Need help wth the payroll register, i did most of it and got some of it wrong. A
ID: 2586998 • Letter: N
Question
Need help wth the payroll register, i did most of it and got some of it wrong. Also some help on the journal as well.
Employees Mantle and Williams are office staff, and all of the other employees are sales personnel. All sales personnel are paid 1½ 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 employee’s annual earnings. The next payroll check to be used is No. 901.
Payroll Register
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1. Prepare a payroll register for Throwback Industries Inc. for the week ended December 9, 20Y8. Assume the normal working hours in a week are 40 hours. Enter amounts as positive numbers and round your intermediate calculations and final answers to the nearest whole cent (two decimal places).
Score: 145/315
Payroll for Week Ending December 9, 20Y8
1
Earnings
Earnings
Earnings
Deductions
Deductions
Deductions
Deductions
Deductions
Paid
Paid
Account Debited
Account Debited
2
Employee
Total Hours
Regular
Overtime
Total
Social Security Tax
Medicare Tax
Federal Income Tax
Retirement Savings
Total
Net Pay
Ck. No.
Sales Salaries Expense
Office Salaries Expense
3
Aaron
46.00
$750.20
$140.00
#901
4
Cobb
41.00
537.68
150.00
#902
5
Clemente
48.00
836.44
160.00
#903
6
DiMaggio
35.00
366.04
#904
7
Griffey, Jr.
45.00
641.84
170.00
#905
8
Mantle
342.45
160.00
#906
9
Robinson
36.00
382.56
170.00
#907
10
Williams
398.24
165.00
#908
11
Vaughn
42.00
584.72
50.00
#909
12
$4,840.17
$1,165.00
Points:
34.52 / 75
Journal
Shaded cells have feedback.
2. Journalize the entry to record the payroll for the week. If required, round your answers to two decimal places. Refer to the Chart of Accounts for exact wording of account titles.
Question not attempted.
PAGE 1
JOURNAL
ACCOUNTING EQUATION
Score: 0/85
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Required: 1. Prepare a payroll register for Throwback Industries Inc. for the week ended December 9, 20Y8. Assume the normal working hours in a week are 40 hours. Enter amounts as positive numbers and round your intermediate calculations and final answers to the nearest whole cent (two decimal places). 2. Journalize the entry to record the payroll for the week. If required, round your answers to two decimal places. Refer to the Chart of Accounts for exact wording of account titles.Explanation / Answer
Solution:
1) Preparing a Payroll Register for Throwback Industries:
Throwback Industries Inc.
Payroll Register
For the week ended Dec 9 20Y8
2) Preparing the Journal Entry to Record the Payroll for the Week:
Throwback Industries Inc.
Payroll Register
For the week ended Dec 9 20Y8
Earnings Earnings Earnings Deductions Deductions Deductions Deductions Deductions Paid Paid Account Debited Account Debited Employee Total Hours Regular Overtime Total Social Secutiry Tax Medicare Tax Fedral Income Tax U.S Savings Bond Total Net Pay Ck.No Sales Salaries Expense Office Salaries Expense Aaron 46.00 2,720.00 612.00 3,332.00 199.92 49.98 750.20 140.00 1,140.10 2,191.60 #901 3,332.00 Cobb 41.00 2,480.00 93.00 2,573.00 154.38 38.60 537.68 150.00 880.66 1,692.34 #902 2,573.00 Clemente 48.00 2,800.00 840.00 3,640.00 218.40 54.60 836.44 160.00 1,269.44 2,370.56 #903 3,640.00 DiMaggio 35.00 1,960.00 1,960.00 117.60 29.40 366.04 0 513.04 1,446.96 #904 1,960.00 Grifey Jr 45.00 2,480.00 465.00 2,945.00 176.70 44.18 641.84 170.00 1,032.72 1,912.28 #905 2,945.00 Mantle 1,800.00 108.00 27.00 342.45 160.00 637.45 1,162.55 #906 1,800.00 Robinson 36.00 1,944.00 1,944.00 116.64 29.16 382.56 170.00 698.36 1,245.64 #907 1,944.00 Williams 2,000.00 120.00 30.00 398.24 165.00 713.24 1,286.76 #908 2,000.00 Vaughn 42.00 2,480.00 186.00 2,666.00 159.96 39.99 584.72 50.00 834.67 1,831.33 #909 2,666.00 Total $16,864.00 $2,196.00 $22,860.00 $1,371.60 $342.91 $4,840.17 $1,165.00 $7,719.68 $15,140.02 $19,060.00 $3,800.00Related Questions
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