PAYROLL ACCOUNTING ACCT. FINANCIAL Practice Question PAYROLL REGISTER Beginni Cummulative Hrs Hrly. Rate Basic Overtime Total Salaries Ending Cumm $ 43,000 S 18,40 P. Combo 173,000 M Dahnya 102.900 V. Maso O. Elvado 15,200 39 S 12.25 K Simms S6,800 44$ 12.25 P. Coker 11.300 45 14.50 S 9,150 $ 93,600 S ,900 37 S 1450 Totals Fed rr withholdings3% fgrosswagesoversi 00, and2%forg oss aybelowS 00,0 State IncomeTax s 10% of Fed IncomeTax FICA-Social security withholding is 6 2%ofgross pay, up to $11 3,700 peryear FICA-Medicare is 1.45% of gross earnings FUTA s 0 8% of earnings and SUTA is 4 % of earnings. both up tos 7 oco gross earn s yearly- Additional Medicare tax09% of earnings over $200,000 loyee/employer pay 50 50 of weekly medical insurance premium of 1 5% of ross pay Notes END DEDUCTIONS Net Pay Fed. IT State IT Soc Security Medicare Additional Medical Ins TOTAL Employee Payroll Journal Accounts Date Dr Cr Net Pay Employer's Payroll Ex Soc. Security Medicare FUTA SUTA Medical ins Total dical Ins TOTAL Soc. Secunity Med Employer's Payroll Tax Accounts Dr Cr Cr Date