did she earn this year? Problem 10.24 Objectives 10-2 10-3, 10-4, 10-5 reg gross G computing gross earnings, determining deductions, preparing payroll register, journalizing payroll transactions. Lly Place Movie Theaters has four employees and pays them on an hourly basis. During the week ginning June 24 and endine June 30, 2016, these employees worked the hors shown below formation about hourly rates, marital status, withholding allowances, and cumulative earnings prior to the current pay period also appears below Regular Hours Worked Hourly Rate Marital Status Withholding Allowances $12.70 Employee Nelda Anderson Eorl Benson Frank Cartez Winnie Wu Cumulative Earnings $17.640 16.975 16,080 14660 N 48 40 11.50 11.20 10.70 5 INSTRUCTIONS 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. Consider any hours worked beyond 40 in the week as overtime hours 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 $113,700 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 1.45 percent Medicare tax rate on all salaries and wages earned 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 10.2 on pages 309-310. Enter the figures in the payroll register. 6. Compute the net pay of each employee and enter the figures in the payroll register. 7. Total and prove the payroll register. 8. Prepare a general journal entry to record the payroll for the week ended June 30, 2016. Use 15 as the page number for the general journal. 9. Record the general journal entry to summarize payment of the payroll on July 3, 2016. Analyze: What are Nelda Anderson's cumulative earnings on June 30, 2016? we amuninne determinin denetians nranarina