Alpine Company pays its employees time-and-a-half for hours worked in excess of 40 per week. The information available from time cards and employees' individual earnings records for the pay period ended October 14 is shown in the following chart: Name Earnings at End of Previous Week Daily Time Pay Rate Income Tax Allowances or Amount M T W T F S Bardin, J. 43,530.00 8 8 8 8 8 2 21.30 2 Caris, A. 44,487.00 8 8 8 8 8 8 21.80 1 Drew, W. 44,698.00 8 10 10 8 8 0 21.40 1 Garen, S. 117,600.00 8 8 8 8 8 0 49.00 $227.83 North, O. 43,909.00 8 8 8 8 8 5 21.40 3 Ovid, N. 40,180.00 8 8 8 8 8 0 21.50 1 Ross, J. 6,406.00 8 8 8 8 8 4 20.40 1 Springer, O. 44,146.00 8 8 8 8 8 3 21.25 2 Taxable earnings for Social Security are based on the first $118,500. Taxable earnings for Medicare are based on all earnings. Taxable earnings for federal and state unemployment are based on the first $7,000. Required: 1. Complete the payroll register using the wage-bracket income tax withholding table in Figure 3. The Social Security tax rate is 6.2 percent, and the Medicare tax rate is 1.45 percent. Assume that all employees are married. In the payroll register, begin payroll checks with No. 3945. If an amount is zero, enter "0". If required, round your intermediate calculations and the final answers to the nearest cent and use the rounded answers in subsequent computations. ALPINE COMPANY PAYROLL REGISTER FOR WEEK ENDED October 14, 20-- NAME TOTAL HOURS BEGINNING CUMULATIVE EARNINGS EARNINGS ENDING CUMULATIVE EARNINGS TAXABLE EARNINGS DEDUCTIONS PAYMENTS REGULAR OVERTIME TOTAL UNEMPLOY- MENT SOCIAL SECURITY MEDICARE FEDERAL INCOME TAX SOCIAL SECURITY TAX MEDICARE TAX TOTAL NET AMOUNT CK. NO. Bardin, J. 42 $ 43,530.00 $ 852.00 $ 63.90 $ 915.90 $ 44,445.90 $ 0 $ 915.9 $ 62.00 $ 62.00 $ $ $ $ Caris, A. 48 $ 44,487.00 $ 872.00 $ 261.60 $ 1,133.60 $ 45,620.60 $ 0 $ 1,128.40 $ $ $ $ $ $ Drew, W. 44 $ 44,698.00 $ 856.00 $ 128.40 $ 984.4 $ 45,682.40 $ 0 $ 984.40 $ $ $ $ $ $ Garen, S. 40 $ 117,600.00 $ 1,960.00 $ 0.00 $ 1,960.00 $ 119,560.00 $ 0 $ 858.00 $ $ $ $ $ $ North, O. 45 $ 43,909.00 $ 856.00 $ 160.50 $ 1,016.50 $ 44,925.50 $ 0 $ 1,011.758 $ $ $ $ $ $ Ovid, N. 40 $ 40,180.00 $ 860.00 $ 0.00 $ 860.00 $ 41,040.00 $ 0 $ 860.00 $ $ $ $ $ $ Ross, J. 44 $ 6,406.00 $ 816.00 $ 122.40 $ 938.40 $ 7,344.40 $ 545.00 $ 947.60 $ $ $ $ $ $ Springer, O. 43 $ 44,146.00 $ 850.00 $ 95.63 $ 945.63 $ 45,091.63 $ 0 $ 941.18 $ $ $ $ $ $ $ 384,956.00 $ 7,922.00 $ 832.43 $ 8,754.43 $ 393,710.43 $ 545 $ 7,647.23 $ $ $ $ $ $ Feedback Fill in amounts for each column making sure that you watch your cumulative totals so you will know when you reach your maximum on Social Security Taxable Wages and also Unemployment Taxable Wages. If the cumulative wages go over the maximums, only use the part of the current earnings that bring the total up to the maximum. 2. Prepare a general journal entry to record the payroll. The firm's general ledger contains a Wages Expense account and a Wages Payable account. Then assuming that the firm has transferred funds from its regular bank account to its special payroll bank account and that this entry has been made, prepare a general journal entry to record the payment of wages. If required, round your intermediate calculations and the final answers to the nearest cent and use the rounded answers in subsequent computations. If an amount box does not require an entry, leave it blank. GENERAL JOURNAL PAGE DATE DESCRIPTION POST. REF. DEBIT CREDIT 20-- Oct. 14 Wages Expense 0 0 Employees' Federal Income Tax Payable 0 0 FICA Social Security Tax Payable 0 0 FICA Medicare Tax Payable 0 0 Wages Payable 0 0 Payroll register for week ended October 14. Oct. 14 Wages Payable 0 CashPayroll Bank Account 0 Paid wages for week ended October 14. Feedback Keep in mind your normal balances for Expense accounts and Payable accounts. You will be increasing both but the normal balance is not on the same side for both. When wages are paid, money is taken from the Payroll cash account to clear the Wages Payable account. The normal balance on a payable account is a credit so to clear it out, you must debit the account to bring it to zero.