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Show work please! Instructions Payroll Register and Payroll Journal Entry 1. Prepare a payroll register for Mary's Luxury Travel for the week ended March 22,
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Instructions Payroll Register and Payroll Journal Entry 1. Prepare a payroll register for Mary's Luxury Travel for the week ended March 22, 20--(In the Taxable Earnings/Unemployment Compensation column, enter the same amounts as in the Social Security column.) Total the amount columns. Round your answers to the nearest cent. 2. Assuming that the wages for the week ended March 22 were paid on March 24, prepare the journal entry for the payment of the payroll. When required, enter amounts in dollars and cents. If an amount box does not require an entry, leave it blank. , 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 given below. Employees are paid 17 times the regular rate for working over 40 hours a week. No. of Marital Total Hours Total Earnings Name Allowances Status worked Mar. 16-22 Rate Jan. 1-Mar. 15 Bacon, Andrea 4 46 $12 $5,480 Cole, Andrew 40 12 5,900 Hicks, Melvin 3 M 45 10.5 5,000 Leung, Cara 1 36 11 5,134 Melling, Melissa 2 M 40 10.5 4,707.5 Social Security tax is withheld from the first $118,500 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 $15 withheld and Cole and Hicks have $6 withheld for health insurance. Bacon and Leung have $18 withheld to be invested in the travel agency's credit union. Cole has $38.5 withheld and Hicks has $17.75 withheld under a savings bond purchase plan. M 1 S S 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 Entry 1. Prepare a payroll register for Mary's Luxury Travel for the week ended March 22, 20--. (In the Taxable Earnings/Unemployment Compensation column, enter the same amounts as in the Social Security column.) Total the amount columns. Round your answers to the nearest cent. Payroll Register for Period Ended Earnings Taxable Earnings No. Marit. Cumulative Unemploy. Comp. Social Security Federal Income Social Security Tax Tax Medicare T Name Allow. Status Regular Overtime Total Total Bacon, Andrea M Cole, 1 S Andrew Hicks, Melvin 3 M Leung, 1 S Cara Melling, Melissa 2 M sation column, enter the same amounts as in the Ended March 22 20-- Deductions Health ederal Income Social Security Tax Tax Medicare Tax Other Total Net Pay Ck. No. City Tax Insurance General Journal 2. Assuming that the wages for the week ended March 22 were paid on March 24, prepare the journal entry for the payment of the payroll. When required, enter amounts in dollars and cents. If an amount box does not require an entry, leave it blank. Page: 1 DATE ACCOUNT TITLE DOC. POST. NO. REF. DEBIT CREDIT 1 Mar. 24 1 2 2 3 3 4 4 5 5 6 6 7 7 8 8 10 9 9 10 Payroll for week ended March 22 10 Instructions Payroll Register and Payroll Journal Entry 1. Prepare a payroll register for Mary's Luxury Travel for the week ended March 22, 20--(In the Taxable Earnings/Unemployment Compensation column, enter the same amounts as in the Social Security column.) Total the amount columns. Round your answers to the nearest cent. 2. Assuming that the wages for the week ended March 22 were paid on March 24, prepare the journal entry for the payment of the payroll. When required, enter amounts in dollars and cents. If an amount box does not require an entry, leave it blank. , 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 given below. Employees are paid 17 times the regular rate for working over 40 hours a week. No. of Marital Total Hours Total Earnings Name Allowances Status worked Mar. 16-22 Rate Jan. 1-Mar. 15 Bacon, Andrea 4 46 $12 $5,480 Cole, Andrew 40 12 5,900 Hicks, Melvin 3 M 45 10.5 5,000 Leung, Cara 1 36 11 5,134 Melling, Melissa 2 M 40 10.5 4,707.5 Social Security tax is withheld from the first $118,500 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 $15 withheld and Cole and Hicks have $6 withheld for health insurance. Bacon and Leung have $18 withheld to be invested in the travel agency's credit union. Cole has $38.5 withheld and Hicks has $17.75 withheld under a savings bond purchase plan. M 1 S S 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 Entry 1. Prepare a payroll register for Mary's Luxury Travel for the week ended March 22, 20--. (In the Taxable Earnings/Unemployment Compensation column, enter the same amounts as in the Social Security column.) Total the amount columns. Round your answers to the nearest cent. Payroll Register for Period Ended Earnings Taxable Earnings No. Marit. Cumulative Unemploy. Comp. Social Security Federal Income Social Security Tax Tax Medicare T Name Allow. Status Regular Overtime Total Total Bacon, Andrea M Cole, 1 S Andrew Hicks, Melvin 3 M Leung, 1 S Cara Melling, Melissa 2 M sation column, enter the same amounts as in the Ended March 22 20-- Deductions Health ederal Income Social Security Tax Tax Medicare Tax Other Total Net Pay Ck. No. City Tax Insurance General Journal 2. Assuming that the wages for the week ended March 22 were paid on March 24, prepare the journal entry for the payment of the payroll. When required, enter amounts in dollars and cents. If an amount box does not require an entry, leave it blank. Page: 1 DATE ACCOUNT TITLE DOC. POST. NO. REF. DEBIT CREDIT 1 Mar. 24 1 2 2 3 3 4 4 5 5 6 6 7 7 8 8 10 9 9 10 Payroll for week ended March 22 10Step by Step Solution
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