Milligan's Millworks pays its employees weekly. Use the wage-bracket tables from Appendix C to comp withholdings for the following employees of Milligan's Millworks: Assume that no pre-tax deductions exi is not checked for all employees and Manual payroll system is used. (Round your intermediate calculat decimal places. Leave no cells blank. Enter "0" wherever required.) Employee D. Balestreri Y. Milligan Filing Status Single Single Dependents Two <17 One Other Weekly Pay $ $ 845 1,233 Federal Tax

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Payroll Entries

Payroll is a comprehensive record of employees that are paid by the company. Payroll classifies employees into various categories according to their function and pays scale (basic wage, allowance, income tax, other taxes, employee loans, etc.). Payroll processes form the bedrock of every organization as it contains sensitive information on the ‘wage and paycheck’ portion of the company’s strength—its employees. The organization needs to keep a track of the employees currently on the payroll, the net payout for the company, the record of transactions related to the employees including deductions and payroll taxes to identify the liability and its effect on the balance sheet (and other financial statements). Payroll records also include qualitative factors such as the conduct of the employee.