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emimonthly period ended: August 31, 20xx Marital Status M M S M Empl. No. Name 145 Brown, Bill 157 Hanifan, Ted 149 Jones, Beth 134 Lowe, Judy No. of Allowances 2 2 4 2 Regular 1,344.00 1,058.00 1,074.00 1,486.00 B and C Sporting Goods Payroll Register Federal Social Total Income Tax Security Tax 134.00 107.14 93.00 68.60 71.80 90.00 165.00 98.83 …… Overtime 384.00 1,728.00 48.50 1,106.50 84.00 1,158.00 108.00 1,594.00 Medicare Tax 25.06 16.04 16.79 23.11 Health Insurance 86.40 60.00 90.00 60.00 Retirement Plan 172.80 25.00 20.00 50.00 Date of payment: August 31, 20xx Total Net Pay Check No. 525.40 1,202.60 1145 262.65 843.85 1146 288.59 869.41 1147 396.94 1,197.06 1148

emimonthly period ended: August 31, 20xx Marital Status M M S M Empl. No. Name 145 Brown, Bill 157 Hanifan, Ted 149 Jones, Beth 134 Lowe, Judy No. of Allowances 2 2 4 2 Regular 1,344.00 1,058.00 1,074.00 1,486.00 B and C Sporting Goods Payroll Register Federal Social Total Income Tax Security Tax 134.00 107.14 93.00 68.60 71.80 90.00 165.00 98.83 …… Overtime 384.00 1,728.00 48.50 1,106.50 84.00 1,158.00 108.00 1,594.00 Medicare Tax 25.06 16.04 16.79 23.11 Health Insurance 86.40 60.00 90.00 60.00 Retirement Plan 172.80 25.00 20.00 50.00 Date of payment: August 31, 20xx Total Net Pay Check No. 525.40 1,202.60 1145 262.65 843.85 1146 288.59 869.41 1147 396.94 1,197.06 1148

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Prepare a payroll check using the information from the payroll register for Bill Brown for the pay period ending on August 31.

    1. Fill out the check stub using information from the payroll register.
    2. Prepare the check. Sign your name.  

Use name Yaira Hundley. Completed payroll register is attached.

**B and C Sporting Goods Payroll Register** **Semimonthly Period Ended:** August 31, 20xx **Date of Payment:** August 31, 20xx | Empl. No. | Name | Marital Status | No. of Allowances | Regular | Overtime | Total | Federal Income Tax | Social Security Tax | Medicare Tax | Health Insurance | Retirement Plan | Total Deductions | Net Pay | Check No. | |-----------|---------------|----------------|-------------------|----------|----------|--------|--------------------|---------------------|--------------|-----------------|-----------------|-----------------|---------|-----------| | 145 | Brown, Bill | M | 2 | 1,344.00 | 384.00 | 1,728.00 | 134.00 | 107.14 | 25.06 | 86.40 | 172.80 | 525.40 | 1,202.60 | 1145 | | 157 | Hanifan, Ted | M | 2 | 1,058.00 | 48.50 | 1,106.50 | 93.00 | 68.60 | 16.04 | 60.00 | 25.00 | 262.65 | 843.85 | 1146 | | 149 | Jones, Beth | S | 4 | 1,074.00 | 84.00 | 1,158.00 | 90.00 | 71.80 | 16.79 | 90.00 | 20.00 | 288.59 | 869.41 | 1147 | | 134 | Lowe, Judy | M | 2 | 1,486.00 | 108.00 | 1,594.00 | 165.00 | 98.83 | 23.11 | 60.00 | 50.00 | 396.94 | 1,197.06 | 1148 | | **Totals**| | | | 4,962.00 | 624.50 | 5,586.
Transcribed Image Text:**B and C Sporting Goods Payroll Register** **Semimonthly Period Ended:** August 31, 20xx **Date of Payment:** August 31, 20xx | Empl. No. | Name | Marital Status | No. of Allowances | Regular | Overtime | Total | Federal Income Tax | Social Security Tax | Medicare Tax | Health Insurance | Retirement Plan | Total Deductions | Net Pay | Check No. | |-----------|---------------|----------------|-------------------|----------|----------|--------|--------------------|---------------------|--------------|-----------------|-----------------|-----------------|---------|-----------| | 145 | Brown, Bill | M | 2 | 1,344.00 | 384.00 | 1,728.00 | 134.00 | 107.14 | 25.06 | 86.40 | 172.80 | 525.40 | 1,202.60 | 1145 | | 157 | Hanifan, Ted | M | 2 | 1,058.00 | 48.50 | 1,106.50 | 93.00 | 68.60 | 16.04 | 60.00 | 25.00 | 262.65 | 843.85 | 1146 | | 149 | Jones, Beth | S | 4 | 1,074.00 | 84.00 | 1,158.00 | 90.00 | 71.80 | 16.79 | 90.00 | 20.00 | 288.59 | 869.41 | 1147 | | 134 | Lowe, Judy | M | 2 | 1,486.00 | 108.00 | 1,594.00 | 165.00 | 98.83 | 23.11 | 60.00 | 50.00 | 396.94 | 1,197.06 | 1148 | | **Totals**| | | | 4,962.00 | 624.50 | 5,586.
**Payroll Check Layout Explanation** In this payroll check example, we breakdown key sections: 1. **Period Ending**: The date when the pay period ends. 2. **Earnings**: - **Regular**: Regular hours worked and corresponding earnings. - **Overtime**: Overtime hours worked and earnings calculated at an overtime rate. 3. **Deductions**: Different categories where amounts might be subtracted from gross earnings. - **Income Tax**: Federal and state income tax deductions. - **SOC. SEC. TAX**: Social Security tax deductions. - **MED. TAX**: Medicare tax deductions. - **Health Ins.**: Deductions for health insurance. - **OTHER-Ret.**: Other deductions, possibly including retirement contributions. 4. **Net Pay**: The final amount after all deductions—what the employee takes home. 5. **Payroll Account Information**: Details for financial processing. - **Account Number**: In this case, "125008736311 23000023888291." 6. **Check Number (Ck. #)**: Specific check number for tracking and reference. This format ensures clarity for employees reviewing their pay details, ensuring transparency and understanding of their earnings and deductions.
Transcribed Image Text:**Payroll Check Layout Explanation** In this payroll check example, we breakdown key sections: 1. **Period Ending**: The date when the pay period ends. 2. **Earnings**: - **Regular**: Regular hours worked and corresponding earnings. - **Overtime**: Overtime hours worked and earnings calculated at an overtime rate. 3. **Deductions**: Different categories where amounts might be subtracted from gross earnings. - **Income Tax**: Federal and state income tax deductions. - **SOC. SEC. TAX**: Social Security tax deductions. - **MED. TAX**: Medicare tax deductions. - **Health Ins.**: Deductions for health insurance. - **OTHER-Ret.**: Other deductions, possibly including retirement contributions. 4. **Net Pay**: The final amount after all deductions—what the employee takes home. 5. **Payroll Account Information**: Details for financial processing. - **Account Number**: In this case, "125008736311 23000023888291." 6. **Check Number (Ck. #)**: Specific check number for tracking and reference. This format ensures clarity for employees reviewing their pay details, ensuring transparency and understanding of their earnings and deductions.
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