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Low Country Goods has four employees and pays them on an hourly basis. During the week beginning June 2 4 and ending June 3 0
Low Country Goods has four employees and pays them on an hourly basis. During the week beginning June and ending June Answer is complete but not entirely correct.
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General
Journal
Analyze
Prepare a general journal entry to record the payroll expenses and also summarize payment of the payroll for the week ended June and July
Note: Round your intermediate calculations and final answers to decimal places.
tableNoDate,General Journal,Debit,CreditJune times Wages expense,theta Social security tax payable,theta times Medicare tax payable,Employee income tax payable,xCash,oxxJuly XSales tax payable,oxCash,theta x
these employees worked the hours shown below. Information about hourly rates, marital status, federal income tax withheld, and
cumulative earnings prior to the current pay period also appears below. Consider any hours worked beyond in the week as
overtime hours and overtime pay at one and onehalf times their regular hourly rate.
Required:
Enter the basic payroll information for each employee in a payroll register. Record the employee's name, marital status, total and
overtime hours, and regular hourly rate. Note: Consider any hours worked beyond in the week as overtime hours and
overtime pay at one and onehalf times their regular hourly rate.
Compute the regular, overtime, and gross earnings for each employee. Enter the figures in the payroll register.
Compute the amount of social security tax to be withheld from each employee's earnings. Assume a percent social security
rate on the first $ earned by the employee during the year. Enter the figures in the payroll register.
Compute the amount of Medicare tax to be withheld from each employee's earnings. Assume a percent Medicare tax rate
on all salaries and wages earned by the employee during the year. Enter the figures in the payroll register.
Enter the amount of federal income tax to be withheld from each employee's total earnings.
Compute the net pay of each employee and enter the figures in the payroll register.
Prepare a general journal entry to record the payroll for the week ended June
Record the general journal entry to summarize payment of the payroll on July
Analyze:
What are Amora Brandon's cumulative earnings on June
Answer is complete but not entirely correct.
Complete this question by entering your answers in the tabs below.
employee's total earnings. Use the table shown in Figure A & Figure B whichever is applicable Finally compute the net pay of each employee.
Note: Round your intermediate calculations and final answers to decimal places.
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