Question
prepare two word documents showing general journal entries for the employee and employer side, payment of wages, accrual of vacation time, and payment of tax
prepare two word documents showing general journal entries for the employee and employer side, payment of wages, accrual of vacation time, and payment of tax liabilities.
1- Use 6.2 percent for Social Security and 1.45 percent for Medicare for each employee. For FUTA, use .08 of the first $7,000 of each employee. For SUTA, use 5.4% of the first $8,500 of each employee.
All of the employees are paid on a weekly basis on Friday.
This project will focus on payroll for the dates ending 01/15/20 and 01/24/2020.
For all voluntary benefits, there is a 50/50 cost sharing agreement.
Any information students need to use such as tax tables, should be retrieved from the Georgia Department of Revenue and Internal Revenue Service using the 2018 tax year.
Employee Name | Hourly or Salary | Filing Status | Number of Allowances for Federal and State Withholding. | Pay rate/hour | Hourly worked For the first payroll period | Hourly worked For the second payroll period | Over time hours | earn hours of vacation each pay period
| |
Applie, Suzie | Hourly | Single | 0 | 15 | 50 | 45 | 10 | 3 | |
Banana, Tim | Hourly | Married | 1 | 25 | 70 | 60 |
| 3 | |
Catalope, Cheri | Salary | Married | 3 | 20 | 60 | 70 |
| 3 | |
Dill, Sadie | Salary | Head of Household | 3 | 35 | 70 | 65 |
| 3 | |
Eggplant, Bill | Hourly | Single | 0 | 13 | 55 | 45 | 20 | 3 | |
Fort, Kyle | Hourly | Married | 0 | 15 | 45 | 55 |
| 3 | |
Gould, Matt | Salary | Married | 4 | 30 | 60 | 65 |
| 3 | |
Hamm, Mason | Hourly | Single | 1 | 15 | 65 | 56 |
| 3 | |
Igloo, Alice | Hourly | Married | 2 | 15 | 56 | 70 | 25 | 3 | |
Jasper, Alex | Hourly | Single | 2 | 25 | 55 | 45 |
| 3 |
|
Employee Name | Healthcare, | union | Dental | Vision | Dependednt Education Fund | Accident Insuranc | 401K |
Applie, Suzie | $0 | 0 | 0 | 0 | 0 | 0 | 0 |
Banana, Tim | $10 | 0 | $5 | $5 | 0 | 0 | $20 |
Catalope, Cheri | 0 | $5 | 10 | 6 | 0 | 0 | 12 |
Dill, Sadie | 15 | 0 | 5 | 7 | 5 | 7 | 25 |
Eggplant, Bill | 0 |
| 0 | 0 | 0 | 0 | 0 |
Fort, Kyle | 0 | 0 | 0 | 0 | 0 | 0 | 15 |
Gould, Matt | 20 | 0 | 9 | 8 | 0 | 0 | 15 |
Hamm, Mason | 10 | 0 | 0 | 0 | 0 | 0 | 0 |
Igloo, Alice | 0 | 0 | 0 | 0 | 0 | 0 | 15 |
Jasper, Alex | 12 | 0 | 5 | 8 | 0 | 0 | 18 |
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