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- In the space provided below, prepare the journal entry to record the November payroll for all employees assuming that the payroll is paid on November 30 and that Joness cumulative gross pay (cell I13) is 85,000.A weekly payroll summary made from labor time records shows the following data for Pima Company: Overtime is payable at one-and-a-half times the regular rate of pay and is distributed to all jobs worked on during the period. a. Determine the net pay of each employee. The income taxes withheld for each employee amount to 15% of the gross wages. b. Prepare journal entries for the following: 1. Recording the payroll. 2. Paying the payroll. 3. Distributing the payroll. (Assume that the overtime premium will be charged to all jobs worked on during the period.) 4. The employers payroll taxes. (Assume that none of the employees has achieved the maximum wage bases for FICA and unemployment taxes.)Adams, Inc., pays its employees weekly wages in cash. A supplementary payroll sheet that lists the employees names and their earnings for a certain week is shown below. Complete the payroll sheet by calculating the total amount of payroll and indicating the least possible number of denominations that can be used in paying each employee. However, no employees are to be given bills in denominations greater than 20.
- Complete the FWT column (wage-bracket method) and SWT column of the payroll register using the employee data listed below. The associated pay period ends on 09/05/2021 (enter the year using four digits), with paychecks being printed and distributed six days later. Every employee earns hourly overtime wages 1.5 times greater than their regular wage rate. Enter all employees' names in the format Last Name, First Initial (for example: Rick Smith would be written as Smith, R). The state income tax withholding rate is 5.0% of taxable pay, with taxable pay being the same for federal and state income tax withholding. Note that the Voluntary Withholding column, for which partial information is provided below, has been populated based on the partial information shown here. Luisa Williams earns $7.50/hour, and worked 44 hours during the most recent week. She makes a 401(k) retirement plan contribution of 14% of gross pay each period. Luisa Williams is single, and claims one withholding…Complete the top portion and earnings section of a payroll register for the five employees below. The associated pay period ends on 9/5/2021, with paychecks being printed and distributed six days later. 1. Luisa Williams earns $7.50/hour and worked 44 hours during the most recent week. 2. Jonathan Olsen earns $9.10/hour and worked 47 hours during the most recent week. 3. Nathan Upton earns $11.80/hour and worked 42 hours during the most recent week. 4. Juan Rodriguez earns $14/hour and worked 48 hours during the most recent week. 5. Drew Painter earns $16.60/hour and worked 51 hours during the most recent week. Notes: • Enter all employees' names in the format Last Name, First Initial (for example: Rick Smith would be written as Smith, R). • For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation. Open Directions in Popup Window Pay Period Pay Date Employee Name Williams, L Olsen, J Upton, N…Assume that you are working with a payroll application that produces weekly paychecks, including paystubs. Listed below are 20 data elements that would appear on the paycheck/paystub. For each numbered item, indicate the immediate (versus ultimate) source of the item. For instance, the immediate source of the number of exemptions for an employee would be the employee master data, as opposed to the ultimate source, which is the W-4 form filed by the employee. Some items may have more than one source, as in the case of item 1. You have the following choices: Arrange your answer as follows: The items to be considered are as follows:
- The payroll records of Brownlee Company provided the following information for the weekly pay period ended March 23, 2021: Required: 1. Enter the relevant information in the proper columns of a payroll register and complete the register, calculate CPP and El deductions. Charge the wages of Kathy Sousa to Office Wages Expense and the wages of the remaining employees to Service Wages Expense. Calculate Income tax deductions at 20% of gross pay. Employees are paid an overtime premium of 50% for all hours in excess of 40 per week. (Round your intermediate calculations and final answers to 2 decimal places.) Payroll Week Ended March 23, 2021 Employees Ray Loran Kathy Sousa Gary Smith Nicole Parton Diana Wood 1 2 3 4 5 Employment Insurance 0.00 Employee No. View transaction list CPP MTWT 11 8 12 0000 O 0.00 7 13 8 14 8 15 0 Daily Time 00 00 00 00 00000 8 8 6 Income Tax Journal entry worksheet 2 LL 8 7 8 8 8 8 8 6 6 0.00 F S S 4 4 SOO || 0 To 0 4 4 0 0 8 8 Hospital Insurance Total Hours 40.00…The payroll records of Brownlee Company provided the following information for the weekly pay period ended March 23, 2018:Required:1. Enter the relevant information in the proper columns of a payroll register and complete the register; calculate CPP and EI deductions. Charge the wages of Kathy Sousa to Office Wages Expense and the wages of the remaining employees to Service Wages Expense. Calculate income tax deductions at 20% of gross pay. Employees are paid an overtime premium of 50% for all hours in excess of 40 per week. Payroll Week Ended March 23, 2018 (Q1 Posted earlier, just provided info) 2. Prepare General Journal entries to record the payroll register information, including the employer’s expenses Record the journal: 1. Record the payroll register for the pay period ending March 23. 2. Record the payroll taxes.The payroll records of Brownlee Company provided the following information for the weekly pay period ended March 23, 2018:1. Enter the relevant information in the proper columns of a payroll register and complete the register; calculate CPP and EI deductions. Charge the wages of Kathy Sousa to Office Wages Expense and the wages of the remaining employees to Service Wages Expense. Calculate income tax deductions at 20% of gross pay. Employees are paid an overtime premium of 50% for all hours in excess of 40 per week Payroll Week Ended March 23, 2018 (Image inserted) 2. Prepare General Journal entries to record the payroll register information, including the employer’s expenses. Calculate: 1.Record the payroll register for the pay period ending March 23. 2.Record the payroll taxes.
- Stark Company has five employees. Employees paid by the hour earn $14 per hour for the regular 40-hour workweek and $21 per hour beyond the 40 hours per week. Hourly employees are paid every two weeks, but salaried employees are paid monthly on the last biweekly payday of each month. FICA Social Security taxes are 6.2% of the first $137,700 paid to each employee, and FICA Medicare taxes are 1.45% of gross pay. FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to each employee. The company has a benefits plan that includes medical insurance, life insurance, and retirement funding for employees. Under this plan, employees must contribute 5% of their gross income as a payroll withholding, which the company matches with double the amount. Following is the partially completed payroll register for the biweekly period ending August 31, which is the last payday of August. a. Complete this payroll register by filling in all cells for the pay period ended August 31. Prepare…An employee has a net payroll amount of $5,064.50. What is the correct journal entry to record this payment on payday?Lauprechta Incorporated has the following employees on payroll. Assume that all the employees has only one job or that step 2 of Form W-4 is not checked and all dependents are under the age of 17. Also, the employer uses the Percentage Method Tables for Manual Payroll Systems with Forms W-4 from 2020 or Later. Use percentage method tables for a manual payroll systems. Number of Dependents from Form W-4 Semimonthly Payroll $ 6,400 $ 5,120 Marital Status Married 3 Naila Wilfred 2 Married $ 3,720 0 Byron Annie Single $ 4,320 1 Single Required: Complete the table for taxes to be withheld for each pay period. Note: Round your intermediate computations and final answers to 2 decimal places. Employee Federal Withholding Tax Social Security Tax Medicare Tax Total Taxes Withheld Naila Wilfred Byron Annie