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please help! Payroll Register and Payroll Journal Entry Mary Losch operates a travel agency called Mary's Luxury Travel. She has five employees, all of whom
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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 payroll register, individual employee earnings records, and a general journal. Mary's Luxury Travel uses a weekly federal income tax withholding table. Refer to Figure 8-4 in the text. The payroll data for each employee for the week ended March 22, 20-, are shown. Employees are paid 1 times the regular rate for working over 40 hours a week. Name Bacon, Andrea Cole, Andrew Hicks, Melvin Leung, Cara Melling, Melissa No. of Marital Allowances Status M 4 Required: HW H 1 3 1 2 S M S M Total Hours Worked Mar. 16-22 44 40 43 35 40 Rate $12.00 12.00 10.50 11.00 13.00 Social Security tax is withheld from the first $128,400 of earnings at the rate of 6.2%. Medicare tax is withheld at the rate of 1.45%, and city earnings tax at the rate of 1%, both applied to gross pay. Bacon and Leung have $14 withheld and Cole and Hicks have $6 withheld for health insurance. Bacon and Leung have $22 withheld to be invested. in the travel agency's credit union. Cole has $39.00 withheld and Hicks has $18.00 withheld under a savings bond purchase plan. Mary's Luxury Travel's payroll is met by drawing checks on its regular bank account. The checks were issued in sequence, beginning with Check No. 423.
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 payroll register, individual employee earnings records, and a generai journal. 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 March 22, 20-, are shown. Employees are paid 13/2 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 6.2%. Medicare tax is withheid at the rate of 1.45%, and city earnings tax at the rate of 1%, both applied to gross pay. Bacon and Leung have $14 withheld and Cole and Hicks have $6 withheld for health insurance. Bacon and Leung have $22 withheld to be invested in the travel agency's credit union. Cole has $39.00 withheld and Hicks has $18.00 withheld under a savings bond purchase plan. Mary's Luxury Travel's payroll is met by drawing checks on its regular bank account. The checks were issued in sequence, beginning with Check No. 423. Required: 1. Prepare a payroll register for Mary's Luxury Travel for the week ended March 22, 20-., (In the Taxable Eamings/Unemployment Compensation column, enter the same amounts as in the Social Security column.) Total the amount columns. If required, round yaur answers to the nearest cent. Tous Eompentation column, enter the dame the-same Page: 1 Step by Step Solution
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