Answered step by step
Verified Expert Solution
Question
1 Approved Answer
eBook Payroll Register The following data for Throwback Industries, Inc. relate to the payroll for the week ended December 9, 2048: Hours Hourly Weekly Retirements
eBook Payroll Register The following data for Throwback Industries, Inc. relate to the payroll for the week ended December 9, 2048: Hours Hourly Weekly Retirements Employee Worked Rate Salary Federal Income Tax $293.02 $ Savings Aaron 46 $26 $35 Cobb 41 44 392.59 90 Clemente 43 34 287.47 75 37 28 217.56 55 DiMaggio Griffey, Jr. 48 42 458.64 70 Mantle $2,030 487.20 60 Robinson 35 30 157.50 65 Williams 2,270 499.40 45 Vaughn 44 40 368.00 60 Employees Mantle and Williams are office staff, and all of the other employees are sales personnel. All sales personnel are paid 1/2 times the regular rate for all hours in excess of 40 hours per week. The social security tax rate is 5%, and Medicare tax is 1.5% of each employee's annual earnings. The next payroll check to be used is No. 901. 6 Required: 1. Prepare a payroll register for Throwback Industries, Inc. for the week ended December 9, 20Y8. Assume the normal working hours in a week are 40 hours. Enter amounts as positive numbers. Round your intermediate calculations and final answers to the nearest whole cent (two decimal places). nearest whole cent (twe decimal places Payroll for Week Ending December Deductions Earnings Paid Accounts Debited Federal Income Medicare Retirement Office Salaries Overtime Savings Total Net Pa No Expense 901 $293.02 392.59 902 2874 2172 37 45 Il (Dulclllll IIIIIIIIII 458.64 70 905 487.20 157.50 499.40 368.00 IIII! 111 100 44 60 2. Journalize the entry to record the payroll for the week. If required, round your answers to two decimal places. If an amount box does not require an entry, leave it blank
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started