Instructions Payroll Register and Payroll Entry General Jour

Instructions Payroll Register and Payroll Entry General Journal Instructions ayroll Register and Payroll Journal Entry ? Prepare a payroll register for Mary\'s Luxury Travel for the week ended March 22, 20 in the Taxable Earnings Unemployment Co pensation column enter the same amounts as in the Social Security column.) Total the amount columns. Round your answers to the nearest cent. 2. Assuming that the wages for the week ended March 22 were paid on March 24, prepare the journal entry for the payment of the payroll. When required, enter amounts in dollars and cents. If an amount box does not require an entry, leave it blank. ary Losch operates a travel agency called Mary\'s Luxury Travel. She has five employees, all of whom are paid on a weekly basis. The travel agency uses a ayroll register, individual employee earnings records, and a general journal. Mary\'s Luxury Travel uses a weekly federal income tax withholding table. Refer to Figure 8.4 in the text. The payroll data for each employee for the week ended March 22, 20-, are given below. Employees are paid 1\'% times the regular rate for working over 40 hours a week Total Earnings Name Allowances Status Worked Mar. 16-22 Rate Jan. 1-Mar. 15 $5.520 5,740 4,940 5, 122.5 No. of MaritalTotal Hours Bacon, Andrea Cole, Andrew Hicks, Melvin Leung, Cara 46 40 45 35 $12 12 10.5

Solution

PAYROLL REGISTER - WEEK ENDED MAR 22, 20__ Name Employee No. Allowances Marital status Earnings Taxable Earnings Deductions Net pay Check No. Regular Overtime Total Cumulative Total Unemployment Compensation Social Security Federal Income Tax Social Security Tax Medicare Tax City Tax Health Insurance Credit Union Other Total 1 Bacon, Andrea 1 4 M 480 108 588 6108 588 588 11      36.46         8.53        5.88 13 22      96.86       491.14 423 2 Cole, Andrew 2 1 S 480 480 6220 480 480 46      29.76         6.96        4.80 4 38.25    129.77       350.23 424 3 Hicks,Melvin 3 3 M 420 78.75 498.75 5438.75 498.75 498.75 10      30.92         7.23        4.99 4 17.75      74.89       423.86 425 4 Leung, cara 4 1 S 385 385 5507.5 385 385 31      23.87         5.58        3.85 13 22      99.30       285.70 426 5 Melling, Melissa 5 2 M 420 420 5125 420 420 11      26.04         6.09        4.20      47.33       372.67 427 2185 186.75 2371.75 28399.25 2371.75 2371.75 109    147.05      34.39      23.72 34 44 56    448.16    1,923.59 Note - I have available 2015 withholding rates, and that is used in federal income tax, please look the effect of this might change your answer. Date Description Debit Credit Mar 24, 20__ Wages and Salaries Expense $   2,371.75 Employee Federal Income Tax Payable $                109.00 Social Security Tax Payable $                147.05 Medicare Tax Payable $                  34.39 City Earnings Tax Payable $                  23.72 Health Insurance Premiums Payable $                  34.00 Credit Union Payable $                  44.00 U.S. savings bonds payable $                  56.00 Cash $            1,923.59 Payroll for Week ended Mar. 22