Employee Aaron Cobb Clemente DiMaggio Griffey, Jr. Mantle Robinson Williams Hours Worked 46 41 48 35 45 36 Hourly Rate $68.00 62.00 70.00 56.00 62.00 54.00 Weekly Salary $1,800 2,000 Federal Income Tax $750.20 537.68 832.64 366.04 641.84 342.45 382.56 398.24 773 U.S.Savings Bonds $100 110 120 0 130 120 130 125 50
Employee Aaron Cobb Clemente DiMaggio Griffey, Jr. Mantle Robinson Williams Hours Worked 46 41 48 35 45 36 Hourly Rate $68.00 62.00 70.00 56.00 62.00 54.00 Weekly Salary $1,800 2,000 Federal Income Tax $750.20 537.68 832.64 366.04 641.84 342.45 382.56 398.24 773 U.S.Savings Bonds $100 110 120 0 130 120 130 125 50
Financial And Managerial Accounting
15th Edition
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:WARREN, Carl S.
Chapter10: Liabilities: Current, Installment Notes, And Contingencies
Section: Chapter Questions
Problem 4PA
Related questions
Question
![PR 10-4A Payroll summary
The following data for Throwback Industries Inc. relate to the payroll for the week ended December 9.
Employee
Aaron
Cobb
Clemente
DiMaggio
Griffey, Jr.
Mantle
Robinson
Williams
Vaughn
Hours
Worked
46
41
48
35
45
36
42
Hourly
Rate
$68.00
62.00
70.00
56.00
62.00
54.00
62.00
Weekly
Salary
$1,800
2,000
Federal
Income Tax
$750.20
537.68
832.64
366.04
641.84
342.45
382.56
398.24
584.72
U.S.Savings
Bonds
$100
110
120
0
130
120
130
125
50
Employees Mantle and Williams are office staff, and all of the other employees are sales personnel.
All sales personnel are paid 1½ 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 employee's annual
earnings. The next payroll check to be used is No. 901.
Instructions
1. Prepare a payroll summary for Throwback Industries Inc. for the week ended December 9.
Use the following columns: Employee, Total Hours, Regular Earnings, Overtime Earnings, To-
tal Earnings, Social Security Tax, Medicare Tax, Federal Income Tax, U.S. Savings Bonds, Total
Deductions, Net Pay, Ck. No., Sales Salaries Expense, and Office Salaries Expense.
2. Journalize the entry to record the payroll for the week.
Obj. 2, 3
Co on](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F31dafadd-9dd5-402b-951e-769b2eb755a1%2F25a0023b-2017-45e9-9e79-8acac4cd1ff1%2F5nvtid_processed.jpeg&w=3840&q=75)
Transcribed Image Text:PR 10-4A Payroll summary
The following data for Throwback Industries Inc. relate to the payroll for the week ended December 9.
Employee
Aaron
Cobb
Clemente
DiMaggio
Griffey, Jr.
Mantle
Robinson
Williams
Vaughn
Hours
Worked
46
41
48
35
45
36
42
Hourly
Rate
$68.00
62.00
70.00
56.00
62.00
54.00
62.00
Weekly
Salary
$1,800
2,000
Federal
Income Tax
$750.20
537.68
832.64
366.04
641.84
342.45
382.56
398.24
584.72
U.S.Savings
Bonds
$100
110
120
0
130
120
130
125
50
Employees Mantle and Williams are office staff, and all of the other employees are sales personnel.
All sales personnel are paid 1½ 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 employee's annual
earnings. The next payroll check to be used is No. 901.
Instructions
1. Prepare a payroll summary for Throwback Industries Inc. for the week ended December 9.
Use the following columns: Employee, Total Hours, Regular Earnings, Overtime Earnings, To-
tal Earnings, Social Security Tax, Medicare Tax, Federal Income Tax, U.S. Savings Bonds, Total
Deductions, Net Pay, Ck. No., Sales Salaries Expense, and Office Salaries Expense.
2. Journalize the entry to record the payroll for the week.
Obj. 2, 3
Co on
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