Problem 2. A weekly payroll summary made from time tickets shows the following da A weekly payron summitary ma Number of Hours Exemption Employee Rate/Hour Regular Classification Overtime Status Austria, B. Direct P 36 40 2 S Bautista, D. Direct 36 40 ΜΕ 3 45 De Santos, M. Direct 40 ME-2 30 Indirect 40 HF - 4 Motus, R. Reyes, A. 30 Indirect 40 HF Overtime is payable at one-and-a-half times the regular rate of pay for an employee. Required a) Prepare journal entries for: ► recording the payroll. payment of the payroll. distribution of the payroll.
Problem 2. A weekly payroll summary made from time tickets shows the following da A weekly payron summitary ma Number of Hours Exemption Employee Rate/Hour Regular Classification Overtime Status Austria, B. Direct P 36 40 2 S Bautista, D. Direct 36 40 ΜΕ 3 45 De Santos, M. Direct 40 ME-2 30 Indirect 40 HF - 4 Motus, R. Reyes, A. 30 Indirect 40 HF Overtime is payable at one-and-a-half times the regular rate of pay for an employee. Required a) Prepare journal entries for: ► recording the payroll. payment of the payroll. distribution of the payroll.
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:Problem 2. A weekly payroll summary made from time tickets shows the following data:
A weekly payroul summary ma
Number of Hours
Exemption
Employee
Rate/Hour Regular
Classification
Overtime
Status
P
Direct
36
Austria, B.
40
2
S
Bautista, D.
36
Direct
40
ME
3
De Santos, M.
45
Direct
40
ME-2
30
Indirect
40
HF 4
Motus, R.
Reyes, A.
30
Indirect
40
HF
Overtime is payable at one-and-a-half times the regular rate of pay for an employee.
Required
a) Prepare journal entries for:
► recording the payroll.
► payment of the payroll.
► distribution of the payroll.
► the employer's payroll taxes.
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