Problem 2. A weekly payroll summary made from time tickets shows the following data:A weekiy payroii su mai y mauv uv .-ExemptionStatusSNumber of HoursClassificationDirectDirectRate/Hour Regular OvertimeEmployeeAustria, B.Bautista, D.De Santos, M.Motus, R.Reyes, A.P.364036403MEМЕ-2HF - 44540DirectIndirectIndirect30403040HFOvertime is payable at one-and-a-half times the regular rate of pay for an employee.Requireda) Prepare journal entries for:• recording the payroll.> payment of the payroll.• distribution of the payroll.• the employer's payroll taxes.

Journal entry is the entry which is made at the time when-ever a business transaction takes place.…

Problem 2. A weekly payroll summary made from time tickets shows the following data: A weekiy payroii suimmai y mauv uv - Exemption Status S Number of Hours Rate/Hour Regular Overtime 40 Employee Austria, B. Bautista, D. De Santos, M. Motus, R. Reyes, A. Classification Direct Direct Direct Indirect Indirect 36 2 36 40 МЕ МЕ-2 HF - 4 45 40 30 40 30 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:

Problem 2. A weekly payroll summary made from time tickets shows the following data: A weekiy payroii suimmai y mauv uv - Exemption Status S Number of Hours Rate/Hour Regular Overtime 40 Employee Austria, B. Bautista, D. De Santos, M. Motus, R. Reyes, A. Classification Direct Direct Direct Indirect Indirect 36 2 36 40 МЕ МЕ-2 HF - 4 45 40 30 40 30 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:

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter13: Accounting For Payroll And Payroll Taxes

Section: Chapter Questions

Problem 2AP

See similar textbooks

Similar questions

Problem 2. A weekly payroll summary made from time tickets shows the following data: A weekiy payroii sumimai y mauv - Exemption Status 學了實TT Number of Hours Rate/Hour Regular Overtime 36 Employee Austria, B. Bautista, D. De Santos, M. Motus, R. Reyes, A. Classification Direct Direct Direct Indirect 40 P. 36 45 40 40 3 МЕ МЕ-2 HF 4 30 40 4 Indirect 30 40 HF Overtime is payable at one-and-a-half times the regular rate of pay for an employee. Required a) Determine the net pay for each employee.
Asap
Concerning payroll accounting - What is the order of calculation on Quarter-hour method & Hundreth-hour method? For example: IN 8:08 OUT 11:57 IN 12:59 OUT 4:57 IN 9:04 OUT 12:17 IN 1:28 OUT 5:18 IN 7:45 OUT 11:45 IN 12:43 OUT 4:01 IN 7:57 OUT 12:04 IN 1:03 OUT 5:06 Thank you for your assistance. Jewelee Marple
Employees’ earnings and taxesA weekly payroll summary made from labor time records showsthe following data for Pima Company:HourlyRateHoursEmployee Classification Regular OvertimeTu, H. Direct $12 40 2Dante, J. Direct 12 40 3Jamal, M. Direct 15 40 4Marcus, L. Indirect 9 40Alexander, T. Indirect 18 40Overtime is payable at one-and-a-half times the regular rate of payand is distributed to all jobs worked on during the period.a. Determine the net pay of each employee. The income taxes withheldfor each employee amount to 15% of the gross wages.b. Prepare journal entries for the following:1. Recording the payroll.2. Paying the payroll.3. Distributing the payroll. (Assume that the overtime premiumwill be charged to all jobs worked on during the period.)4. The employer’s payroll taxes. (Assume that none of theemployees has achieved the maximum wage bases for FICAand unemployment taxes.)
АCTIVITY 1.Some companies use the overtime premium method to determine gross earnings. Use this method to complete the following payroll ledger. Overtime is paid at the time-and-a-half rate for all hours over 40? O.T. Hours Worked Gross Earnings Total Reg. 0.T. Premium S Hours Rate Hours Rate Employee S M W TH F 0.T. Total 16. Averell, B. 10 9 8 5 12 7 51 $11.40 11 $5.70 $581.40 $62.70 $644.10 - 17. Brownlee, K. 7.75 10 5 9.75 8 10 $9.50 18. Carter, M. 12 11 8 8.25 11 $8.60 - |- 19. Parks, K. 8.5 5.5 10 12 10.5 7 $12.50 - 20. Parr, J. 10 9.75 9 11.5 10 $10.20
The totals from the first payroll of the year are shown below. TotalEarnings FICAOASDI FICAHI FITW/H StateTax UnionDues NetPay $36,195.10 $2,244.10 $524.83 $6,515.00 $361.95 $500.00 $26,049.22 Journalize the adjustment for accrued wages for the following Monday, which is the end of the accounting period. The gross payroll for that day is $7,475.
Using the Payroll Journal (PRJ01) for XY Consumer Products, the Total Gross Pay is: $1,228.58 $1,218.58 $1,534.24 O $1,543.24
The totals from the first payroll of the year are shown below. TotalEarnings FICAOASDI FICAHI FITW/H StateTax UnionDues NetPay $36,195.10 $2,244.10 $524.83 $6,515.00 $361.95 $500.00 $26,049.22 Journalize the entry to record the payroll.
What amount must be remitted if invoices dated June 28 for $815, July7 for $780 and July 14 for $895, all terms 2/10 E.O.M., are paid together on August 7? Round to the nearest cent SAVE PROG 9°C hp
Specialty Manufacturing estimated that its total payroll for the coming year would be $482,500. The workers' compensation insurance premium rate is 0.2%. Required: 1. Calculate the estimated workers' compensation insurance premium.$ Prepare the journal entry for the payment as of January 2, 20--. If an amount box does not require an entry, leave it blank. Page: DATE ACCOUNT TITLE DOC.NO. POST.REF. DEBIT CREDIT 1 20-- Jan. 2 1 2 2 3 3 2. Assume that Specialty Manufacturing's actual payroll for the year is $487,000. Calculate the total insurance premium owed.$ Prepare a journal entry as of December 31, 20--, to record the adjustment for the underpayment. The actual payment of the additional premium will take place in January of the next year. If an amount box does not require an entry, leave it blank. Page: DATE ACCOUNT TITLE DOC.NO. POST.REF. DEBIT CREDIT 1 20-- Dec. 31 1 2…
Instructions According to a summary of the payroll of Mountain Streaming Co., $770,000 was subject to the 6.0% social security tax and the 1.5% Medicare tax. Also, $42,000 was subject to state and federal unemployment taxes. Required: A. Calculate the employer's payroll taxes, using the following rates: state unemployment, 5.4%; federal unemployment, 0.8%. B. Journalize the entry to record the accrual of payroll taxes. Refer to the Chart of Accounts for exact wording of account titles.
Workers' Compensation Insurance and Adjustment Specialty Manufacturing estimated that its total payroll for the coming year would be $447,500. The workers' compensation insurance premium rate is 0.2%. Required: 1. Calculate the estimated workers' compensation insurance premium. $ Prepare the journal entry for the payment as of January 2, 20--. Page: DỌC. POST. DATE ACCOUNT TITLE DEBIT CREDIT NO. REF. 20-- 1 Jan. 2 1 2 2 3 2. Assume that Specialty Manufacturing's actual payroll for the year is $452,500.00. Calculate the total insurance premium owed. Prepare a journal entry as of December 31, 20--, to record the adjustment for the underpayment. The actual payment of the additional premium will take place in January of the next year. Page: DOC. POST. DATE ACCOUNT TITLE DEBIT CREDIT NO. REF. 20-- 1 Dec. 31 2 2 3 3