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Preparing the Payroll Register

Preparing the Payroll Register

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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Problem 12-9 Preparing the Payroll Register Showbiz Video has six employees who are paid weekly. The hourly employees are paid overtime for hours worked over 40 in a week, at a rate 12 times their regular rate of pay. Employee information follows: Employee Mary Arcompora Barbara Fox Employee Number 105 Marital Status Allowances Married Married John French Chris German 137 135 141 Single Married 4. David Ifkovic 139 129 Single Married Susan Tilbert Mary Arcompora, the store manager, is paid a salary of $300.00 per week plus 1% of all rental sales. Barbara Fox and John French, salespeople, are paid a salary of $200.00 per week plus a 6% commission on all rentals from the "Oldies but Goodies" section. Chris German and David Ifkovic, office workers, are paid an hourly wage of $7.25. Susan Tilbert, a stock person, is paid $7.40 per hour. The payroll deductions include federal income tax, social security tax of 6.2%, Medicare tax of 1.45%, and state income tax of 1.8%. Chris German and Susan Tilbert have $12.50 deducted each week for hospital insurance. German worked 41 hours, Ifkovic worked 38.5 hours, and Tilbert worked 34 hours. During the week ending October 24, "Oldies but Goodies" rentals were $484.90 for Barbara Fox and $641.70 for John French. Total rental revenue for the week was $3,917.30. NO.141 NAME Chris Cerman 449-XX-XXXX Daoper 24, 20– Soc sEC N WEEK ENDING CAY 0.7 0.7 80512:03 1:00 5:05 8:0012:05 1:10 5:00 9:05/12:05 1:15 6:05 8:3011:55 1:15 6:00 8:00 12:00 1:00 6:15 211 01
Transcribed Image Text:Problem 12-9 Preparing the Payroll Register Showbiz Video has six employees who are paid weekly. The hourly employees are paid overtime for hours worked over 40 in a week, at a rate 12 times their regular rate of pay. Employee information follows: Employee Mary Arcompora Barbara Fox Employee Number 105 Marital Status Allowances Married Married John French Chris German 137 135 141 Single Married 4. David Ifkovic 139 129 Single Married Susan Tilbert Mary Arcompora, the store manager, is paid a salary of $300.00 per week plus 1% of all rental sales. Barbara Fox and John French, salespeople, are paid a salary of $200.00 per week plus a 6% commission on all rentals from the "Oldies but Goodies" section. Chris German and David Ifkovic, office workers, are paid an hourly wage of $7.25. Susan Tilbert, a stock person, is paid $7.40 per hour. The payroll deductions include federal income tax, social security tax of 6.2%, Medicare tax of 1.45%, and state income tax of 1.8%. Chris German and Susan Tilbert have $12.50 deducted each week for hospital insurance. German worked 41 hours, Ifkovic worked 38.5 hours, and Tilbert worked 34 hours. During the week ending October 24, "Oldies but Goodies" rentals were $484.90 for Barbara Fox and $641.70 for John French. Total rental revenue for the week was $3,917.30. NO.141 NAME Chris Cerman 449-XX-XXXX Daoper 24, 20– Soc sEC N WEEK ENDING CAY 0.7 0.7 80512:03 1:00 5:05 8:0012:05 1:10 5:00 9:05/12:05 1:15 6:05 8:3011:55 1:15 6:00 8:00 12:00 1:00 6:15 211 01
DATE OF PAY PERIOD ENDING 20- 20 PAYMENT NET СК. EARNINGS DEDUCTIONS EMPLOYEE MAR. TOTAL NAME ALLOW RATE SOC. SEC. FED. INC. STATE INC. HOSP. INS OTHERS TOTAL PAY NO. NUMBER STATUS HOURS REGULAR OVERTIME TOTAL MED. TAX TAX TAX TAX 10 2 3 6. 9. 10 11 10 12 11 13 14 13 15 14 16 17 15 18 16 17 18 25 12 7.
Transcribed Image Text:DATE OF PAY PERIOD ENDING 20- 20 PAYMENT NET СК. EARNINGS DEDUCTIONS EMPLOYEE MAR. TOTAL NAME ALLOW RATE SOC. SEC. FED. INC. STATE INC. HOSP. INS OTHERS TOTAL PAY NO. NUMBER STATUS HOURS REGULAR OVERTIME TOTAL MED. TAX TAX TAX TAX 10 2 3 6. 9. 10 11 10 12 11 13 14 13 15 14 16 17 15 18 16 17 18 25 12 7.
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