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Instructions: Complete the payroll register for employees of Corby Company for the week ended March 3 as found on the Payroll Register tab. Taxable earnings
Instructions: Complete the payroll register for employees of Corby Company for the week ended March 3 as found on the Payroll Register tab. Taxable earnings should be computed on the basis of a 40-hour week with overtime earnings being paid at time and one-half for all hours over 40 each workweek (no overtime for salaried employees).
All employees wages are subject to the OASDI tax of 6.2% and the HI tax of 1.45%. The supplemental HI rate of 0.9% is not applicable. |
All workers are employed in a state that imposes a 2% income tax on the gross wages earned by each worker. |
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Use the partial wage-bracket tables provided in the Tax Tables tab to determine the amount of federal income tax to be withheld. For the salaried employees (#32 and #10), use the percentage method table. |
Next record journal payroll paid on March 10, 2017 on the Journal Entry tab. |
On the Payroll Accrual tab accrue February's payroll. |
On the Vacation Accrual tab, accrual the employer's liability for vacation and journalize the totals. |
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