Highridge Homes has the following payroll information for the week ended February 21: Name Earnings at End of Previous Week Daily Time Pay Rate Federal Income Tax S M T W T F S Arthur, P. 7,800.00     8 8 8 8 8     45.00 226.78 Bills, D. 2,060.00         8 8 8 8 8 12.50 26.00 Carney, W. 2,085.00     8 8 8     8 8 12.95 27.00 Dorn, J. 748.00           8 8     22.00 11.00 Edgar, L. 2,687.00     8 8 8     8 8 15.00 37.00 Fitzwilson, G. 4,150.00     8 8   8 8 8 8 23.00 125.00 Taxable earnings for Social Security are based on the first $118,500. Taxable earnings for Medicare are based on all earnings. Taxable earnings for federal and state unemployment are based on the first $7,000. Employees are paid time-and-a-half for work in excess of 40 hours per week. Question Content Area Required: 1. Complete the payroll register. The Social Security tax rate is 6.2 percent, and the Medicare tax rate is 1.45 percent. Begin payroll checks with No. 2080. If required, round your intermediate calculations and the final answers to the nearest cent and use the rounded answers in subsequent computations. If an amount is zero, enter "0". HIGHRIDGE HOMES PAYROLL REGISTER FOR WEEK ENDED February 21, 20-- NAME TOTAL HOURS BEGINNING CUMULATIVE EARNINGS EARNINGS ENDING CUMULATIVE EARNINGS TAXABLE EARNINGS DEDUCTIONS PAYMENTS REGULAR OVERTIME TOTAL UNEMPLOYMENT SOCIAL SECURITY MEDICARE FEDERAL INCOME TAX SOCIAL SECURITY TAX MEDICARE TAX TOTAL NET AMOUNT CK. NO. Arthur, P. fill in the blank  $fill in the blank  $fill in the blank  $fill in the blank  $fill in the blank  $fill in the blank 8f50a7068fe6ffb_6 $fill in the blank 8f50a7068fe6ffb_7 $fill in the blank 8f50a7068fe6ffb_8 $fill in the blank 8f50a7068fe6ffb_9 $fill in the blank 8f50a7068fe6ffb_10 $fill in the blank 8f50a7068fe6ffb_11 $fill in the blank 8f50a7068fe6ffb_12 $fill in the blank 8f50a7068fe6ffb_13 $fill in the blank 8f50a7068fe6ffb_14 fill in the blank 8f50a7068fe6ffb_15 Bills, D. fill in the blank  $fill in the blank  $fill in the blank  $fill in the blank  $fill in the blank  $fill in the blank 8f50a7068fe6ffb_21 $fill in the blank 8f50a7068fe6ffb_22 $fill in the blank 8f50a7068fe6ffb_23 $fill in the blank 8f50a7068fe6ffb_24 $fill in the blank 8f50a7068fe6ffb_25 $fill in the blank 8f50a7068fe6ffb_26 $fill in the blank 8f50a7068fe6ffb_27 $fill in the blank 8f50a7068fe6ffb_28 $fill in the blank 8f50a7068fe6ffb_29 fill in the blank 8f50a7068fe6ffb_30 Carney, W. fill in the blank 8f50a7068fe6ffb_31 $fill in the blank  $fill in the blank  $fill in the blank  $fill in the blank 8f50a7068fe6ffb_35 $fill in the blank 8f50a7068fe6ffb_36 $fill in the blank 8f50a7068fe6ffb_37 $fill in the blank 8f50a7068fe6ffb_38 $fill in the blank 8f50a7068fe6ffb_39 $fill in the blank 8f50a7068fe6ffb_40 $fill in the blank 8f50a7068fe6ffb_41 $fill in the blank 8f50a7068fe6ffb_42 $fill in the blank 8f50a7068fe6ffb_43 $fill in the blank 8f50a7068fe6ffb_44 fill in the blank 8f50a7068fe6ffb_45 Dorn, J. fill in the blank 8f50a7068fe6ffb_46 $fill in the blank 8f50a7068fe6ffb_47 $fill in the blank 8f50a7068fe6ffb_48 $fill in the blank 8f50a7068fe6ffb_49 $fill in the blank 8f50a7068fe6ffb_50 $fill in the blank 8f50a7068fe6ffb_51 $fill in the blank 8f50a7068fe6ffb_52 $fill in the blank 8f50a7068fe6ffb_53 $fill in the blank 8f50a7068fe6ffb_54 $fill in the blank 8f50a7068fe6ffb_55 $fill in the blank 8f50a7068fe6ffb_56 $fill in the blank 8f50a7068fe6ffb_57 $fill in the blank 8f50a7068fe6ffb_58 $fill in the blank 8f50a7068fe6ffb_59 fill in the blank 8f50a7068fe6ffb_60 Edgar, L. fill in the blank 8f50a7068fe6ffb_61 $fill in the blank 8f50a7068fe6ffb_62 $fill in the blank 8f50a7068fe6ffb_63 $fill in the blank 8f50a7068fe6ffb_64 $fill in the blank 8f50a7068fe6ffb_65 $fill in the blank 8f50a7068fe6ffb_66 $fill in the blank 8f50a7068fe6ffb_67 $fill in the blank 8f50a7068fe6ffb_68 $fill in the blank 8f50a7068fe6ffb_69 $fill in the blank 8f50a7068fe6ffb_70 $fill in the blank 8f50a7068fe6ffb_71 $fill in the blank 8f50a7068fe6ffb_72 $fill in the blank 8f50a7068fe6ffb_73 $fill in the blank 8f50a7068fe6ffb_74 fill in the blank 8f50a7068fe6ffb_75 Fitzwilson, G. fill in the blank 8f50a7068fe6ffb_76 $fill in the blank 8f50a7068fe6ffb_77 $fill in the blank 8f50a7068fe6ffb_78 $fill in the blank 8f50a7068fe6ffb_79 $fill in the blank 8f50a7068fe6ffb_80 $fill in the blank 8f50a7068fe6ffb_81 $fill in the blank 8f50a7068fe6ffb_82 $fill in the blank 8f50a7068fe6ffb_83 $fill in the blank 8f50a7068fe6ffb_84 $fill in the blank 8f50a7068fe6ffb_85 $fill in the blank 8f50a7068fe6ffb_86 $fill in the blank 8f50a7068fe6ffb_87 $fill in the blank 8f50a7068fe6ffb_88 $fill in the blank 8f50a7068fe6ffb_89 fill in the blank 8f50a7068fe6ffb_90     $fill in the blank 8f50a7068fe6ffb_91 $fill in the blank 8f50a7068fe6ffb_92 $fill in the blank 8f50a7068fe6ffb_93 $fill in the blank 8f50a7068fe6ffb_94 $fill in the blank 8f50a7068fe6ffb_95 $fill in the blank 8f50a7068fe6ffb_96 $fill in the blank 8f50a7068fe6ffb_97 $fill in the blank 8f50a7068fe6ffb_98 $fill in the blank 8f50a7068fe6ffb_99 $fill in the blank 8f50a7068fe6ffb_100 $fill in the blank 8f50a7068fe6ffb_101 $fill in the blank 8f50a7068fe6ffb_102 $fill in the blank 8f50a7068fe6ffb_103   Question Content Area

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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Highridge Homes has the following payroll information for the week ended February 21:

Name Earnings at End of Previous Week Daily Time Pay Rate Federal Income Tax
S M T W T F S
Arthur, P. 7,800.00     8 8 8 8 8     45.00 226.78
Bills, D. 2,060.00         8 8 8 8 8 12.50 26.00
Carney, W. 2,085.00     8 8 8     8 8 12.95 27.00
Dorn, J. 748.00           8 8     22.00 11.00
Edgar, L. 2,687.00     8 8 8     8 8 15.00 37.00
Fitzwilson, G. 4,150.00     8 8   8 8 8 8 23.00 125.00

Taxable earnings for Social Security are based on the first $118,500. Taxable earnings for Medicare are based on all earnings. Taxable earnings for federal and state unemployment are based on the first $7,000. Employees are paid time-and-a-half for work in excess of 40 hours per week.

Question Content Area

Required:

1. Complete the payroll register. The Social Security tax rate is 6.2 percent, and the Medicare tax rate is 1.45 percent. Begin payroll checks with No. 2080. If required, round your intermediate calculations and the final answers to the nearest cent and use the rounded answers in subsequent computations. If an amount is zero, enter "0".

HIGHRIDGE HOMES
PAYROLL REGISTER FOR WEEK ENDED February 21, 20--



NAME


TOTAL
HOURS

BEGINNING
CUMULATIVE
EARNINGS
EARNINGS
ENDING
CUMULATIVE
EARNINGS
TAXABLE EARNINGS DEDUCTIONS PAYMENTS


REGULAR


OVERTIME


TOTAL


UNEMPLOYMENT

SOCIAL
SECURITY


MEDICARE
FEDERAL
INCOME
TAX
SOCIAL
SECURITY
TAX

MEDICARE
TAX


TOTAL

NET
AMOUNT

CK.
NO.
Arthur, P. fill in the blank  $fill in the blank  $fill in the blank  $fill in the blank  $fill in the blank  $fill in the blank 8f50a7068fe6ffb_6 $fill in the blank 8f50a7068fe6ffb_7 $fill in the blank 8f50a7068fe6ffb_8 $fill in the blank 8f50a7068fe6ffb_9 $fill in the blank 8f50a7068fe6ffb_10 $fill in the blank 8f50a7068fe6ffb_11 $fill in the blank 8f50a7068fe6ffb_12 $fill in the blank 8f50a7068fe6ffb_13 $fill in the blank 8f50a7068fe6ffb_14 fill in the blank 8f50a7068fe6ffb_15
Bills, D. fill in the blank  $fill in the blank  $fill in the blank  $fill in the blank  $fill in the blank  $fill in the blank 8f50a7068fe6ffb_21 $fill in the blank 8f50a7068fe6ffb_22 $fill in the blank 8f50a7068fe6ffb_23 $fill in the blank 8f50a7068fe6ffb_24 $fill in the blank 8f50a7068fe6ffb_25 $fill in the blank 8f50a7068fe6ffb_26 $fill in the blank 8f50a7068fe6ffb_27 $fill in the blank 8f50a7068fe6ffb_28 $fill in the blank 8f50a7068fe6ffb_29 fill in the blank 8f50a7068fe6ffb_30
Carney, W. fill in the blank 8f50a7068fe6ffb_31 $fill in the blank  $fill in the blank  $fill in the blank  $fill in the blank 8f50a7068fe6ffb_35 $fill in the blank 8f50a7068fe6ffb_36 $fill in the blank 8f50a7068fe6ffb_37 $fill in the blank 8f50a7068fe6ffb_38 $fill in the blank 8f50a7068fe6ffb_39 $fill in the blank 8f50a7068fe6ffb_40 $fill in the blank 8f50a7068fe6ffb_41 $fill in the blank 8f50a7068fe6ffb_42 $fill in the blank 8f50a7068fe6ffb_43 $fill in the blank 8f50a7068fe6ffb_44 fill in the blank 8f50a7068fe6ffb_45
Dorn, J. fill in the blank 8f50a7068fe6ffb_46 $fill in the blank 8f50a7068fe6ffb_47 $fill in the blank 8f50a7068fe6ffb_48 $fill in the blank 8f50a7068fe6ffb_49 $fill in the blank 8f50a7068fe6ffb_50 $fill in the blank 8f50a7068fe6ffb_51 $fill in the blank 8f50a7068fe6ffb_52 $fill in the blank 8f50a7068fe6ffb_53 $fill in the blank 8f50a7068fe6ffb_54 $fill in the blank 8f50a7068fe6ffb_55 $fill in the blank 8f50a7068fe6ffb_56 $fill in the blank 8f50a7068fe6ffb_57 $fill in the blank 8f50a7068fe6ffb_58 $fill in the blank 8f50a7068fe6ffb_59 fill in the blank 8f50a7068fe6ffb_60
Edgar, L. fill in the blank 8f50a7068fe6ffb_61 $fill in the blank 8f50a7068fe6ffb_62 $fill in the blank 8f50a7068fe6ffb_63 $fill in the blank 8f50a7068fe6ffb_64 $fill in the blank 8f50a7068fe6ffb_65 $fill in the blank 8f50a7068fe6ffb_66 $fill in the blank 8f50a7068fe6ffb_67 $fill in the blank 8f50a7068fe6ffb_68 $fill in the blank 8f50a7068fe6ffb_69 $fill in the blank 8f50a7068fe6ffb_70 $fill in the blank 8f50a7068fe6ffb_71 $fill in the blank 8f50a7068fe6ffb_72 $fill in the blank 8f50a7068fe6ffb_73 $fill in the blank 8f50a7068fe6ffb_74 fill in the blank 8f50a7068fe6ffb_75
Fitzwilson, G. fill in the blank 8f50a7068fe6ffb_76 $fill in the blank 8f50a7068fe6ffb_77 $fill in the blank 8f50a7068fe6ffb_78 $fill in the blank 8f50a7068fe6ffb_79 $fill in the blank 8f50a7068fe6ffb_80 $fill in the blank 8f50a7068fe6ffb_81 $fill in the blank 8f50a7068fe6ffb_82 $fill in the blank 8f50a7068fe6ffb_83 $fill in the blank 8f50a7068fe6ffb_84 $fill in the blank 8f50a7068fe6ffb_85 $fill in the blank 8f50a7068fe6ffb_86 $fill in the blank 8f50a7068fe6ffb_87 $fill in the blank 8f50a7068fe6ffb_88 $fill in the blank 8f50a7068fe6ffb_89 fill in the blank 8f50a7068fe6ffb_90
    $fill in the blank 8f50a7068fe6ffb_91 $fill in the blank 8f50a7068fe6ffb_92 $fill in the blank 8f50a7068fe6ffb_93 $fill in the blank 8f50a7068fe6ffb_94 $fill in the blank 8f50a7068fe6ffb_95 $fill in the blank 8f50a7068fe6ffb_96 $fill in the blank 8f50a7068fe6ffb_97 $fill in the blank 8f50a7068fe6ffb_98 $fill in the blank 8f50a7068fe6ffb_99 $fill in the blank 8f50a7068fe6ffb_100 $fill in the blank 8f50a7068fe6ffb_101 $fill in the blank 8f50a7068fe6ffb_102 $fill in the blank 8f50a7068fe6ffb_103
 

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 Prepare a general journal entry to record the payroll. The firm's general ledger contains a Wages Expense account and a Wages Payable account. Then assuming that the firm has transferred funds from its regular bank account to its special payroll bank account and that this entry has been made, prepare a general journal entry to record the payment of wages. When necessary, round your intermediate calculations and the final answers to the nearest cent. If an amount box does not require an entry, leave it blank.

 

GENERAL JOURNAL PAGE      
DATE DESCRIPTION   POST. REF. DEBIT CREDIT
20--    
Feb. 21
 
    fill in the blank ee29ee01603501e_2 fill in the blank ee29ee01603501e_3
       
 
    fill in the blank ee29ee01603501e_5 fill in the blank ee29ee01603501e_6
       
 
    fill in the blank ee29ee01603501e_8 fill in the blank ee29ee01603501e_9
       
 
    fill in the blank ee29ee01603501e_11 fill in the blank ee29ee01603501e_12
       
 
    fill in the blank ee29ee01603501e_14 fill in the blank ee29ee01603501e_15
  Payroll register for week ended February 21.  
     
Feb. 21
 
    fill in the blank ee29ee01603501e_17  
       
 
      fill in the blank ee29ee01603501e_19
  Paid wages for week ended February 21.  
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