Problem 10.2A (Algo) Computing gross earnings, determining deductions, preparing payroll register, journalizing payroll transactions. LO 10-2, 10-3, 10-4, 10-5 City Place Movie Theaters has four employees and pays them on an hourly basis. During the week beginning June 24 and ending June 30, these employees worked the hours shown below. Information about hourly rates, marital status, withholding allowances, and cumulative earnings prior to the current pay period also appears below. Consider any hours worked beyond 40 in the week as overtime hours and overtime pay at one and one-half times their regular hourly rate. Regular Hourly Marital Withholding Cumulative Employee Hours Worked Rate Status Allowances Earnings Andy Anderson 49 $11.20 $17.480 Roma Benson 50 9.90 M 4 16,815 Frank Cortez 40 9.70 M 15,920 Winter Wise 53 9.20 S 14,500 M 1 Required: 1. Enter the basic payroll Information for each employee in a payroll register. Record the employee's name, number of withholding allowances, marital status, total and overtime hours, and regular hourly rate. Note: Consider any hours worked beyond 40 in the week as overtime hours and overtime pay at one and one-half times their regular hourly rate 2. Compute the regular , overtime, and gross earnings for each employee. Enter the figures in the payroll register. 3. Compute the amount of social security tax to be withheld from each employee's earnings. Assume a 6.2 percent social security rate on the first $122,700 earned by the employee during the year. Enter the figures in the payroll register . 4. Compute the amount of Medicare tax to be withheld from each employee's earnings. Assume a 1.45 percent Medicare tax rate on all salaries and wages earned by the employee during the year. Enter the figures in the payroll register. 5. Determine the amount of federal income tax to be withheld from each employee's total earnings. Use the tax tables in Figure 10.2a & Figure 10.2b. Enter the figures in the payroll register. 6. Compute the net pay of each employee and enter the figures in the payroll register. 7. Prepare a general Journal entry to record the payroll for the week ended June 30. 8. Record the general journal entry to summarize payment of the payroll on July 3, OOOOO S0000 OOOOO OOOOO OOOOO OOOOO SOOOO 00000 OOOOO OOOOO ch SOOOO OOOOO OOOOO OOOOOOOOOO OOOOO DODOO OOOOO OOOOO OOOOO OOOOOOOO 60 BOOOOOOOOO OOOOO CODOOOOOOO OOOOO QOOOOOOOOO ROOOO OOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO OOOOO OOONO TANN 9 SOOOO 00000000000000000000000000000000000 SON NORRNR KONG in **888 8888 XNX 38 38 DOMOWNED DOOOO OOOOO OOOOO OOOOO OOOOO OOOOO 00008 10 9 For Wages Paid Through December 20X1) And the number of withholding allowances claimed is - he amount of income tax to be withheld is 2 MARRIED Persons-WEEKLY Payroll Period But less than If the wages are At least goooo 0000000000 60000 0000000000 ? , 20000 000DO DOOOO OODOO DOOGENHOF ORNAR NARAR AS 9995 8338 80000 OOOOO OOOOO w upon SOOOO OOO N899 8989898989 98 989 98 80% UN8000 GUNA O 250 410 510 529 530 600 610 620 Or9 OV9 125 130 135 140 145 150 155 150 165 200 OOE 494 460 OG SA 510 480 470 460 440 410 9 300 200 700 250 240 180 o :: www tween whow Sun -- 88998 399 9 898 NON a WANNUT OOO-NM OOOOO OOOOS ideo - *g UNN OOOOO OOOOOOOOOO OOOOO 00008 8 x 15 1 s = - NOOD OOOOO OOOOO OOOOO OOOOO OOOOO OOO At least But less the wages are than SINGLE Persons-WEEKLY Payroll Period 1 The 4 of income tax And the number of withholding allowances claimed is 6 be withheld is 7 For Wages Poid Through December 20X1) 10 MOMO TIRARNAR HAR OOOO QOOQO QOOOO OOOOO OOOOOOOOOO OOOOO OOOOS on 2% GO TWN OOOOOOOOOO OOOOO GOOOO DOOOOOOOOO OOOOOOOOO ONDEN NOOOOOOOOOOOOOOOO OOOOOOOOOO OOOOO 90000000000000000000 WNOONDO OOOOO OOOOOOOOOOOOOOO OOOOO 00000 OOOOO OOOOOOOOOO OOOOOOOOO 00 JOU NOOO OOOOO OOOOO OOOOOOOOOOOOOO OOOOO Oh OOOO OOOOO QOOOO OODOO 0000000000 QOOOO 00000 2000OOOOOO QOOOO 0000000000 OOOOO OOOOO OOOOO OOOOO OOOOO OOOOO OOOOO OOOOO OOOOO OOOOO OOOOO 0000 Complete this question by entering your answers in the tabs below. Payroll Register General Journal Analyze Compute the regular, overtime, gross earnings, social security tax and Medicare tax to be withheld from each employee's earnings. Assume a 6.2 percent social security earned by the employee during the year. Assume a 1.45 percent Medicare tax rate on all salaries and wages earned by the employee during the year. Determine the am withheld from each employee's total earnings. (Use the table shown in Figure 10.2A & Figure 10.28 whichever is applicable). Finally compute the net pay of each em Intermediate calculations and final answers to 2 decimal places.) Payroll register Deductions Week beginning: June 24 Earings Regular time Overtime camingo Gross amount earnings And ending: June 30 Taxable wages Social Social security Medicare security Employee Cumulative earnings Paid: July 3 Distribution Wages Net amount expense Medicare Income tax Andy Anderson Roma Benson Frank Cortez Winter Wise $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00 5 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00 General Journal ntering your answers in the tabs below. nalyze gross earnings, social security tax and Medicare tax to be withheld from each employee's earnings. Assume a 6.2 percent social security rate on the first $122,700 the year. Assume a 1.45 percent Medicare tax rate on all salaries and wages earned by the employee during the year. Determine the amount of federal income tax to be otal earnings. Use the table shown in Figure 10.2A & Figure 10.28 whichever is applicable). Finally compute the net pay of each employee. (Round your al answers to 2 decimal places.) Show less Paid: July 3 Distribution Deductions ginning: June 24 Earnings ertime mings Gross amount Cumulative earning And ending: June 30 Taxable wages Social Social Medicare security security Medicare Income tax Net amount Wages expense 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00 General Journal Analyze: What are Andy Anderson's cumulative earnings on June 30, 20X1? Complete this question by entering your answers in the tabs below. Payroll General Register Journal Analyze What are Andy Anderson's cumulative earnings on June 307 (Round your intermediate calculations and final answer to 2 decimal places.) Cumulative earnings Problem 10.2A (Algo) Computing gross earnings, determining deductions, preparing payroll register, journalizing payroll transactions. LO 10-2, 10-3, 10-4, 10-5 City Place Movie Theaters has four employees and pays them on an hourly basis. During the week beginning June 24 and ending June 30, these employees worked the hours shown below. Information about hourly rates, marital status, withholding allowances, and cumulative earnings prior to the current pay period also appears below. Consider any hours worked beyond 40 in the week as overtime hours and overtime pay at one and one-half times their regular hourly rate. Regular Hourly Marital Withholding Cumulative Employee Hours Worked Rate Status Allowances Earnings Andy Anderson 49 $11.20 $17.480 Roma Benson 50 9.90 M 4 16,815 Frank Cortez 40 9.70 M 15,920 Winter Wise 53 9.20 S 14,500 M 1 Required: 1. Enter the basic payroll Information for each employee in a payroll register. Record the employee's name, number of withholding allowances, marital status, total and overtime hours, and regular hourly rate. Note: Consider any hours worked beyond 40 in the week as overtime hours and overtime pay at one and one-half times their regular hourly rate 2. Compute the regular , overtime, and gross earnings for each employee. Enter the figures in the payroll register. 3. Compute the amount of social security tax to be withheld from each employee's earnings. Assume a 6.2 percent social security rate on the first $122,700 earned by the employee during the year. Enter the figures in the payroll register . 4. Compute the amount of Medicare tax to be withheld from each employee's earnings. Assume a 1.45 percent Medicare tax rate on all salaries and wages earned by the employee during the year. Enter the figures in the payroll register. 5. Determine the amount of federal income tax to be withheld from each employee's total earnings. Use the tax tables in Figure 10.2a & Figure 10.2b. Enter the figures in the payroll register. 6. Compute the net pay of each employee and enter the figures in the payroll register. 7. Prepare a general Journal entry to record the payroll for the week ended June 30. 8. Record the general journal entry to summarize payment of the payroll on July 3, OOOOO S0000 OOOOO OOOOO OOOOO OOOOO SOOOO 00000 OOOOO OOOOO ch SOOOO OOOOO OOOOO OOOOOOOOOO OOOOO DODOO OOOOO OOOOO OOOOO OOOOOOOO 60 BOOOOOOOOO OOOOO CODOOOOOOO OOOOO QOOOOOOOOO ROOOO OOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO OOOOO OOONO TANN 9 SOOOO 00000000000000000000000000000000000 SON NORRNR KONG in **888 8888 XNX 38 38 DOMOWNED DOOOO OOOOO OOOOO OOOOO OOOOO OOOOO 00008 10 9 For Wages Paid Through December 20X1) And the number of withholding allowances claimed is - he amount of income tax to be withheld is 2 MARRIED Persons-WEEKLY Payroll Period But less than If the wages are At least goooo 0000000000 60000 0000000000 ? , 20000 000DO DOOOO OODOO DOOGENHOF ORNAR NARAR AS 9995 8338 80000 OOOOO OOOOO w upon SOOOO OOO N899 8989898989 98 989 98 80% UN8000 GUNA O 250 410 510 529 530 600 610 620 Or9 OV9 125 130 135 140 145 150 155 150 165 200 OOE 494 460 OG SA 510 480 470 460 440 410 9 300 200 700 250 240 180 o :: www tween whow Sun -- 88998 399 9 898 NON a WANNUT OOO-NM OOOOO OOOOS ideo - *g UNN OOOOO OOOOOOOOOO OOOOO 00008 8 x 15 1 s = - NOOD OOOOO OOOOO OOOOO OOOOO OOOOO OOO At least But less the wages are than SINGLE Persons-WEEKLY Payroll Period 1 The 4 of income tax And the number of withholding allowances claimed is 6 be withheld is 7 For Wages Poid Through December 20X1) 10 MOMO TIRARNAR HAR OOOO QOOQO QOOOO OOOOO OOOOOOOOOO OOOOO OOOOS on 2% GO TWN OOOOOOOOOO OOOOO GOOOO DOOOOOOOOO OOOOOOOOO ONDEN NOOOOOOOOOOOOOOOO OOOOOOOOOO OOOOO 90000000000000000000 WNOONDO OOOOO OOOOOOOOOOOOOOO OOOOO 00000 OOOOO OOOOOOOOOO OOOOOOOOO 00 JOU NOOO OOOOO OOOOO OOOOOOOOOOOOOO OOOOO Oh OOOO OOOOO QOOOO OODOO 0000000000 QOOOO 00000 2000OOOOOO QOOOO 0000000000 OOOOO OOOOO OOOOO OOOOO OOOOO OOOOO OOOOO OOOOO OOOOO OOOOO OOOOO 0000 Complete this question by entering your answers in the tabs below. Payroll Register General Journal Analyze Compute the regular, overtime, gross earnings, social security tax and Medicare tax to be withheld from each employee's earnings. Assume a 6.2 percent social security earned by the employee during the year. Assume a 1.45 percent Medicare tax rate on all salaries and wages earned by the employee during the year. Determine the am withheld from each employee's total earnings. (Use the table shown in Figure 10.2A & Figure 10.28 whichever is applicable). Finally compute the net pay of each em Intermediate calculations and final answers to 2 decimal places.) Payroll register Deductions Week beginning: June 24 Earings Regular time Overtime camingo Gross amount earnings And ending: June 30 Taxable wages Social Social security Medicare security Employee Cumulative earnings Paid: July 3 Distribution Wages Net amount expense Medicare Income tax Andy Anderson Roma Benson Frank Cortez Winter Wise $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00 5 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00 General Journal ntering your answers in the tabs below. nalyze gross earnings, social security tax and Medicare tax to be withheld from each employee's earnings. Assume a 6.2 percent social security rate on the first $122,700 the year. Assume a 1.45 percent Medicare tax rate on all salaries and wages earned by the employee during the year. Determine the amount of federal income tax to be otal earnings. Use the table shown in Figure 10.2A & Figure 10.28 whichever is applicable). Finally compute the net pay of each employee. (Round your al answers to 2 decimal places.) Show less Paid: July 3 Distribution Deductions ginning: June 24 Earnings ertime mings Gross amount Cumulative earning And ending: June 30 Taxable wages Social Social Medicare security security Medicare Income tax Net amount Wages expense 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00 General Journal Analyze: What are Andy Anderson's cumulative earnings on June 30, 20X1? Complete this question by entering your answers in the tabs below. Payroll General Register Journal Analyze What are Andy Anderson's cumulative earnings on June 307 (Round your intermediate calculations and final answer to 2 decimal places.) Cumulative earnings