URGENTLY REQUIRED IN AROUND AN HOUR!

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		47		$	12.50			M				1				$	17,620
Roma Benson		48			11.30			M				4					16,955
Frank Cortez		40			11.00			M				1					16,060
Winter Wise		51			10.50			S				2					14,640

Required:

Enter the basic payroll information for each employee in a payroll register. Record the employees 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

Compute the regular, overtime, and gross earnings for each employee. Enter the figures in the payroll register.

Compute the amount of social security tax to be withheld from each employees 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.

Compute the amount of Medicare tax to be withheld from each employees 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.

Determine the amount of federal income tax to be withheld from each employees total earnings. Use the tax tables in Figure 10.2a & Figure 10.2b. Enter the figures in the payroll register.

Compute the net pay of each employee and enter the figures in the payroll register.

Prepare a general journal entry to record the payroll for the week ended June 30.

Record the general journal entry to summarize payment of the payroll on July 3.

Analyze: What are Andy Andersons cumulative earnings on June 30, 20X1?

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 rate on th 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 amount of fe withheld from each employee's total earnings. (Use the table shown in Figure 10.2A \& Figure 10.2B whichever is applicable). Finally compute the net pay of each employee. intermediate calculations and final answers to 2 decimal places.) Prepare a general journal entry to record the payroll expenses and also summarize payment of the payroll for the week ended June and July 3 . (Round your intermediate calculations and final answers to 2 decimal places.) Journal entry worksheet Record the company's payroll to be paid at a later date. Note: Enter debits before credits. Prepare a general journal entry to record the payroll expenses and also summarize payment of the payroll for the week en and July 3. (Round your intermediate calculations and final answers to 2 decimal places.) Journal entry worksheet Record the entry to summarize payment of the payroll. Note: Enter debits before credits. 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. Analyze: What are Andy Anderson's cumulative earnings on June 30,201 ? Complete this question by entering your answers in the tabs below. What are Andy Anderson's cumulative earnings on June 30 ? (Round your intermediate calculations and final answer to 2 decimal places.) FIGURE 10.2A Sample Federal Withholding Tax Tables (Partial) for Single Persons-Weekly Payroll Period SINGLE Persons-WEEKLY Payroll Period (For Wages Paid Through December 20X1) FIGURE 10.2B Sample Federal Withholding Tax Tables (Partial) for Married Persons-Weekly Payroll Period MARRIED Persons-WEEKLY Payroll Period (For Wages Paid Through December 20X1) If the wages are - 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 rate on th 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 amount of fe withheld from each employee's total earnings. (Use the table shown in Figure 10.2A \& Figure 10.2B whichever is applicable). Finally compute the net pay of each employee. intermediate calculations and final answers to 2 decimal places.) Prepare a general journal entry to record the payroll expenses and also summarize payment of the payroll for the week ended June and July 3 . (Round your intermediate calculations and final answers to 2 decimal places.) Journal entry worksheet Record the company's payroll to be paid at a later date. Note: Enter debits before credits. Prepare a general journal entry to record the payroll expenses and also summarize payment of the payroll for the week en and July 3. (Round your intermediate calculations and final answers to 2 decimal places.) Journal entry worksheet Record the entry to summarize payment of the payroll. Note: Enter debits before credits. 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. Analyze: What are Andy Anderson's cumulative earnings on June 30,201 ? Complete this question by entering your answers in the tabs below. What are Andy Anderson's cumulative earnings on June 30 ? (Round your intermediate calculations and final answer to 2 decimal places.) FIGURE 10.2A Sample Federal Withholding Tax Tables (Partial) for Single Persons-Weekly Payroll Period SINGLE Persons-WEEKLY Payroll Period (For Wages Paid Through December 20X1) FIGURE 10.2B Sample Federal Withholding Tax Tables (Partial) for Married Persons-Weekly Payroll Period MARRIED Persons-WEEKLY Payroll Period (For Wages Paid Through December 20X1) If the wages are