Question
The following data for Throwback Industries, Inc. relate to the payroll for the week ended December 7, 2012: Employees Marino and Starr are office staff,
The following data for Throwback Industries, Inc. relate to the payroll for the week ended December 7, 2012: Employees Marino and Starr are office staff, and all of the other employees are sales personnel. All sales personnel are paid 1 times the regular rate for all hours in excess of 40 hours per week. The social security tax rate is 6.0%, and Medicare tax is 1.5% of each employees annual earnings. The next payroll check to be used is No. 625. Instructions 1. Prepare a payroll register for Throwback Industries, Inc. for the week ended December 7, 2012. Use the following columns for the payroll register: Name, Total Hours, Regular Earnings, Overtime Earnings, Total Earnings, Social Security Tax, Medicare Tax, Federal Income Tax, U.S. Savings Bonds, Total Deductions, Net Pay, Ck. No., Sales Salaries Expense, and Office Salaries Expense. 2. Journalize the entry to record the payroll sales for the week
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