D Instructions You are starting your own business providing bookkeeping services to small business owners. The requirements below are related to the management of your sole proprietorship company. Requirements: 1. Payroll Liabilities (est.time = 30 min) Today is January 8, 2020, The employees listed below are paid weekly and the first pay period January 1-7 juistended. Calculate and record the payroll, then record the payment of the payroll, INSERTa new worksheet named 1 Payroll and create a payroll register to calculate each employee's gross wages, social social security and medicare tax withholdings, health insurance deduction and net pay for that payroll. If the employee is eligible for heath insurance their health insurance cost is 5 percent of the employee's gross woges. There are no other withholdings or deductions, Below your completed payroll register.enter all of the JOURNAL ENTRIES necessary to record the occurance of the payroll and the payment on January 9, 2020 Employee No 1 2 3 Employee Name Leon Draisal David Pastranak Connor McDavid Artemi Panarin Nathan MacKinnon $ S S $ $ Hourly Rate 15,50 47,00 28,50 17,85 22,25 Hours Worked 30 40 30 35 Federal income Tax Withholding Amount $ 75.00 $ 110,00 $ 87,00 $ 81,00 $ 49,00 Eligible for Heath Insurance? Y Y N 4 N Y 5 40 B14 x vfx Your first client has asked you to prepare their December 31, 2019 year-end financial statements A 8 D E F G 1 instructions: You are starting your own business providing bookkeeping services to small business owners. The requirements below are related to the management of your sale 2 proprietorship company 3 4 Requirements: 1. Payroll Liabilities Today is January 8, 2020. The employees listed below are paid weekly and the first pay period January 1-7 just ended. Calculate and record the (est.time 30 min) payroll, then record the payment of the payroll INSERTa new worksheet named 1. Payroll and create a payroll register to calculate cach employee's gross wages, social social security and medicare tax withholdings, health insurance deduction and net pay for that payroll. If the employee is eligible for heath insurance, their health insurance cost is 5 percent of the employee's gross wages. There are no other withholdings or deductions, Below your completed payroll register, enter all of the JOURNAL ENTRIES necessary to record the occurance of the payroll and the payment on January 9, 2020, 5 Hourly Rate Employee No 1 6 7 8 9 15,50 Eligible for Heath Insurance? Y Y Employee Name Leon Draisait David Pastranak Connor McDavid Artemi Panarin Nathan MacKinnon 2 3 4 5 $ $ $ $ $ Federal Income Tax Withholding Amount $ 75,00 $ 110,00 $ 87 DO $ 81.00 $ 49,00 Hours Worked 30 40 30 35 40 47.00 28,50 1785 22.25 N N Y 2. Notes Payable (est.time - 15 min) On January 1, 2020, you took out a 3-year 7.5% loan and bought a digital copier costing S2,751.84 including sales tax, delivery and installation Today is January 31, 2020 and you need to make your first loan payment. INSERT a new worksheet named 2. loan and use an Office template to create the loan amortization schedule. In the blank columns to the right of the schedule, enter the complete joumal entries to record the purchase of the copler AND the first payment made today
