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 HoursWorked HourlyRate FederalIncome TaxWithholdings UnitedFund CumulativeEarnings(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%. 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 leastBut lessthan012345678910The amount of income tax to be withheld is ―500510342719114000000510520352820125000000520530372921136000000530540383022147000000540550403123158000000 5505604132241691000005605704333251710200000570580443426181130000058059046352719124000005906004736282013500000 600610493829211460000061062050393022157000006206305241312316810000630640534232241792000064065055443325181030000 6506605645342619114000066067058473527201250000670680594837282113600006806906150382922147000069070062514030231580000SHEFFIELD HARDWAREPayroll RegisterFor the Week Ending March 15, 2020 Earnings Taxable Earnings Deductions Paid Account DebitedEmployee Hours Regular Overtime Gross Pay CumulativeEarnings Social Security Medicare FICA Federal Income Tax State Income Tax United Fund Total Net Pay Salaries and Wages ExpenseBen 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 amountJack 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 amountSue 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 amountTotals $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 eTextbook and MediaList of Accounts Journalize the payroll on March 15, 2020, and the accrual of employer payroll taxes. (Round answers to 2 decimal places, e.g. 15.25. Credit account titles are automatically indented when amount is entered. Do not indent manually.)DateAccount Titles and ExplanationDebitCreditMar. 15enter an account title to record payroll on March 15enter a debit amountenter a credit amount enter an account title to record payroll on March 15enter a debit amountenter a credit amount enter an account title to record payroll on March 15enter a debit amountenter a credit amount enter an account title to record payroll on March 15enter a debit amountenter a credit amount enter an account title to record payroll on March 15enter a debit amountenter a credit amount enter an account title to record payroll on March 15enter a debit amountenter a credit amount eTextbook and MediaList of Accounts Journalize the payment of the payroll on March 16, 2020. (Round answers to 2 decimal places, e.g. 15.25. Credit account titles are automatically indented when amount is entered. Do not indent manually.)DateAccount Titles and ExplanationDebitCreditMar. 16enter an account title for the journal entry on March 16enter a debit amountenter a credit amount enter an account title for the journal entry on March 16enter a debit amountenter a credit amount eTextbook and MediaList of Accounts

Answered: Image /qna-images/answer/61238434-8597-4525-ace6-0e046831f19f.jpg

Answered: Sheffield Hardware has four employees…

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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Question

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%.

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

eTextbook and Media

List of Accounts

Journalize the payroll on March 15, 2020, and the accrual of employer payroll taxes. (Round answers to 2 decimal places, e.g. 15.25. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
Mar. 15	enter an account title to record payroll on March 15	enter a debit amount	enter a credit amount
	enter an account title to record payroll on March 15	enter a debit amount	enter a credit amount
	enter an account title to record payroll on March 15	enter a debit amount	enter a credit amount
	enter an account title to record payroll on March 15	enter a debit amount	enter a credit amount
	enter an account title to record payroll on March 15	enter a debit amount	enter a credit amount
	enter an account title to record payroll on March 15	enter a debit amount	enter a credit amount

eTextbook and Media

List of Accounts

Journalize the payment of the payroll on March 16, 2020. (Round answers to 2 decimal places, e.g. 15.25. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
Mar. 16	enter an account title for the journal entry on March 16	enter a debit amount	enter a credit amount
	enter an account title for the journal entry on March 16	enter a debit amount	enter a credit amount

eTextbook and Media

List of Accounts

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