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Complete the payroll register for the three employees. Cougar Mountain Sports has recorded some transactions that occurred during August. In addition, adjusting entries for the
Complete the payroll register for the three employees.
Cougar Mountain Sports has recorded some transactions that occurred during August. In addition, adjusting entries for the month were recorded as well. (Record all normal transactions and adjusting transactions at the same time and complete one adjusted trial balance.) Requirements: 1. Cougar Mountain Sports employs three employees, and pays time-and-a-half for overtime. Monthly paychecks are distributed on the Friday following the last day of the month. The company withholds federal income tax (18%), state income tax (7%), FICA- OASDI (6.2%)for wages up to $118,500, and FICA-Medicare (1.45%). The company also pays payroll taxes for FICA-OASDI (6.2%) for wages up to $118,500, FICA-Medicare (1.45%), and state and federal unemployment (5.4% and 0.6% respectively) for wages up to $7,000. August 2024 has 22 working days. The payroll data for the three employees for the month ended August 31 follows: Name John Doe Mark Hall Alex Smith Straight Hours Time Rate Worked $35 182 17 188 20 186 Beginning Cumulative Earnings $46,000 $3,200 $28,300 a. Complete the Payroll Register for the three employees for the week ended August 31, 2024. Format to two decimal places. -quirement 1 mplete the Payroll Register for the three employees for the week ended August 31, 2024 Payroll Register Earnings Employee Name OASDI Medicare Beginning Cumulative Earnings Pay Rate Hours Worked Regular Pay Withholdings Federal State Income Tax Income Tax 1.00% 7.00% Current Period Earnings Overtime Pay Ending Cumulative Earnings 011 John Dee Mark HMI Alex Smith Total Step by Step Solution
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