Payroll Register and Payroll Journal Entry Mary Losch operates a travel agency called Mary's Luxury Travel. She has five employees, all of whom are paid on a weekly basis. The travel agency uses a payrs individual employee earnings records, and a general fournal. Mary's Luxury Travel uses a weekly federal income tax withholding table. Refer to figure 84 in the text. The payroll data for each employee for the week ended 1 are shown. Employees are paid 1Y2 times the regular rate for working over 40 hours a week. Social Security tax is withheld from the first $128,400 of earnings at the rate of 6.2N, Medicare tax is withheld at the rate of 1.45%, and city earnings tax at the 1 both applied to gross pay. Bocon and Leung have $16 withheld and cole and Hicks have $5 withheld for health insurance. Bacon and Leung have $20 withheld to t the travel agency's credit union. Cole has $38.75 withheld and Hicks has $17.75 withheld under a savings bond purchase plan. Mary's Lubury Travel's payroll is met by drawing checks on its regular bank account, The checks were issued in sequence, beginning with Check No. A23. Required: 1. Prepare a payroll register for Mary's Luxury Travel for the week ended March 22, 20-.. (Ln the Taxable Eamings/Unemployment Compensation column, enter th amounts as in the Social Security column.) Total the amount columns. If reguired, round your answers to the nearest cent. Payroll Register and Payroll Journal Entry Mary Losch operates a travel agency called Mary's Luxury Travel. She has five employees, all of whom are paid on a weekly basis. The travel agency uses a payrs individual employee earnings records, and a general fournal. Mary's Luxury Travel uses a weekly federal income tax withholding table. Refer to figure 84 in the text. The payroll data for each employee for the week ended 1 are shown. Employees are paid 1Y2 times the regular rate for working over 40 hours a week. Social Security tax is withheld from the first $128,400 of earnings at the rate of 6.2N, Medicare tax is withheld at the rate of 1.45%, and city earnings tax at the 1 both applied to gross pay. Bocon and Leung have $16 withheld and cole and Hicks have $5 withheld for health insurance. Bacon and Leung have $20 withheld to t the travel agency's credit union. Cole has $38.75 withheld and Hicks has $17.75 withheld under a savings bond purchase plan. Mary's Lubury Travel's payroll is met by drawing checks on its regular bank account, The checks were issued in sequence, beginning with Check No. A23. Required: 1. Prepare a payroll register for Mary's Luxury Travel for the week ended March 22, 20-.. (Ln the Taxable Eamings/Unemployment Compensation column, enter th amounts as in the Social Security column.) Total the amount columns. If reguired, round your answers to the nearest cent
