Explain step $1$ in more detail.Required information

December $31$

The final pay perlod of the year will not be pald to employees untl January $4,2024.$ The company will accrue the wages for the final

pay period only. Because the pay perlod is complete, there will not be a reversing entry for the accrual. As a result, paychecks will not

be issued for this pay perlod since they will be paid in the following year and reflected on the Employee Earning Record forms for each

employee when pald. The remalnder of the employer llability will be pald with the final filing for the year.

The company pays holiday pay for December $25,2023.$ Due to demand, the employees worked extra hours on Wednesday,

December $27.$ Reminder, holidays and vacations are not Included as hours workedfor calculatlon of overtime.

Complete the Employee Gross Pay tab.

Complete the Payroll Reglster for December $31.$

Complete the General Journal entrles for the December $31$ payroll.

Update the General Ledger w$/$th the ending ledger balances from the December $15$ pay perlod ledger accounts first, and then

post the journal entries from the current perlod to the General Ledger.

Complete the question by filling in all answers in the tabs below.

Compute the gross earnings for regular, overtime, and holiday pay for each employee for the December $31$ pay period. Remember that while an hourly rate is shown

for all employees, the period pay for exempt employees should be calculated by taking their yearly salary and dividing it by the number of semimonthly pay periods

in a year, which should then be split between the number of hours considered regular time and holiday time. The pay rates for each employee have been given from

the prior period.

Note: Round answers for hourly rate or period wages to $5$ decimal places and all other answers to $2$ decimals. I need help with Chinson Wayland and Peppinico