need help with this project form October 20 to november 13. Journal, General ledger, payroll register and employees earnings.
No. 2 On this date, Glo-Brite Paint Company must deposit the Pennsylvania state income taxes withheld from the October 9 payroll. The deposit rule states that if the employer expects the aggregate amount withheld each quarter to be $1,000 or more, the employer must pay the withheld tax semimonthly. The tax must be remitted within three banking days after the close of the semimonthly periods ending on the 15 th and the last day of the month. (1) Prepare the journal entry to record the deposit of the taxes, and post to the appropriate ledger accounts. (2) Pennsylvania has eliminated the filing of paper forms (replaced by telefile or online filing). The information needed to telefile is listed on Transaction No. 2 - complete the information workshect needed for the first semimonthly period of October. The company's Pennsylvania employer account number is 00003300, its EIN is 000000660, its filing password is GBPCOM, and its telephone number is (215) 5559559. No. 3 Prepare the payroll for the last pay period of October from Time Clerk's Report Nos. 40 and 41. LO 1 The proper procedure in recording the payroll follows: (1) Complete the payroll register. In as much as only a portion of the payroll register sheet was used in recording the October 9 payroll, the October 23 payroll should be recorded on the same sheet to save space. On the fint blank ruled line after the October 9 payroll, insert "Payday October 23 -For Period Ending October 17, 20-." On the following lines, record the payroll information for the last pay date of October. When recording succeeding payrolls, continue to conserve space by recording two payrolls on each separate payroll register sheet. \& Net Paid $12,458.98 The workers in the plant (Bonno and Ryan) are paid time and a half for any bours worked over eight each The workers in the plant (Bonno and Ryan) are paid time and a half for any hours worked over eight each workday and for work on Saturdays and are paid twice the regular hourly rate for work on Sundays or holidays. Even though they are not on the time clerk's report, remember to pay the president, sales manager, sales representatives, and supervisors. With this pay period, the cumulative earnings of several employees exceed the taxable income base set up by FUTA and SUTA. This factor must be considered in preparing the payroll register and in computing the employer's payroll taxes. Refer to each employee's earnings record to see the amount of cumulative earnings. Time Clerk's Report No, 41 For the Week Ending October 17, 20.. Make the entry transferring from Cash to Payroll Cash the net amount of the total payroll, and post. Post the required information from the payroll register to each employee's earnings record. Record in the journal the salaries, wages, taxes withheld, group insurance premiums collected, union dues withheld, and net amount paid, and post to the proper ledger accounts. The entry required to record the October 23 payroll is the same as that to record the October 9 payroll, except it is necessary to record the liability for the amount withheld from the employees' wages to pay their part of the group insurance premium. The amount withheld should be recorded as a credit to Group Insurance Premiums Collected. The employees' Pennsylvania State Unemployment Tax (SUTA) is calculated (0.0006) on the total wages of each employee. There is no taxable wage limit on the employees' portion of the tax. (5) Record in the journal the employer's payroll taxes and the liabilities created; post to the appropriate ledger accounts. No. 4 Deposit with the state of Pennsylvania the amount of state income taxes withheld from the October 23 payroll and complete information worksheet. No. 5 Thomas J. Sokowski completed a new Form W-4, showing that his filing status changed to single. Change Sokowski's earnings record accordingly. Be sure to deduct 30& premium for each $1,000 of group insurance carried by each employee (last payday of each month). No. 6 Pay the treasurer of the union the amount of union dues withheld during the month of October. No. 7 Prepare the payroll for the first pay period in November from Time Clerk's Report Nos. 42 and 43 and record the paychecks issued to all employees. Record this payroll at the top of the second payroll register sheet. Note: Virginia Russell worked only 38 hours in the week ending October 24, Therefore, compute ber pay No. 7 Prepare the payroll for the first pay period in November from 'Time Clerk's Report Nos. 42 and 43 and record the paychecks issued to all employees. Record this payroll at the top of the second payroll register sheet. Make changes in November 6 pay. Refer to No. 5. Note: Virginia Russell worked only 38 hours in the week ending October 24 . Therefore, compute her pay for that week by multiplying 38 by $15.00 (her hourly rate). Ruth Williams worked only 39 hours in the week ending October 24 . Therefore, compute her pay for that week by mufiplying 39 by $15.29 (her hourly rate). Also, record the employer's payroll taxes. No. 8 Because of her excessive tardiness and absenteeism during the year, the company discharged Ruth Williams today. For the week ending November 7, she was late a total of six hours; and for this week, she missed two full days and was late two hours on another day. In lieu of two weeks' notice, Williams was given two full weeks' pay ($1,223,08). Along with her dismissal pay ($1,223,08), she was paid for the week ending November 7 ( 34 hours, or $519.86 ) and the days worked this current week ( 22 hours, or $336.38 ). The total pay for the two partial weeks is $856.24. (1) Record a separate payroll register (on one line) to show Williams's total earnings, deductions, and net pay. The two weeks' dismissal pay is subject to all payroll taxes. Include dismissal pay with the total earnings but do not show the hours in the Time Record columns. Use the Wage Bracket Method Tables for Manual Payroll Systems With Forms W-4 From 2020 or Later (using standard withholding column) for the biweekly payroll period for the total gross pay ($2,079.32) of Williams. The deduction for group insurance premiums is $14.40. In the Time Record column, make a note of Williams's discharge as of this date. Indicate the payroll check number used to prepare the final check for Williams. When posting to the earnings record, make a notation of Williams's diseharge on this date. (2) Prepare the journal entries to transfer the net cash and to record Williams's final pay and the employer's payroll taxes. Post to the ledger accounts. Manual Payroll Systems With Forms W-4 From 2020 or Later (using standard withholding column) for the biweekly payroll period for the total gross pay ($2,079,32) of Williams The deduction for group insurance premiums is $14.40. In the Time Record column, make a note of Williams's discharge as of this date. Indicate the payroll check number used to prepure the final check for Williams. When posting to the earnings record, make a notation of Williams's discharge on this dute. (2) Prepare the journal entries to transfer the net cash and to record Williams's final pay and the employer's payroll taxes. Post to the ledger accounts. 35) See completed Form W-2 for Ruth Williams Transaction No, 8. Box "d" should be left blank, since GloBrite Paint Company does not use a control number to identify individual Forms W-2. (Please use this Form W-2 as an example to help in completing Forms W-2 at end of the year.) No. 2 On this date, Glo-Brite Paint Company must deposit the Pennsylvania state income taxes withheld from the October 9 payroll. The deposit rule states that if the employer expects the aggregate amount withheld each quarter to be $1,000 or more, the employer must pay the withheld tax semimonthly. The tax must be remitted within three banking days after the close of the semimonthly periods ending on the 15 th and the last day of the month. (1) Prepare the journal entry to record the deposit of the taxes, and post to the appropriate ledger accounts. (2) Pennsylvania has eliminated the filing of paper forms (replaced by telefile or online filing). The information needed to telefile is listed on Transaction No. 2 - complete the information workshect needed for the first semimonthly period of October. The company's Pennsylvania employer account number is 00003300, its EIN is 000000660, its filing password is GBPCOM, and its telephone number is (215) 5559559. No. 3 Prepare the payroll for the last pay period of October from Time Clerk's Report Nos. 40 and 41. LO 1 The proper procedure in recording the payroll follows: (1) Complete the payroll register. In as much as only a portion of the payroll register sheet was used in recording the October 9 payroll, the October 23 payroll should be recorded on the same sheet to save space. On the fint blank ruled line after the October 9 payroll, insert "Payday October 23 -For Period Ending October 17, 20-." On the following lines, record the payroll information for the last pay date of October. When recording succeeding payrolls, continue to conserve space by recording two payrolls on each separate payroll register sheet. \& Net Paid $12,458.98 The workers in the plant (Bonno and Ryan) are paid time and a half for any bours worked over eight each The workers in the plant (Bonno and Ryan) are paid time and a half for any hours worked over eight each workday and for work on Saturdays and are paid twice the regular hourly rate for work on Sundays or holidays. Even though they are not on the time clerk's report, remember to pay the president, sales manager, sales representatives, and supervisors. With this pay period, the cumulative earnings of several employees exceed the taxable income base set up by FUTA and SUTA. This factor must be considered in preparing the payroll register and in computing the employer's payroll taxes. Refer to each employee's earnings record to see the amount of cumulative earnings. Time Clerk's Report No, 41 For the Week Ending October 17, 20.. Make the entry transferring from Cash to Payroll Cash the net amount of the total payroll, and post. Post the required information from the payroll register to each employee's earnings record. Record in the journal the salaries, wages, taxes withheld, group insurance premiums collected, union dues withheld, and net amount paid, and post to the proper ledger accounts. The entry required to record the October 23 payroll is the same as that to record the October 9 payroll, except it is necessary to record the liability for the amount withheld from the employees' wages to pay their part of the group insurance premium. The amount withheld should be recorded as a credit to Group Insurance Premiums Collected. The employees' Pennsylvania State Unemployment Tax (SUTA) is calculated (0.0006) on the total wages of each employee. There is no taxable wage limit on the employees' portion of the tax. (5) Record in the journal the employer's payroll taxes and the liabilities created; post to the appropriate ledger accounts. No. 4 Deposit with the state of Pennsylvania the amount of state income taxes withheld from the October 23 payroll and complete information worksheet. No. 5 Thomas J. Sokowski completed a new Form W-4, showing that his filing status changed to single. Change Sokowski's earnings record accordingly. Be sure to deduct 30& premium for each $1,000 of group insurance carried by each employee (last payday of each month). No. 6 Pay the treasurer of the union the amount of union dues withheld during the month of October. No. 7 Prepare the payroll for the first pay period in November from Time Clerk's Report Nos. 42 and 43 and record the paychecks issued to all employees. Record this payroll at the top of the second payroll register sheet. Note: Virginia Russell worked only 38 hours in the week ending October 24, Therefore, compute ber pay No. 7 Prepare the payroll for the first pay period in November from 'Time Clerk's Report Nos. 42 and 43 and record the paychecks issued to all employees. Record this payroll at the top of the second payroll register sheet. Make changes in November 6 pay. Refer to No. 5. Note: Virginia Russell worked only 38 hours in the week ending October 24 . Therefore, compute her pay for that week by multiplying 38 by $15.00 (her hourly rate). Ruth Williams worked only 39 hours in the week ending October 24 . Therefore, compute her pay for that week by mufiplying 39 by $15.29 (her hourly rate). Also, record the employer's payroll taxes. No. 8 Because of her excessive tardiness and absenteeism during the year, the company discharged Ruth Williams today. For the week ending November 7, she was late a total of six hours; and for this week, she missed two full days and was late two hours on another day. In lieu of two weeks' notice, Williams was given two full weeks' pay ($1,223,08). Along with her dismissal pay ($1,223,08), she was paid for the week ending November 7 ( 34 hours, or $519.86 ) and the days worked this current week ( 22 hours, or $336.38 ). The total pay for the two partial weeks is $856.24. (1) Record a separate payroll register (on one line) to show Williams's total earnings, deductions, and net pay. The two weeks' dismissal pay is subject to all payroll taxes. Include dismissal pay with the total earnings but do not show the hours in the Time Record columns. Use the Wage Bracket Method Tables for Manual Payroll Systems With Forms W-4 From 2020 or Later (using standard withholding column) for the biweekly payroll period for the total gross pay ($2,079.32) of Williams. The deduction for group insurance premiums is $14.40. In the Time Record column, make a note of Williams's discharge as of this date. Indicate the payroll check number used to prepare the final check for Williams. When posting to the earnings record, make a notation of Williams's diseharge on this date. (2) Prepare the journal entries to transfer the net cash and to record Williams's final pay and the employer's payroll taxes. Post to the ledger accounts. Manual Payroll Systems With Forms W-4 From 2020 or Later (using standard withholding column) for the biweekly payroll period for the total gross pay ($2,079,32) of Williams The deduction for group insurance premiums is $14.40. In the Time Record column, make a note of Williams's discharge as of this date. Indicate the payroll check number used to prepure the final check for Williams. When posting to the earnings record, make a notation of Williams's discharge on this dute. (2) Prepare the journal entries to transfer the net cash and to record Williams's final pay and the employer's payroll taxes. Post to the ledger accounts. 35) See completed Form W-2 for Ruth Williams Transaction No, 8. Box "d" should be left blank, since GloBrite Paint Company does not use a control number to identify individual Forms W-2. (Please use this Form W-2 as an example to help in completing Forms W-2 at end of the year.)
