I need assistance finishing please. The following data for Throwback Industries Inc. relate to the...
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Accounting
I need assistance finishing please.
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
46
$68
$750.20
$140
Cobb
41
62
537.68
150
Clemente
48
70
836.44
160
DiMaggio
35
56
366.04
0
Griffey, Jr.
45
62
641.84
170
Mantle
$1,800
342.45
160
Robinson
36
54
382.56
170
Williams
2,000
398.24
165
Vaughn
42
62
584.72
40
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 6.0%, and Medicare tax is 1.5% of each employees 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, 2016. Assume the normal working hours in a week are 40 hours. Enter amounts as positive numbers and round your intermediate calculations and final answers to the nearest whole cent (two decimal places).
1. Prepare a payroll register for Throwback Industries Inc. for the week ended December 9, 2016. Assume the normal working hours in a week are 40 hours. Enter amounts as positive numbers and round your intermediate calculations and final answers to the nearest whole cent (two decimal places).
Score: 25/315
Payroll for Week Ending December 9, 2016
1
Earnings
Earnings
Earnings
Deductions
Deductions
Deductions
Deductions
Deductions
Paid
Paid
Account Debited
Account Debited
2
Employee
Total Hours
Regular
Overtime
Total
Social Security Tax
Medicare Tax
Federal Income Tax
U.S. Savings Bond
Total
Net Pay
Ck. No.
Sales Salaries Expense
Office Salaries Expense
3
Aaron
46.00
$750.20
$140.00
#901
4
Cobb
41.00
537.68
150.00
#902
5
Clemente
48.00
836.44
160.00
#903
6
DiMaggio
35.00
366.04
#904
7
Griffey, Jr.
45.00
641.84
170.00
#905
8
Mantle
342.45
160.00
#906
9
Robinson
36.00
382.56
170.00
#907
10
Williams
398.24
165.00
#908
11
Vaughn
42.00
584.72
40.00
#909
12
$4,840.17
$1,155.00
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