Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Payroll Register The following data for Throwback Industries Inc. relate to the payroll for the week ended December 9, 20Y8: Hours Hourly Weekly Federal Retirements
Payroll Register The following data for Throwback Industries Inc. relate to the payroll for the week ended December 9, 20Y8: Hours Hourly Weekly Federal Retirements Employee Worked Rate Salary Income Tax Savings Aaron 43 $44 $450.34 $105 Cobb 48 38 424.84 90 Clemente 45 46 415.15 50 DiMaggio 36 32 241.92 35 Griffey, Jr. 41 40 348.60 50 Mantle $2,040 489.60 40 Robinson 35 28 147.00 35 Williams 2,280 501.60 40 Vaughn 44 36 331.20 55 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%, and Medicare tax is 1.5% of each employee's annual earnings. The next payroll check to be used is No. 901. Required: 1. Prepare a payroll register for Throwback Industries Inc. for the week ended December 9, 20Y8. Assume the normal working hours in a week are 40 hours. Enter amounts as positive numbers. Round your intermediate calculations and final answers to the nearest whole cent (two decimal places). Earnings Payroll for Week Ending December Deductions Withh Federal Total Social Security Tax Medicare Income Name Hours Regular Overtime Total Tax Tax Aaron 43 $450.34 Cobb 48 424.84 Clemente 45 DiMaggio 36 415.15 241.92 Griffey, Jr. 41 Mantle 348.60 489.60 Robinson 35 Williams 147.00 501.60 331.20 Vaughn 44 Totals oll for Week Ending December 9, 2018 Deductions Withheld edicare Tax Paid Accounts Debited Federal Sales Office Income Retirement Salaries Salaries Ck. No. Tax Savings Total Net Pay Expense Expense $450.34 $105 901 424.84 90 902 415.15 50 903 241.92 35 904 348.60 50 905 489.60 40 906 147.00 35 907 501.60 40 908 331.20 55 909 2. Journalize the entry to record the payroll for the week. If required, round your answers to two decimal places. If an amount box does not require an entry, leave it blank
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started