Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Can someone help me? Thank you Payroll Accounting 2015 CONTINUING PAYROLL PROBLEMA In this last phase of your work on the Continuing Payroll 6. On

Can someone help me? Thank you
image text in transcribed
image text in transcribed
image text in transcribed
Payroll Accounting 2015 CONTINUING PAYROLL PROBLEMA In this last phase of your work on the Continuing Payroll 6. On a separate sheet of paper: Problem A, you will record the amounts withheld for group and health insurance and calculate the net pay for a. Prepare the journal entries as of January 12 to re- each employee. Refer to the partially completed payroll cord the payroll and the payroll taxes for the registers upon which you were working at the end of week ending January 8. Credit Salaries Payable Chapter S, and proceed as follows: for the total net pay. Use the following tax rates and bases: 4. In the appropriate column of the payroll register, re- employer's FICA-OASDI, 6.2% on the first cord the amount to be withheld for group life insur- $117,000; employer's FICA-HI, 1.45% on total ance. Each employee contributes 85 each week earnings; FUTA, 0.6% on the first $7,000; and toward the cost of group insurance coverage, with SUTA, 3.6785% on the first $8,750. the exception of Smith and Schork (Kipley Com- b. Prepare the journal entry to record the payment pany), who are not yet eligible for coverage under the of the payroll on January 14 when the paychecks 2. Record the amount to be withheld for health insur- are distributed to all workers. ance. Each employee contributes $1.65 each week to Your work on the Continuing Payroll Problem A is ward the cost of health insurance. now completed, and you may be asked to submit your 3. Record the net pay for each employee. The net pay payroll register to your instructor. The experience you for each employee is obtained by subtracting the total have gained in working on cach of the succeeding phases amount of all deductions from the total earnings. of the Continuing Payroll Problem will aid you in under- Each worker is to be paid by check. Assign check taking the payroll work involved in Chapter 7. In the numbers commencing with No. 313. Comprehensive Payroll Project, you will be responsible 5. Foot all money columns of the payroll register, and for all aspects of payroll operations for a company for an prove the accuracy of the column totals. entire calendar quarter. OVERTIME EARNINGS REGULAR EARNINGS TOTAL EARNINGS AMOUNT RATE PER HOUR HOURS WORKED RATE PER HOUR AMOUNT NAME TIME CARD NO 1 100 1 8 25 8 201.8970 6780 h 20.96 161.1d8d 090 19.30 244 539.4 $ Im Carson 15 40 17.50 100 212 illiam hlilson_310 40 17.25 1401 13 Hany Whey M2 57.5 18.10 6722 -21 Loure Fill M40 12.90 TL 22 Smith S 2 40 19.5 790 Gretchen Foru M 340 12 99 55 12 Gada pola M640 15.586.2309 Thames Schorth ISO 90 19.33 730 5 Barbara Harley M 5.40 14.40 579.22 421 12 Ele 90 de mil M740 25 .bd 1000 12300 1103 1000 L 99 Carson tiply 1 2 0 7 10 10 10 11 2 3 4 DEDUCTIONS 2 3.02 NET PAID QASDI TAX TAX FIT GIT GUTA 5 DIMPLE D GROUP INS HEALTH INS CHECK NO AMOUNT - - 11 43.40 10.1559 21.49 12 55.62 13.01 133 121..44 13 412.8L 9.3437 20.94 21 54.8 12.12 44 - 26.98 22 48.99 1.46 81 124.25 33.43 7.82 14 16.56 32 36.6 9.03 1 19.13 11.190 23.14 5) 41.30 9.66 12 20.45 14.09 30.10 41.109. Hd 692 2311 21 1280 26.41847.0 20... LA 26.31829..19 2. no 1.5 499.4 18. 557310 23.20 13.6 13 3 Alu 3.0 920l 220.0 313 314 315 3 32 318 . 33.49.23 320 321 522 99 62

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Waste Management And Environmental Auditing Of An Urban Road Project

Authors: Babagana Mohammed, Salim Mohammed Sani

1st Edition

3330344563, 978-3330344563

More Books

Students also viewed these Accounting questions