City Place Movie Theaters has four employees and pays them on an hourly basis. During the week beginning June 24 and ending June 30, these employees worked the hours shown below. Information about hourly rates, marital status, withholding allowances, and cumulative earnings prior to the current pay period also appears below. Consider any hours worked beyond 40 in the week as overtime hours and overtime pay at one and one-half times their regular hourly rate. Employee Andy Anderson Roma Denson Frank Cortez Winter Wise Regular Hours Worked 47 Hourly Marital withholding Cumulative Rate Status Allowances Earnings $10.50 1 $17,440 48 9.58 H 4 16,775 40 9.38 H 1 51 8.90 S 2 15,880 14,460 Required: 1. Enter the basic payroll information for each employee in a payroll register Record the employee's name, number of withholding allowances, marital status, total and overtime hours, and regular hourly rate. Note: Consider any hours worked beyond 40 in the week as overtime hours and overtime pay at one and one half times their regular hourly rate 2. Compute the regular, overtime, and gross earnings for each employee. Enter the figures in the payroll register 3. Compute the amount of social security tax to be withheld from each employee's earnings. Assume a 6.2 percent social security rate on the first $122,700 earned by the employee during the year. Enter the figures in the payroll register. 4. Compute the amount of Medicare tax to be withheld from each employee's earnings. Assume a 1.45 percent Medicare tax rate on all salaries and wages eamed by the employee during the year. Enter the figures in the payroll register. 5. Determine the amount of federal income tax to be withheld from each employee's total earnings. Use the tax tables in Figure 10.2a & Figure 10.2b. Enter the figures in the payroll register. 6. Compute the net pay of each employee and enter the figures in the payroll register. 7. Prepare a general journal entry to record the payroll for the week ended June 30 8. Record the general journal entry to summarize payment of the payroll on July 3. Analyze: What are Andy Anderson's cumulative earnings on June 30, 20x1? Compute the regular, overtime, gross earnings, social security tax and Medicare tax to be withheld from each employee's earnings. Assume a 6.2 percent social security rate on the first $122,700 earned by the employee during the year. Assume a 1.45 percent Medicare tax rate on all salaries and wages earned by the employee during the year. Determine the amount of federal income tax to be withheld from each employee's total earnings. (Use the table shown in Figure 10.2A & Figure 10.28 whichever is applicable). Finally compute the net pay of each employee. (Round your intermediate calculations and final answers to 2 decimal places.) Payroll register Week beginning: June 24 Earnings And ending: June 30 Paid: July 3 Taxable wages Deductions Distribution Employee Regular time earnings Overtime Gross amount earnings Cumulative earnings Social security Medicare Social security Medicare Income tax Net amount Wages expense Andy Anderson Roma Banton Frank Cortez Winter Wise Prepare a general journal entry to record the payroll expenses and also summarize payment of the payroll for the week ended June 30, and July 3. (Round your intermediate calculations and final answers to 2 decimal places.) View transaction list Journal entry worksheet 2 Record the company's payroll to be paid at a later date. Note: Enter debits before credits. Date June 30 General Journal Debit Credit General Journal dropdown choices Cash Employee income tax payable Interest expense Rent expense Sales tax payable Social security tax payable Utilities expense Interest payable Madicara tax payable Wages expense Notes payable Wages payable Petty cashi > Prepaid expenses What are Andy Anderson's cumulative earnings on June 30? (Round your intermediate calculations and final answer to 2 decimal places.) Cumulativa aamings Show less