Payroll Register Chart of Accounts Payroll Register Journal Instructions The following data for Throwback Industries in relate to the pool for the week ended December 0.2048 Employee Hours Worked Hourly Rate $68.00 Weekly Salary Federal Income Tax $750 20 Retirement Saving $100 40 Aaron Cobb 41 62.00 37.68 110 70.00 Clemente 120 832.64 366.04 0 56.00 62.00 45 641.84 130 D Maggio Griffey, Mantle Robinson $1.000 342.45 120 36 54.00 382 56 130 Williams 2,000 398.24 125 Vaughn 62.00 584.72 50 Employees Mantle and Williams are office staff, and all of the other employees are sales personnel. All sales personnel are paid 1 times the regular rate for all hours in excess of 40 hours per week. The social security tax rate is 6.0%, and Medicare tax is 1.5% of each employeo's annual earings. The next payrol check to be used is No. 901 Required: 1. Prepare a payroll register for Throwback Industries Inc. for the week ended December 9, 2018. Assume the normal working hours in a week are 40 hours. Enter amounts as positive numbers. Round your intermediate calculations and final answers to two decimal places. 2. Joumaize the entry to record the payroll for the week. Refer to the chart of accounts for the exact wording of the accounts. CNOWjumals do not use ines for journal explanations. Every ine on a journal page is used for debitor credit antries CNOW joumals will automatically indent Chart of Accounts CHART OF ACCOUNTS Throwback Industries Inc. General Ledger ASSETS REVENUE 110 Cash 410 Sales 610 Interest Revenue 111 Accounts Receivable 112 Interest Receivable 113 Notes Receivable EXPENSES 115 Merchandise Inventory 510 Cost of Merchandise Sold 116 Supplies 520 Office Salaries Expense 118 Prepaid Insurance 120 Land 123 Building 124 Accumulated Depreciation-Building 125 Office Equipment 521 Sales Salaries Expense 524 Depreciation Expense-Building 525 Delivery Expense 526 Repairs Expense 529 Selling Expenses 531 Rent Expense 532 Depreciation Expense-Office Equipment 533 Insurance Expense 534 Supplies Expense 126 Accumulated Depreciation Office Equipment LIABILITIES 210 Accounts Payable Aile Chart of Accounts 120 Land 123 Building 124 Accumulated Depreciation Building 125 Office Equipment 126 Accumulated Depreciation Office Equipment 524 Depreciation Expense-Building 525 Delivery Expense 526 Repairs Expense 529 Selling Expenses 531 Rent Expense 532 Depreciation Expense-Office Equipment LIABILITIES 533 Insurance Expense 210 Accounts Payable 534 Supplies Expense 213 Interest Payable 535 Payroll Tax Expense 538 Cash Short and Over 214 Notes Payable 215 Salaries Payable 539 Product Warranty Expense 540 Miscellaneous Expense 216 Social Security Tax Payable 217 Medicare Tax Payable 710 Interest Expense 218 Employees Federal Income Tax Payable 221 Retirement Savings Deductions Payable 224 Federal Unemployment Tax Payable 225 State Unemployment Tax Payable EQUITY 310 Owner, Capital 311 Owner, Drawing Payroll Register Instructions Chart of Accounts Payroll Register Journal Payroll Register Earrings Earnings Earings Payroll for Week Ending December 9, 20Y8 Deductions Deduction Deductions Wiheld Wereld Wetheld Social Security Federal income Medicare Tax Deductions Withheld Pald Paid Employee Total Hours Regular Overtime Deductions Withheld Retirement Savings 5100.00 Total Net Pay Oce 3 Aaron 46.00 $750.20 901.00 4 Cobb 41.00 59768 110.00 902.00 5 41.00 83264 120.00 903.00 6 35.00 Clemente Di Magia Griffey Mantle 90400 45.00 36604 64184 342.45 150.00 905.00 906.00 120.00 Robinson 56.00 38256 150 DO 7.00 15 Williams 59824 125.00 90800 11 Vaughn 42.00 58472 50.00 909.00 Tetails 54856.37 $385.00 hings Deductions Withheld Paid Pald Accounts Debited Accounts Debited Payroll for Week Ending December 9, 20YB Deductions Deductions Deductions Withheld Withheld Withheld Social Security Federal Income Medicare Tax Tax Tax $750.20 Deductions Withheld Retirement Savings $100.00 Total Net Pay Ck. No Sales Salaries Expense Office Salaries Expense 901.00 537.68 110.00 902.00 832.64 120.00 903.00 366.04 904.00 641.84 130.00 905.00 906.00 34245 120.00 382.56 130.00 907.00 398 24 125.00 900.00 584.72 50.00 909.00 $4,836,37 $885.00 Instructions Chart of Accounts Payroll Register Journal Journal 2. Journaltre the entry to record the payroll for the week. Refer to the chart of accounts for the exact wording of the account titles. GNOW Journals do not use Ines for journal explanations. Every line on a joumal page is used for debit or credit entries. CNOW Journals will automatically indent a credit entry when a credit amount is entered. If required, round your answers to two decimal places. PAGE 1 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF DEBIT CREDIT ASSETS LIABILITIES EQUITY Payroll Register Chart of Accounts Payroll Register Journal Instructions The following data for Throwback Industries in relate to the pool for the week ended December 0.2048 Employee Hours Worked Hourly Rate $68.00 Weekly Salary Federal Income Tax $750 20 Retirement Saving $100 40 Aaron Cobb 41 62.00 37.68 110 70.00 Clemente 120 832.64 366.04 0 56.00 62.00 45 641.84 130 D Maggio Griffey, Mantle Robinson $1.000 342.45 120 36 54.00 382 56 130 Williams 2,000 398.24 125 Vaughn 62.00 584.72 50 Employees Mantle and Williams are office staff, and all of the other employees are sales personnel. All sales personnel are paid 1 times the regular rate for all hours in excess of 40 hours per week. The social security tax rate is 6.0%, and Medicare tax is 1.5% of each employeo's annual earings. The next payrol check to be used is No. 901 Required: 1. Prepare a payroll register for Throwback Industries Inc. for the week ended December 9, 2018. Assume the normal working hours in a week are 40 hours. Enter amounts as positive numbers. Round your intermediate calculations and final answers to two decimal places. 2. Joumaize the entry to record the payroll for the week. Refer to the chart of accounts for the exact wording of the accounts. CNOWjumals do not use ines for journal explanations. Every ine on a journal page is used for debitor credit antries CNOW joumals will automatically indent Chart of Accounts CHART OF ACCOUNTS Throwback Industries Inc. General Ledger ASSETS REVENUE 110 Cash 410 Sales 610 Interest Revenue 111 Accounts Receivable 112 Interest Receivable 113 Notes Receivable EXPENSES 115 Merchandise Inventory 510 Cost of Merchandise Sold 116 Supplies 520 Office Salaries Expense 118 Prepaid Insurance 120 Land 123 Building 124 Accumulated Depreciation-Building 125 Office Equipment 521 Sales Salaries Expense 524 Depreciation Expense-Building 525 Delivery Expense 526 Repairs Expense 529 Selling Expenses 531 Rent Expense 532 Depreciation Expense-Office Equipment 533 Insurance Expense 534 Supplies Expense 126 Accumulated Depreciation Office Equipment LIABILITIES 210 Accounts Payable Aile Chart of Accounts 120 Land 123 Building 124 Accumulated Depreciation Building 125 Office Equipment 126 Accumulated Depreciation Office Equipment 524 Depreciation Expense-Building 525 Delivery Expense 526 Repairs Expense 529 Selling Expenses 531 Rent Expense 532 Depreciation Expense-Office Equipment LIABILITIES 533 Insurance Expense 210 Accounts Payable 534 Supplies Expense 213 Interest Payable 535 Payroll Tax Expense 538 Cash Short and Over 214 Notes Payable 215 Salaries Payable 539 Product Warranty Expense 540 Miscellaneous Expense 216 Social Security Tax Payable 217 Medicare Tax Payable 710 Interest Expense 218 Employees Federal Income Tax Payable 221 Retirement Savings Deductions Payable 224 Federal Unemployment Tax Payable 225 State Unemployment Tax Payable EQUITY 310 Owner, Capital 311 Owner, Drawing Payroll Register Instructions Chart of Accounts Payroll Register Journal Payroll Register Earrings Earnings Earings Payroll for Week Ending December 9, 20Y8 Deductions Deduction Deductions Wiheld Wereld Wetheld Social Security Federal income Medicare Tax Deductions Withheld Pald Paid Employee Total Hours Regular Overtime Deductions Withheld Retirement Savings 5100.00 Total Net Pay Oce 3 Aaron 46.00 $750.20 901.00 4 Cobb 41.00 59768 110.00 902.00 5 41.00 83264 120.00 903.00 6 35.00 Clemente Di Magia Griffey Mantle 90400 45.00 36604 64184 342.45 150.00 905.00 906.00 120.00 Robinson 56.00 38256 150 DO 7.00 15 Williams 59824 125.00 90800 11 Vaughn 42.00 58472 50.00 909.00 Tetails 54856.37 $385.00 hings Deductions Withheld Paid Pald Accounts Debited Accounts Debited Payroll for Week Ending December 9, 20YB Deductions Deductions Deductions Withheld Withheld Withheld Social Security Federal Income Medicare Tax Tax Tax $750.20 Deductions Withheld Retirement Savings $100.00 Total Net Pay Ck. No Sales Salaries Expense Office Salaries Expense 901.00 537.68 110.00 902.00 832.64 120.00 903.00 366.04 904.00 641.84 130.00 905.00 906.00 34245 120.00 382.56 130.00 907.00 398 24 125.00 900.00 584.72 50.00 909.00 $4,836,37 $885.00 Instructions Chart of Accounts Payroll Register Journal Journal 2. Journaltre the entry to record the payroll for the week. Refer to the chart of accounts for the exact wording of the account titles. GNOW Journals do not use Ines for journal explanations. Every line on a joumal page is used for debit or credit entries. CNOW Journals will automatically indent a credit entry when a credit amount is entered. If required, round your answers to two decimal places. PAGE 1 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF DEBIT CREDIT ASSETS LIABILITIES EQUITY