Instructions Employee Hours Worked Hourly Rate Weekly Salary Federal Income Tax Retirement Savings $105 Aaron 43 $70 $689.44 Cobb 43 58 539.92 115 Clemente 45 64 668.44 125 39 52 377.80 0 DiMaggio Griffey, Jr. 48 64 749.08 135 Mantle $1,700 317.45 125 Robinson 38 53 387.32 135 Williams 2,100 426.24 130 Vaughn 48 64 770.08 80 Employees Mantle and Williams are office staff, and all of the other employees are sales personnel. Al sales personnel are paid 1 times the regulat rate for all hours in excess of 40 hours per week. The social security tax rate 6s 6,0%, and Medicare tax is 15% of each employee's annual earnings. The next payroll check to be used is No. 001. Required: 1. Prepare a payroll register for Throwback Industries Inc. for the week ended December 9, 2078. Assume the normal working hours in a week are 40 hours Ender amounts as posive numbers. Round your intermediate calculations and final answers to two decimal places. 2. Journalize the entry to record the payrol for the week. Refer to the chart of accounts for the exact wording of the accountitles. CNOWjournals do not use lines for journal explanations. Every line on a journal page is used for debitor credit entries. CNOW Jumals will automatically indent a credit only when a credit amount is entered. If required, round your answers to two decimal places. 1. Prepare a payroll register for Throwback Industries Inc. for the week ended December 9, 2078. Assume the normal working hours in a week are 40 hours. Enter amounts as positive Earnings Earnings Earnings Payroll for Week Ending December 9, 20Y8 Deductions Deductions Deductions Withheld Withheld Wiheld Social Security Federal Income Medicare Tax Tax Tax Deductions Withheld Retirement Savings $105.00 Employee Total Hours Regular Overtime Total 1 Aaron 43.00 5689.44 Cobb 45.00 115.00 53992 668.44 3 Clemente 45.00 125.00 6 39.00 377.80 DiMaggio Griffey. It 2 48.00 749.08 135.00 Mantle 31745 125.00 3 Robinson 3800 38252 155.00 10 Williams 426.24 130.00 80.00 21 48.00 770.08 Vaughn Totals 11 $492577 $950.00 2. Journalize the entry to record the payroll for the week. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use ines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW Journals will automatically indent a credit entry when a credit amount is entered. If required, ro your answers to two decimal places. PAGE 1 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF DEBIT CREDIT ASSETS LIABILITIES EQUITY ! 3
