Question

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.

Answer 1

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)