CALCULATOR FULL SC 8. 6. 8. 10 3. $12 $34 $10 8. 8. 8. 8. 8. 14 37 25 9. 10 8. 8. 9. 15 58 25 s are paid 1.5 times the regular hourly rate for all hours worked in excess of 40 hours per week. FICA taxes are 7.65% on the first $127,200 of gross earnings. Ramirez Compa 0.8% federal unemployment taxes on the first $7,000 of gross earnings. he payroll register for the weekly payroll. (Round answers to 2 decimal places, e.g. 15.25.) RAMIREZ COMPANY Payroll Register For the Week Ending January 31 Earnings Deductions e Total Hours Regular Overtime Gross Pay FICA Taxes Federal Income Taxes Health Insurance Total Net Pay th 8.
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- The totals from the first payroll of the year are shown below. TotalEarnings FICAOASDI FICAHI FITW/H StateTax UnionDues NetPay $36,195.10 $2,244.10 $524.83 $6,515.00 $361.95 $500.00 $26,049.22 Journalize the adjustment for accrued wages for the following Monday, which is the end of the accounting period. The gross payroll for that day is $7,475.Concerning payroll accounting - What is the order of calculation on Quarter-hour method & Hundreth-hour method? For example: IN 8:08 OUT 11:57 IN 12:59 OUT 4:57 IN 9:04 OUT 12:17 IN 1:28 OUT 5:18 IN 7:45 OUT 11:45 IN 12:43 OUT 4:01 IN 7:57 OUT 12:04 IN 1:03 OUT 5:06 Thank you for your assistance. Jewelee MarpleFrom the following information, prepare a general journal entry to record the employee benefits expense for Jagger Company for the weekly payroll of May 9. (Click the icon to view the payroll register.) Prepare a general journal entry to record the employee benefits expense for Jagger Company for the weekly payroll of May 9. (Record debits first, then credits. Explanations are not required. Round your answers to the nearest cent.) Es Date May 9 Get more help. Accounts PR Debit (... Credit Payroll register Employee Tad Ness John Yu Tom Wait Total Salary 910 650 830 Print Tax 173 89 158 Deductions CPP 43 30 39 Done ΕΙ 15 11 13 Clear all Net Pay 679 520 620 - X Check answer
- The payroll records of Jasper Co. provide the following data for the weekly pay period ended March 7 Employee Gross Pay Gross Pay To Date Income Taxes Medical Insurance Deduction Union Dues United Way A $500 $6,000 $100 $30 $15 $10 B 600 6,500 120 30 15 20 C 700 5,500 202 50 0 30 Assume CPP is 4.95 % and El is 1.66 %. 1) Prepare the general journal entry to accrue the payroll on March 7. 2) Prepare the general journal entry to record the payroll tax expense for March 7.The information for Perseus Company, shown in the following chart, is available from Perseus’s time records and the employees’ individual earnings records for the pay period that ended on December 22. Name HoursWorked Earnings at Endof Previous Week TotalEarnings Class FederalIncome Tax OtherDeductions Beals, C. 44 62,240.00 1,650.00 Sales 193.37 UW 25 Hines, V. 40 120,540.00 2,841.00 Sales 445.03 AR 95 Gore, L. 40 72,000.00 1,872.00 Sales 182.90 UW 25 Moreland, J. 46 34,090.00 1,040.00 Office 46.00 UW 35 Lindel, K. 43 43,450.00 2,010.00 Office 58.00 AR 75 Nordello, Y. 42 46,000.00 2,200.00 Office 67.00 UW 25 Regan, W. 43 52,640.00 1,120.00 Office 65.00 AR 25 Troutman, D. 40 64,000.00 1,310.00 Sales 90.00 UW 20 Additional Information: Taxable earnings for Social Security are based on the first $118,500. Taxable earnings for Medicare are based on all earnings. Taxable earnings for federal and state unemployment are based on the…The information for Perseus Company, shown in the following chart, is available from Perseus’s time records and the employees’ individual earnings records for the pay period that ended on December 22. Name HoursWorked Earnings at Endof Previous Week TotalEarnings Class FederalIncome Tax OtherDeductions Beals, C. 44 62,240.00 1,650.00 Sales 193.37 UW 25 Hines, V. 40 120,540.00 2,841.00 Sales 445.03 AR 95 Gore, L. 40 72,000.00 1,872.00 Sales 182.90 UW 25 Moreland, J. 46 34,090.00 1,040.00 Office 46.00 UW 35 Lindel, K. 43 43,450.00 2,010.00 Office 58.00 AR 75 Nordello, Y. 42 46,000.00 2,200.00 Office 67.00 UW 25 Regan, W. 43 52,640.00 1,120.00 Office 65.00 AR 25 Troutman, D. 40 64,000.00 1,310.00 Sales 90.00 UW 20 Additional Information: Taxable earnings for Social Security are based on the first $118,500. Taxable earnings for Medicare are based on all earnings. Taxable earnings for federal and state unemployment are based on the…
- The payroll journal for Northport Enterprises, Inc., is shown. Social Security and Medicare are recorded at 4.80% and 1.45% respectively. Brown and Pung are administrative personnel, while the other employees are sales personnel. Using the information provided in the following journal calculate: REQUIRED: 1. Social Security, Medicare, Net Pay for each employee, and column totals. 2. Journal Entry to record the payroll for the company Name Pay Period Ending Gross Wages Federal Income Tax State Income Tax Social Security Medicare Health Insurance Net Pay Check # Brown, J. 02/13/X1 $800.00 $224.00 $38.40 ??? ??? $18.00 ???? 4265 Smith, T. 02/13/X1 750.00 210.00 36.00 ??? ??? 0.00 ??? 4266 Woods, L. 02/13/X1 725.00 203.00 34.80 ??? ??? 18.00 ??? 4267 Pung, A. 02/13/X1 825.00 231.00 39.60 ??? ??? 20.00 ??? 4268 Jones, B. 02/13/X1 600.00 168.00 28.80 ??? ??? 9.00 ??? 4269 Total ??? ??? ??? ??? ??? ??? ??? Attach FileYou are auditing payroll for the Morehead Technologiescompany for the year ended October 31, 2013. Included next are amounts from the client’strial balance, along with comparative audited information for the prior year.Audited Balance Preliminary Balance10/31/2012 10/31/2013Sales $ 51,316,234 $ 57,474,182Executive salaries 546,940 615,970Factory hourly payroll 10,038,877 11,476,319Factory supervisors’ salaries 785,825 810,588Office salaries 1,990,296 2,055,302Sales commissions 2,018,149 2,367,962You have obtained the following information to help you perform preliminary analyticalprocedures for the payroll account balances.1. There has been a significant increase in the demand for Morehead’s products. Theincrease in sales was due to both an increase in the average selling price of 4 percentand an increase in units sold that resulted from the increased demand and an increasedmarketing effort.2. Even though sales volume increased there was no addition of executives, factorysupervisors,…INPUT VALIDATIONDescribe the types of input edits used for the following data in a payrollsystem. a. Employee nameb. Employee numberc. Social security number d. Rate per hour or salarye. Marital statusf. Number of dependents g. Cost centerh. Regular hours workedi. Overtime hours worked
- Instructions According to a summary of the payroll of Mountain Streaming Co., $770,000 was subject to the 6.0% social security tax and the 1.5% Medicare tax. Also, $42,000 was subject to state and federal unemployment taxes. Required: A. Calculate the employer's payroll taxes, using the following rates: state unemployment, 5.4%; federal unemployment, 0.8%. B. Journalize the entry to record the accrual of payroll taxes. Refer to the Chart of Accounts for exact wording of account titles.Payroll Accounting Class (2301-900) Cengage - eBook Bieg/Toland's Payroll Accounting (2021, 31th Edition) Chapter 2 - Computing Wages and Salaries Chapter 2 - Continuing Problem 2B (Onley Company, Excel) I need help finishing the Total Amount (last fourcells) for Regular Earnings and I need all four columns for OT Earnings I will need the formula for the Amount and Total Earnings columns (example: =40*19.5) below I have attached the homework assignment and the information givenIn the Illustrative Case in this chapter, payroll transactions for Brookins Company were analyzed, journalized, and posted for the third quarter of the fiscal year. In this problem, you are to record the payroll transactions for the last quarter of the firms fiscal year. The last quarter begins on April 1, 20--. Refer to the Illustrative Case on pages 6-27 to 6-33 and proceed as follows: a. Analyze and journalize the transactions described in the following narrative. Use the two-column journal paper provided on pages 6-73 to 6-77. Omit the writing of explanations in the journal entries. b. Post the journal entries to the general ledger accounts on pages 6-78 to 6-83. Narrative of Transactions: c. Answer the following questions: 1. The total amount of the liability for FICA taxes and federal income taxes withheld as of June 30 is................................................................................ ________ 2. The total amount of the liability for state income taxes withheld as of June 30 is................................................................................................................ ________ 3. The amount of FUTA taxes that must be paid to the federal government on or before August 1 (assume July 31 is a Sunday) is........................................ ________ 4. The amount of contributions that must be paid into the state unemployment compensation fund on or before August 1 is.................................................. ________ 5. The total amount due the treasurer of the union is........................................ ________ 6. The total amount of wages and salaries expense since the beginning of the fiscal year is ................................................................................................... ________ 7. The total amount of payroll taxes expense since the beginning of the fiscal year is ............................................................................................................ ________ 8. Using the partial journal below, journalize the entry to record the vacation accrual at the end of the companys fiscal year. The amount of Brookins Companys vacation accrual for the fiscal year is 15,000.