PHARMACY PAYROLL
Payroll record Instructions After you have read and understood the learning resources in this module, work through the following exercises using Chapter 11, "Current Liabilities and Payroll" from the textbook. You must include a cover page and references in APA style. 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 at 6.20%, Medicare discount at 1.45%, tax amount ( state taxes) applying 7% 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. Jornalize 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: Name of the employee Hours worked Hourly wage Weekly salary Withdrawal payment Union payment Juan del Pueblo 43 $8.50 $21.93 $15 Ramonita Ramirez 41 11.50 37.12 Managerial, does not pay a fee. Managerial, does not pay Brenda Montalvo 55 $1,100 88.00 a fee. Camille Monk 40 7.25 23.02 15 Jorge Emmanueli 46 25.00 92.00 15 Mariel estrada 60 10.00 48.00 15 Emanuel Reyes 40 8.00 25.60 15 Ernesto Ramirez 40 8.25 26.40 15 Daniela morales 38 10.75 32.68 15Module 7 Task 7.1 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 at 6.20%, Medicare discount at 1.45%, amount of state taxes applying 7% 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. . Jornalize 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: Name of the employee Hours worked Hourly Weekly Withdraw Union al wage salary payment payment Juan del Pueblo 8.5 21.93 15.00 Ramonita Ramirez 41 11.50 37.12 Managerial, does not pay a fee. Brenda montalvo 55 1,100.00 88.00 Managerial, does not pay a fee. Camilo Monge 10 7.25 23.02 15.00 Jorge Emmanueli 16 25.0 92.00 15.00 Mariel estrada 50 10.0 18.00 15.00 Emanuel Reyes 40 8.0 25.60 15.00 Ernesto Ramirez 40 8.2 26.40 15.0 Daniela morales 38 10.75 32.68 15.00 Angel Carrasquillo 43 860.00 68.80 Managerial, does not pay a fee. 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 at 6.20%, Medicare discount at 1.45%, amount of state taxes applying 7% and retirement savings. Name of the employee Hours worked Regular Extra Hourly Regular Total hours hours wage Salary Extra salary Total gross Discount SS MC discount Income tax Union salary Discount discounts Net salary $ $ $ $ $ $ Data to validate: Regular salary $ 5,508.50 / Discount SS $ 377.52 MC $ 88.29 / Total discounts $ 997.04 / Net salary $ 5,091.96 2. Calcula el salario bruto de cada empleado. . Calcula la cantidad de retention del seguro social y Medicare. 4. Calcula la paga neta de cada empleado. Net salary H.H MC 6 6 0 V Q UI A W N H O D O V G UI A W N + 6 6 0 V MI VI A W N H $ $ Data to validate: Gross salary $ 6,089 / Discount SS $ 377.52 MC $ 88.29 / Total discounts $ 997.04 / Net salary $ 5,091.96 5. Jornaliza la entrada para registrar el pago de nomina. Date Account REF Debit Credit Data to validate: Salary expense $ 6,089 in debit / Salaries payable $ 5,091.96 in credit / Sum of all credits $ 6,089
