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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	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	70

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, 20Y8. 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).
2.	Journalize the entry to record the payroll for the week. If required, round your answers to two decimal places. Refer to the Chart of Accounts for exact wording of account titles.

Chart of Accounts

CHART OF ACCOUNTS
Throwback Industries
General Ledger
ASSETS 110 Cash 111 Accounts Receivable 112 Interest Receivable 113 Notes Receivable 115 Merchandise Inventory 116 Supplies 118 Prepaid Insurance 120 Land 123 Building 124 Accumulated Depreciation-Building 125 Office Equipment 126 Accumulated Depreciation-Office Equipment LIABILITIES 210 Accounts Payable 213 Interest Payable 214 Notes Payable 215 Salaries Payable 216 Social Security Tax Payable 217 Medicare Tax Payable 218 Employees Federal Income Tax Payable 221 Retirement Savings Deductions Payable 224 Federal Unemployment Tax Payable 225 State Unemployment Tax Payable EQUITY 310 Owner, Capital 311 Owner, Drawing 312 Income Summary	REVENUE 410 Sales 610 Interest Revenue EXPENSES 510 Cost of Merchandise Sold 520 Office Salaries Expense 521 Sales Salaries Expense 524 Depreciation Expense-Building 525 Delivery Expense 526 Repairs Expense 529 Selling Expenses 531 Rent Expense 532 Depreciation Expense-Office Equipment 533 Insurance Expense 534 Supplies Expense 535 Payroll Tax Expense 538 Cash Short and Over 539 Product Warranty Expense 540 Miscellaneous Expense 710 Interest Expense

Payroll Register

Shaded cells have feedback.

1. Prepare a payroll register for Throwback Industries Inc. for the week ended December 9, 20Y8. 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: 209/315

Payroll for Week Ending December 9, 20Y8

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

Retirement Savings

Total

Net Pay

Ck. No.

Sales Salaries Expense

Office Salaries Expense

3

Aaron

43.00

?

?

?

?

?

$689.44

$105.00

#901

?

4

Cobb

43.00

?

?

?

?

539.92

115.00

#902

?

5

Clemente

45.00

?

?

?

?

?

668.44

125.00

#903

?

6

DiMaggio

39.00

?

?

?

?

377.80

#904

7

Griffey, Jr.

48.00

?

?

?

?

?

749.08

135.00

#905

?

8

Mantle

?

?

?

317.45

125.00

#906

?

9

Robinson

38.00

?

?

?

?

387.32

135.00

#907

?

10

Williams

?

?

?

426.24

130.00

#908

?

11

Vaughn

48.00

?

?

?

?

?

770.08

70.00

#909

?

12

?

?

$4,925.77

$940.00

Points:

49.76 / 75

Journal

Shaded cells have feedback.

2. Journalize the entry to record the payroll for the week. If required, round your answers to two decimal places. Refer to the Chart of Accounts for exact wording of account titles.

How does grading work?

PAGE 1

JOURNAL

ACCOUNTING EQUATION

Score: 77/85

	DATE	DESCRIPTION	POST. REF.	DEBIT	CREDIT	ASSETS	LIABILITIES	EQUITY
1	?	?		?
2		?		?
3		?
4		?
5		?
6		?			?
7		?

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