The following data for Throwback Industries Inc. relate to the payroll for the week ended...
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Accounting
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
$105
Cobb
42
67
623.92
115
Clemente
49
68
835.88
125
DiMaggio
38
54
376.68
0
Griffey, Jr.
46
63
681.60
135
Mantle
$1,600
292.45
125
Robinson
38
56
418.40
135
Williams
1,900
370.24
130
Vaughn
46
63
702.60
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, 20Y8. Assume the normal working hours in a week are 40 hours. Enter amounts as positive numbers. Round your intermediate calculations and final answers to two decimal places.
2.
Journalize the entry to record the payroll for the week. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. If required, round your answers to two decimal places.
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. Round your intermediate calculations and final answers to two decimal places.
Score: 177/306
Payroll for Week Ending December 9, 20Y8
1
Earnings
Earnings
Earnings
Deductions Withheld
Deductions Withheld
Deductions Withheld
Deductions Withheld
Deductions Withheld
Paid
Paid
Accounts Debited
Accounts 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
45.00
$641.84
$105.00
901.00
4
Cobb
42.00
623.92
115.00
902.00
5
Clemente
49.00
835.88
125.00
903.00
6
DiMaggio
38.00
376.68
904.00
7
Griffey, Jr.
46.00
681.60
135.00
905.00
8
Mantle
292.45
125.00
906.00
9
Robinson
38.00
418.40
135.00
907.00
10
Williams
370.24
130.00
908.00
11
Vaughn
46.00
702.60
40.00
909.00
12
Totals
$4,943.61
$910.00
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