The following data for Throwback Industries Inc. relate to the payroll for the week ended December 9, 2018:HoursHourlyWeeklyFederalRetirementsEmployeeWorkedRateSalaryIncome TaxSavingsAaron46$26$293.02$55Cobb41ClementeDiMaggioGriffey, J# 9 8 944392.59604334287.471003728217.56604842458.6460Mantle$2,220532.8045Robinson3530157.5085Williams2,490547.8040Vaughn4440368.00105Employees 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 excessof 40 hours per week. The social security tax rate is 6%, and Medicare tax is 1.5% of each employee's annual earnings. The next payroll check to be used is No. 901.Required:1. Prepare a payroll register for Throwback Industries Inc. for the week ended December 9, 20YS. Assume the normal working hours in a week are 40 hours. Enter amountsas positive numbers. Round your intermediate calculations and final answers to the nearest whole cent (two decimal places).

Throwback Industries Inc. processed its payroll for the week ended December 9, 2018, involving…

Answered: The following data for Throwback…

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter8: Liabilities And Stockholders' Equity

Section: Chapter Questions

Problem 8.2.3P: Recording payroll and payroll taxes The following information about the payroll for the week ended...

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Bart Consulting Firm has the following payroll information for the week ended March 20th: Name Earnings at the end of the previous week Sun. Mon. Tues. Wed. Thurs. Fri. Sat. Pay Rate Federal Income Tax Lauren, F 14,400 8 8 8 8 8 30.00 222.52 Baylor, M 12,000 8 8 8 8 8 25.00 178.55 Lims, T 7,200 8 8 8 8 8 15.00 78.00 Tate, C 6,000 8 8 8 8 8 15.00 62.00 Musker, J 4,320 8 8 8 15.00 15.00 Mako, W 3,888 8 8 8 13.50 11.00 Additional Information: Taxable earnings for Social Security are based on the first $132,900. Taxable earnings for Medicare are based on all earnings. Taxable earnings for federal and state unemployment are based on the first $7,000. Employees are paid time-and-a-half for work in excess of 40 hours per week. Round amounts to the nearest penny. What you must do: Complete the attached Payroll Register (Excel Spreadsheet). Use the following information to help: The Social Security tax rate is 6.2 percent. The Medicare tax…
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 entry to record the employer's payroll taxes (assume a SUTA rate of 3.7%).
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 entry to record the employer's payroll taxes (assume a SUTA rate of 3.7%). For a compound transaction, if an amount box does not require an entry, leave it blank. Round your answers to two decimal places. Debit Credit Payroll taxes: OASDI Payable: HI Payable: FUTA Taxes Payable: SUTA Taxes Payable:
The following data for Throwback Industries Inc., relate to the payroll for the week ended December 9, 20Y8: Federal Weekly Salary Income Tax Employee Aaron Cobb Clemente DiMaggio Griffey, Jr. Mantie. Robinson Hours Worked 48 44 42 34 45 38 Hourly 41 Rate $26 44 34 28 42 30 $2,100 40 2,350 $310.96 435.16 277.78 199.92 418.95 504.00 171.00 517.00 332.00 Retirements Savings $60 105 80 105 95 90 40 Williams 100 Vaughn 95 Employees Mantle and Williams 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%, and Medicare tax is 1.5% of each employee's annual earnings. The next payroll check to be used is No. 901 Required: 4 1. Prepare a payroll register for Throwback Industries Inc. for the week ended December 9, 2018. Assume the normal working hours in a week are 40 hours. Enter amounts as positive numbers. Round your intermediate…
Using the Payroll Journal (PRJ01) for XY Consumer Products, the Total Gross Pay is: $1,228.58 $1,218.58 $1,534.24 O $1,543.24
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 entry to record the payroll. For a compound transaction, if an amount box does not require an entry, leave it blank. If required, round your answers to two decimal places.
Highridge Homes has the following payroll information for the week ended February 21: Name Earnings at End of Previous Week Daily Time Pay Rate Federal Income Tax S M T W T F S Arthur, P. 7,776.00 8 8 8 8 8 44.65 226.78 Bills, D. 2,012.00 8 8 8 8 8 12.10 26.00 Carney, W. 2,056.00 8 8 8 8 8 13.25 27.00 Dorn, J. 757.00 8 8 22.40 11.00 Edgar, L. 2,663.00 8 8 8 8 8 14.95 37.00 Fitzwilson, G. 4,109.00 8 8 8 8 8 8 22.65 125.00 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 first $7,000. Employees are paid time-and-a-half for work in excess of 40 hours per week. Required: 1. Complete the payroll register. The Social Security tax rate is 6.2 percent, and the Medicare tax rate is 1.45 percent. Begin payroll checks with No. 2080. If required, round your intermediate…
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.
Complete Accounting Services has the following payroll information for the week ended December 7. State income tax is computed as 20 percent of federal income tax. NAME BEGINNINGCUMULATIVEEARNINGS TOTAL EARNINGS DEDUCTIONS FEDERALINCOME TAX STATEINCOME TAX Denato, T. 6,820.00 480.00 24.00 4.80 Herrera, M. 6,840.00 470.00 23.00 4.60 Joyner, J. 36,320.00 740.00 58.00 11.60 King, L. 26,200.00 540.00 30.00 6.00 Wilson, M. 116,060.00 2,720.00 456.78 91.36 Yee, N. 28,426.00 605.00 37.00 7.40 Assumed tax rates are as follows: FICA: Social Security, (employer) 6.2 percent (0.062) and (employee) 6.2 percent (0.062) on the first $118,500 for each employee, and Medicare, 1.45 percent (0.0145) on all earnings for each employee. State unemployment tax, 5.4 percent (0.054) on the first $7,000 for each employee. Federal unemployment tax, 0.6 percent (0.006) on the first $7,000 for each employee.a. Prepare a general journal entry to record the payroll as of December 7. The…
Complete Accounting Services has the following payroll information for the week ended December 7. State income tax is computed as 20 percent of federal income tax. NAME BEGINNINGCUMULATIVEEARNINGS TOTAL EARNINGS DEDUCTIONS FEDERALINCOME TAX STATEINCOME TAX Denato, T. 6,820.00 480.00 24.00 4.80 Herrera, M. 6,840.00 470.00 23.00 4.60 Joyner, J. 36,320.00 740.00 58.00 11.60 King, L. 26,200.00 540.00 30.00 6.00 Wilson, M. 116,060.00 2,720.00 456.78 91.36 Yee, N. 28,426.00 605.00 37.00 7.40 Assumed tax rates are as follows: FICA: Social Security, (employer) 6.2 percent (0.062) and (employee) 6.2 percent (0.062) on the first $118,500 for each employee, and Medicare, 1.45 percent (0.0145) on all earnings for each employee. State unemployment tax, 5.4 percent (0.054) on the first $7,000 for each employee. Federal unemployment tax, 0.6 percent (0.006) on the first $7,000 for each employee. Required: 1. Complete the payroll register. Payroll checks begin with Ck.…
Complete Accounting Services has the following payroll information for the week ended December 7. State income tax is computed as 20 percent of federal income tax. NAME BEGINNINGCUMULATIVEEARNINGS TOTAL EARNINGS DEDUCTIONS FEDERALINCOME TAX STATEINCOME TAX Denato, T. 6,820.00 480.00 24.00 4.80 Herrera, M. 6,840.00 470.00 23.00 4.60 Joyner, J. 36,320.00 740.00 58.00 11.60 King, L. 26,200.00 540.00 30.00 6.00 Wilson, M. 116,060.00 2,720.00 456.78 91.36 Yee, N. 28,426.00 605.00 37.00 7.40 Assumed tax rates are as follows: FICA: Social Security, (employer) 6.2 percent (0.062) and (employee) 6.2 percent (0.062) on the first $118,500 for each employee, and Medicare, 1.45 percent (0.0145) on all earnings for each employee. State unemployment tax, 5.4 percent (0.054) on the first $7,000 for each employee. Federal unemployment tax, 0.6 percent (0.006) on the first $7,000 for each employee. Required: 1. Complete the payroll register. Payroll checks begin with Ck.…
Carla Vista Company has the following data for the weekly payroll ending May 31: Hours Worked Employee M Tu W Th F S HourlyRate CPPDeduction Income TaxWithheld HealthInsurance A. Kassam 12 7 8 7 7 5 $16 $35.48 $93.70 $8 H. Faas 9 9 8 8 8 6 11 24.98 72.15 15 G. Labute 12 9 6 10 10 0 16 36.66 108.65 12 Employees are paid 1.5 times the regular hourly rate for all hours worked over 40 hours per week. Carla Vista Company must make payments to the workers’ compensation plan equal to 2% of the gross payroll. In addition, Carla Vista matches the employees’ health insurance contributions and accrues vacation pay at a rate of 4%. Prepare the payroll register for the weekly payroll. Calculate each employee’s EI deduction at a rate of 1.66% of gross pay Record the payroll and Carla Vista Company’s employee benefits

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