Sheffield Hardware has four employees who are paid on an hourly basis plus time-and-a-half for all hours worked in excess of 40 a week. Payroll data for the week ended March 15 are presented below. Employee Hours Worked Hourly Rate Federal Income Tax Withholdings United Fund Cumulative Earnings (Jan. 1–Mar. 7) Ben Abel 40 $15 $? $5 3,000 Rita Hager 42 16 ? 5 3,000 Jack Never 44 13 60 8 3,000 Sue Perez 46 13 61 5 3,000 Abel and Hager are married. They claim 0 and 4 withholding allowances, respectively. The 7.65% FICA tax rate consists of the Social Security tax rate of 6.2% on salaries and wages up to $128,400 and the Medicare tax rate of 1.45% on all salaries and wages. State income taxes are 3%. (a) Prepare a payroll register for the weekly payroll. (Round answers to 2 decimal places, e.g. 15.25.) MARRIED Persons ― WEEKLY Payroll Period (For Wages Paid through December 2017) If the wages are ― And the number of withholding allowances claimed is ― At least But less than 0 1 2 3 4 5 6 7 8 9 10 The amount of income tax to be withheld is ― 500 510 34 27 19 11 4 0 0 0 0 0 0 510 520 35 28 20 12 5 0 0 0 0 0 0 520 530 37 29 21 13 6 0 0 0 0 0 0 530 540 38 30 22 14 7 0 0 0 0 0 0 540 550 40 31 23 15 8 0 0 0 0 0 0 550 560 41 32 24 16 9 1 0 0 0 0 0 560 570 43 33 25 17 10 2 0 0 0 0 0 570 580 44 34 26 18 11 3 0 0 0 0 0 580 590 46 35 27 19 12 4 0 0 0 0 0 590 600 47 36 28 20 13 5 0 0 0 0 0 600 610 49 38 29 21 14 6 0 0 0 0 0 610 620 50 39 30 22 15 7 0 0 0 0 0 620 630 52 41 31 23 16 8 1 0 0 0 0 630 640 53 42 32 24 17 9 2 0 0 0 0 640 650 55 44 33 25 18 10 3 0 0 0 0 650 660 56 45 34 26 19 11 4 0 0 0 0 660 670 58 47 35 27 20 12 5 0 0 0 0 670 680 59 48 37 28 21 13 6 0 0 0 0 680 690 61 50 38 29 22 14 7 0 0 0 0 690 700 62 51 40 30 23 15 8 0 0 0 0 SHEFFIELD HARDWARE Payroll Register For the Week Ending March 15, 2020 Earnings Taxable Earnings Deductions Paid Account Debited Employee Hours Regular Overtime Gross Pay Cumulative Earnings Social Security Medicare FICA Federal Income Tax State Income Tax United Fund Total Net Pay Salaries and Wages Expense Ben Abel 40 $enter a dollar amount $enter a dollar amount $enter a dollar amount $enter a dollar amount $enter a dollar amount $enter a dollar amount $enter a dollar amount $enter a dollar amount $enter a dollar amount $enter a dollar amount $enter a dollar amount $enter a dollar amount $enter a dollar amount Rita Hager 42 enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount Jack Never 44 enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount Sue Perez 46 enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount Totals $enter a total amoun

Sheffield Hardware has four employees who are paid on an hourly basis plus time-and-a-half for all hours worked in excess of 40 a week. Payroll data for the week ended March 15 are presented below. Employee Hours Worked Hourly Rate Federal Income Tax Withholdings United Fund Cumulative Earnings (Jan. 1–Mar. 7) Ben Abel 40 $15 $? $5 3,000 Rita Hager 42 16 ? 5 3,000 Jack Never 44 13 60 8 3,000 Sue Perez 46 13 61 5 3,000 Abel and Hager are married. They claim 0 and 4 withholding allowances, respectively. The 7.65% FICA tax rate consists of the Social Security tax rate of 6.2% on salaries and wages up to $128,400 and the Medicare tax rate of 1.45% on all salaries and wages. State income taxes are 3%. (a) Prepare a payroll register for the weekly payroll. (Round answers to 2 decimal places, e.g. 15.25.) MARRIED Persons ― WEEKLY Payroll Period (For Wages Paid through December 2017) If the wages are ― And the number of withholding allowances claimed is ― At least But less than 0 1 2 3 4 5 6 7 8 9 10 The amount of income tax to be withheld is ― 500 510 34 27 19 11 4 0 0 0 0 0 0 510 520 35 28 20 12 5 0 0 0 0 0 0 520 530 37 29 21 13 6 0 0 0 0 0 0 530 540 38 30 22 14 7 0 0 0 0 0 0 540 550 40 31 23 15 8 0 0 0 0 0 0 550 560 41 32 24 16 9 1 0 0 0 0 0 560 570 43 33 25 17 10 2 0 0 0 0 0 570 580 44 34 26 18 11 3 0 0 0 0 0 580 590 46 35 27 19 12 4 0 0 0 0 0 590 600 47 36 28 20 13 5 0 0 0 0 0 600 610 49 38 29 21 14 6 0 0 0 0 0 610 620 50 39 30 22 15 7 0 0 0 0 0 620 630 52 41 31 23 16 8 1 0 0 0 0 630 640 53 42 32 24 17 9 2 0 0 0 0 640 650 55 44 33 25 18 10 3 0 0 0 0 650 660 56 45 34 26 19 11 4 0 0 0 0 660 670 58 47 35 27 20 12 5 0 0 0 0 670 680 59 48 37 28 21 13 6 0 0 0 0 680 690 61 50 38 29 22 14 7 0 0 0 0 690 700 62 51 40 30 23 15 8 0 0 0 0 SHEFFIELD HARDWARE Payroll Register For the Week Ending March 15, 2020 Earnings Taxable Earnings Deductions Paid Account Debited Employee Hours Regular Overtime Gross Pay Cumulative Earnings Social Security Medicare FICA Federal Income Tax State Income Tax United Fund Total Net Pay Salaries and Wages Expense Ben Abel 40 $enter a dollar amount $enter a dollar amount $enter a dollar amount $enter a dollar amount $enter a dollar amount $enter a dollar amount $enter a dollar amount $enter a dollar amount $enter a dollar amount $enter a dollar amount $enter a dollar amount $enter a dollar amount $enter a dollar amount Rita Hager 42 enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount Jack Never 44 enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount Sue Perez 46 enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount Totals $enter a total amoun

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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(a)

Prepare a payroll register for the weekly payroll. (Round answers to 2 decimal places, e.g. 15.25.)

If the wages are ―	And the number of withholding allowances claimed is ―
MARRIED Persons ― WEEKLY Payroll Period
(For Wages Paid through December 2017)
At least	But less than	0	1	2	3	4	5	6	7	8	9	10
The amount of income tax to be withheld is ―
500	510	34	27	19	11	4	0	0	0	0	0	0
510	520	35	28	20	12	5	0	0	0	0	0	0
520	530	37	29	21	13	6	0	0	0	0	0	0
530	540	38	30	22	14	7	0	0	0	0	0	0
540	550	40	31	23	15	8	0	0	0	0	0	0

550	560	41	32	24	16	9	1	0	0	0	0	0
560	570	43	33	25	17	10	2	0	0	0	0	0
570	580	44	34	26	18	11	3	0	0	0	0	0
580	590	46	35	27	19	12	4	0	0	0	0	0
590	600	47	36	28	20	13	5	0	0	0	0	0

600	610	49	38	29	21	14	6	0	0	0	0	0
610	620	50	39	30	22	15	7	0	0	0	0	0
620	630	52	41	31	23	16	8	1	0	0	0	0
630	640	53	42	32	24	17	9	2	0	0	0	0
640	650	55	44	33	25	18	10	3	0	0	0	0

650	660	56	45	34	26	19	11	4	0	0	0	0
660	670	58	47	35	27	20	12	5	0	0	0	0
670	680	59	48	37	28	21	13	6	0	0	0	0
680	690	61	50	38	29	22	14	7	0	0	0	0
690	700	62	51	40	30	23	15	8	0	0	0	0

SHEFFIELD HARDWARE Payroll Register For the Week Ending March 15, 2020
		Earnings	Taxable Earnings	Deductions	Paid	Account Debited
Employee	Hours	Regular	Overtime	Gross Pay	Cumulative Earnings	Social Security	Medicare	FICA	Federal Income Tax	State Income Tax	United Fund	Total	Net Pay	Salaries and Wages Expense
Ben Abel	40	$enter a dollar amount	$enter a dollar amount	$enter a dollar amount	$enter a dollar amount	$enter a dollar amount	$enter a dollar amount	$enter a dollar amount	$enter a dollar amount	$enter a dollar amount	$enter a dollar amount	$enter a dollar amount	$enter a dollar amount	$enter a dollar amount
Rita Hager	42	enter a dollar amount	enter a dollar amount	enter a dollar amount	enter a dollar amount	enter a dollar amount	enter a dollar amount	enter a dollar amount	enter a dollar amount	enter a dollar amount	enter a dollar amount	enter a dollar amount	enter a dollar amount	enter a dollar amount
Jack Never	44	enter a dollar amount	enter a dollar amount	enter a dollar amount	enter a dollar amount	enter a dollar amount	enter a dollar amount	enter a dollar amount	enter a dollar amount	enter a dollar amount	enter a dollar amount	enter a dollar amount	enter a dollar amount	enter a dollar amount
Sue Perez	46	enter a dollar amount	enter a dollar amount	enter a dollar amount	enter a dollar amount	enter a dollar amount	enter a dollar amount	enter a dollar amount	enter a dollar amount	enter a dollar amount	enter a dollar amount	enter a dollar amount	enter a dollar amount	enter a dollar amount
Totals		$enter a total amount	$enter a total amount	$enter a total amount	$enter a dollar amount	$enter a dollar amount	$enter a dollar amount	$enter a total amount	$enter a total amount	$enter a total amount	$enter a total amount	$enter a total amount	$enter a total amount	$enter a total amount

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Journalize the payroll on March 15, and the accrual of employee payroll taxes

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Employee	Hours Worked	Hourly Rate	Federal Income Tax Withholdings	United Fund	Cumulative Earnings (Jan. 1–Mar. 7)
Ben Abel	40	$15		$?		$5	3,000
Rita Hager	42	16		?		5	3,000
Jack Never	44	13		60		8	3,000
Sue Perez	46	13		61		5	3,000