Question

In: Accounting

Payroll Register The following data for Throwback Industries, Inc. relate to the payroll for the week...

Payroll Register The following data for Throwback Industries, Inc. relate to the payroll for the week ended December 9: Hours Hourly Weekly Federal U.S. Savings Employee Worked Rate Salary Income Tax Bonds Blanda 42 $30 $296.70 $90 Dawson 46 42 442.47 105 Fouts 43 26 219.83 105 Griese 34 40 285.6 80 Namath 48 38 414.96 45 Marino $2,030 487.20 85 Staubach 38 34 193.80 95 Starr 2,270 499.40 95 Unitas 45 46 437.00 80 Employees Marino and Starr 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%, and Medicare tax is 1.5% of each employee's annual earnings. The next payroll check to be used is No. 625. Required: 1. Prepare a payroll summary for Throwback Industries, Inc. for the week ended December 9. Assume the normal working hours in a week are 40 hours. Enter amounts as positive numbers. Round your intermediate calculations and final answers to the nearest whole cent (two decimal places). Payroll for Week Ending December 9 Earnings Deductions Paid Accounts Debited Name Total Hours Regular Overtime Total Social Security Tax Medicare Tax Federal Income Tax U.S. Savings Bonds Total Net Pay Ck No. Sales Salaries Expense Office Salaries Expense Blanda 42 $ $ $ $ $ $296.70 $90 $ $ 625 $ Dawson 46 442.47 105 626 Fouts 43 219.83 105 627 Griese 34 285.60 80 628 Namath 48 414.96 45 629 Marino 487.20 85 630 $ Staubach 38 193.80 95 631 Starr 499.40 95 632 Unitas 45 437.00 80 633 Totals $ $ $ $ $ $ $ $ $ $ $ 2. Journalize the entry to record the payroll for the week. If required, round your answers to two decimal places. If an amount box does not require an entry, leave it blank.

Solutions

Expert Solution

ans a Deductions Deductions Deductions
Payroll register C S M F U D
Employee Total hours T Hourly Rate H Weekly Salary Earning Regular 40*H earnings Overtime (T-40)*H*1.5 Total earning C social security taxes C*6% Medicare taxes C*1.5% Federal Income Tax U.S. Savings Bonds Total deduction D=S+M+F+U Net Pay C-D
Blanda 42 $30.00 $1,200.00 $90.00 $1,290.00 $77.40 $19.35 $296.70 $90 $483.45 $806.55
dawson 46 42 $1,680.00 $378.00 $2,058.00 $123.48 $30.87 442.47 105 $701.82 $1,356.18
Fouts 43 26 $1,040.00 $117.00 $1,157.00 $69.42 $17.36 219.83 105 $411.61 $745.40
Griese 34 40 $1,600.00 $1,600.00 $96.00 $24.00 285.6 80 $485.60 $1,114.40
namath 48 38 $1,520.00 $456.00 $1,976.00 $118.56 $29.64 414.96 45 $608.16 $1,367.84
Marino $2,030 $2,030 $2,030.00 $121.80 $30.45 487.2 85 $724.45 $1,305.55
Staubach 38 34 $1,360.00 $1,360.00 $81.60 $20.40 193.8 95 $390.80 $969.20
Starr 2,270 $2,270 $2,270.00 $136.20 $34.05 499.4 95 $764.65 $1,505.35
Unitas 45 46 $1,840.00 $345.00 $2,185.00 $131.10 $32.78 437 80 $680.88 $1,504.13
Total $14,540.00 $1,386.00 $15,926.00 $955.56 $238.89 $3,276.96 $780.00 $5,251.41 $10,674.59
ans b
Accounts title Dr Cr
Sales salaries expenses (15926-4300) $11,626.00
Office salaries expenses (2030+2270) 4300
Social Security taxes payable $955.56
Medicare taxes payable $238.89
Federal Income taxes payable $3,276.96
US saving Bonds Payable $780.00
Salaries Payable $10,674.59
(being payroll recorded)

Related Solutions

Payroll Register The following data for Throwback Industries, Inc. relate to the payroll for the week...
Payroll Register The following data for Throwback Industries, Inc. relate to the payroll for the week ended December 9, 20Y8: Hours Hourly Weekly Federal Retirements Employee Worked Rate Salary Income Tax Savings Aaron 46 $30 $338.10 $75 Cobb 41 42 374.75 40 Clemente 43 26 219.83 100 DiMaggio 36 40 302.4 90 Griffey, Jr. 48 38 414.96 50 Mantle $2,280 547.20 65 Robinson 35 34 178.50 40 Williams 2,550 561.00 65 Vaughn 44 46 423.20 40 Employees Mantle and Williams...
Payroll Register The following data for Throwback Industries Inc. relate to the payroll for the week...
Payroll Register The following data for Throwback Industries Inc. relate to the payroll for the week ended December 9, 20Y8: Hours Hourly Weekly Federal Retirements Employee Worked Rate Salary Income Tax Savings Aaron 45 $46 $502.55 $105 Cobb 42 32 295.84 45 Clemente 41 24 189.24 90 DiMaggio 37 34 264.18 85 Griffey, Jr. 44 42 405.72 40 Mantle $2,280 547.20 75 Robinson 35 36 189.00 35 Williams 2,550 561.00 80 Vaughn 48 28 291.20 35 Employees Mantle and Williams...
Payroll Register The following data for Throwback Industries Inc. relate to the payroll for the week...
Payroll Register The following data for Throwback Industries Inc. relate to the payroll for the week ended December 9, 20Y8: Hours Hourly Weekly Federal Retirements Employee Worked Rate Salary Income Tax Savings Aaron 43 $26 $266.11 $40 Cobb 48 44 491.92 40 Clemente 45 34 306.85 50 DiMaggio 35 28 205.8 55 Griffey, Jr. 41 42 366.03 90 Mantle $2,040 489.60 70 Robinson 36 30 162.00 110 Williams 2,280 501.60 70 Vaughn 44 40 368.00 95 Employees Mantle and Williams...
Payroll Register The following data for Throwback Industries Inc. relate to the payroll for the week...
Payroll Register The following data for Throwback Industries Inc. relate to the payroll for the week ended December 9, 20Y8: Hours Hourly Weekly Federal Retirements Employee Worked Rate Salary Income Tax Savings Aaron 43 $26 $266.11 $105 Cobb 48 44 491.92 100 Clemente 45 34 306.85 90 DiMaggio 37 28 217.56 80 Griffey, Jr. 41 42 366.03 70 Mantle $2,290 549.60 65 Robinson 35 30 157.50 85 Williams 2,560 563.20 90 Vaughn 44 40 368.00 90 Employees Mantle and Williams...
The following data for Throwback Industries Inc. relate to the payroll for the week ended December...
The following data for Throwback Industries Inc. relate to the payroll for the week ended December 9, 20Y8: Employee Hours Worked Hourly Rate Weekly Salary Federal Income Tax Retirement Savings Aaron 45 $62 $641.84 $115 Cobb 42 67 623.92 125 Clemente 49 68 835.88 135 DiMaggio 38 54 376.68 0 Griffey, Jr. 46 63 681.60 145 Mantle $1,600 292.45 135 Robinson 38 56 418.40 145 Williams 1,900 370.24 140 Vaughn 46 63 702.60 40 Employees Mantle and Williams are office...
The following data for Throwback Industries Inc. relate to the payroll for the week ended December...
The following data for Throwback Industries Inc. relate to the payroll for the week ended December 9, 2016: Employee Hours Worked Hourly Rate Weekly Salary Federal Income Tax U.S. Savings Bonds Aaron 43 $70 $689.44 $130 Cobb 43 58 539.92 140 Clemente 45 64 668.44 150 DiMaggio 39 52 377.80 0 Griffey, Jr. 48 64 749.08 160 Mantle $1,700 317.45 150 Robinson 38 53 387.32 160 Williams 2,100 426.24 155 Vaughn 48 64 770.08 70 Employees Mantle and Williams are...
The following data for Throwback Industries Inc. relate to the payroll for the week ended December...
The following data for Throwback Industries Inc. relate to the payroll for the week ended December 9. Employee Hours Worked Hourly Rate Weekly Salary Federal Income Tax U.S. Savings Bonds Aaron 46 $68 $750.20 $130 Cobb 41 62 537.68 140 Clemente 48 70 836.44 150 DiMaggio 35 56 366.04 0 Griffey, Jr. 45 62 641.84 160 Mantle $1,800 342.45 150 Robinson 36 54 382.56 160 Williams 2,000 398.24 155 Vaughn 42 62 584.72 80 Employees Mantle and Williams are office...
The following data for Throwback Industries Inc. relate to the payroll for the week ended December...
The following data for Throwback Industries Inc. relate to the payroll for the week ended December 9. Employee Hours Worked Hourly Rate Weekly Salary Federal Income Tax U.S. Savings Bonds Aaron 45 $62 $641.84 $135 Cobb 42 67 623.92 145 Clemente 49 68 835.88 155 DiMaggio 38 54 376.68 0 Griffey, Jr. 46 63 681.60 165 Mantle $1,600 292.45 155 Robinson 38 56 418.40 165 Williams 1,900 370.24 160 Vaughn 46 63 702.60 40 Employees Mantle and Williams are office...
The following data for Throwback Industries Inc. relate to the payroll for the week ended December...
The following data for Throwback Industries Inc. relate to the payroll for the week ended December 9, 2016: Employee Hours Worked Hourly Rate Weekly Salary Federal Income Tax U.S. Savings Bonds Aaron 43 $70 $689.44 $120 Cobb 43 58 539.92 130 Clemente 45 64 668.44 140 DiMaggio 39 52 377.80 0 Griffey, Jr. 48 64 749.08 150 Mantle $1,700 317.45 140 Robinson 38 53 387.32 150 Williams 2,100 426.24 145 Vaughn 48 64 770.08 60 Employees Mantle and Williams are...
The following data for Throwback Industries Inc. relate to the payroll for the week ended December...
The following data for Throwback Industries Inc. relate to the payroll for the week ended December 9, 2016: Employee Hours Worked Hourly Rate Weekly Salary Federal Income Tax U.S. Savings Bonds Aaron 43 $70 $689.44 $105 Cobb 43 58 539.92 115 Clemente 45 64 668.44 125 DiMaggio 39 52 377.80 0 Griffey, Jr. 48 64 749.08 135 Mantle $1,700 317.45 125 Robinson 38 53 387.32 135 Williams 2,100 426.24 130 Vaughn 48 64 770.08 80 Employees Mantle and Williams are...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT