Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Payroll record 1. Prepare the New Pharmacy payroll record with the following columns: employee name, number of hours worked, hourly wage, weekly gross wage, social

Payroll record

image text in transcribed
1. Prepare the New Pharmacy payroll record with the following columns: employee name, number of hours worked, hourly wage, weekly gross wage, social security discount, Medicare discount, and retirement savings. 2. Calculate the gross salary of each employee. 3. Calculate the amount withholding from Social Security and Medicare. 4. Calculate the net pay for each employee. 5. Journalize the entry to record the payroll. The New Pharmacy pays for overtime hours and a half. It does not pay overtime to employees who are paid by salary. The company has 10 employees and the information on the hours worked is as follows: Employee Name Hours Worked Salary Per Hour | Salary Per Week Retirement Union Payment Payment Juan del Pueblo 43 $8.50 $21.93 $15 Ramonita 41 Ramirez 11.50 |Manager, pay no 37.12 fee. Brenda Montalvo $1,100 Manager, pay no 55 88.00 fee Camilo Monge 40 7.25 23.02 15 Jorge Emmanueli 46 25.00 92.00 15 Mariel Estrada 50 10.00 48.00 Emanuel Reyes 40 8.00 25.60 15 Emesto Ramirez 40 8.25 26.40 15 Daniela Morales 38 10.75 32.68 15 Angel Carrasquillo 43 860 68.80 |Manager, Pay no fee

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

Microeconomics An Intuitive Approach with Calculus

Authors: Thomas Nechyba

1st edition

978-0538453257

Students also viewed these Accounting questions