Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

Name: art B. Remember to use formulas when there is a calculation/cell reference Instructions: 1) use the information in Part A to complete the

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

Name: art B. Remember to use formulas when there is a calculation/cell reference Instructions: 1) use the information in Part A to complete the Payroll Register Tab 2) Using the information in the Payroll Register, complete January & December journal entries for both employee wages withholdings and employer only taxes (use cell references) NOTE: In the pink cells, we have provided you with the formules for the first period Because there is no data in the cells as you begin the assignment rasut of the calculation is 0 As you completn you will see the results in the pink calls change You will need to copy the formulas in these January cells from the first period Part A bsequent period Accounting 213: Lab #8 for Chapter 9-Payroll Accounting N O Tax Rates and Maximum Taxable Amounts 10 annual salary of employee rate subject to tax Boom Security FICA (CASDI) 6.20% $142.800 14 Social Security-Medicare 1.40% 16 Unemployment-FUTA 0.0% $7,000 17 Unemployment-SUTA 54% $7.000 19 Information for Employee Irma Wellgaid 20 Monthly grows pay $13.600 FE Monty tax table Federal $3.425 22 Stage 5000 Monthly heath insurance 3760 23 Monthly Me inau $100 Monty retirement savings $2.500 20 27 Part B Payroll Register Cumulative Name Irma Wellpaid 20 30 gross pay Calendar Gross pay 31 year-to-date subject to 32 Month Social Sec Monthly Gross pay Soc Sec. Medicare income Wahholdings Federal State Health Income Life Insurance Insurance Retirement Premium Premium Total with holdings Net Payroll subject Monthly Monthly ployment FUTA SUTA 5 January February 5 March April May STJY August e to search O a C 01 0 82F Mostly cloudy

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Advanced Financial Accounting

Authors: Theodore E. Christensen, David M. Cottrell, Richard E. Baker

10th edition

978-0078025624

Students also viewed these Accounting questions