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The following data for Throwback Industries Inc. relate to the payroll for the week ended December 9, 20Y8: Hours Hourly Weekly Worked Rate Salary $40 Federal Income Tax 44 $423.20 42 28 258.86 Clemente 45 36 324.9 37 38 295.26 48 44 480.48 DiMaggio Griffey, Jr. Mantle Robinson 518.40 168.00 532.40 Williams Vaughn 46 409,40 Employees Mantle and Williams are office staff, and all of the other employees are sales personnel. All sales personnel are paid 1½ times the regular rate for all hours in excess of 40 hours per week. The social security tax rate is 6%, and Medicare tax is 1.5% of eac employee's annual earnings. The next payroll check to be used is No. 901. Required: Employee Aaron Cobb 35 43 32 $2,160 2,420 Retirements Savings $75 75 70 100 95 75 75 95 75 1. Prepare a payroll register for Throwback Industries Inc. for the week ended December 9, 20Y8. Assume the normal working hours in a week are 40 hours. Enter amounts as positive numbers. Round your intermediate calculations and final answers to the dur

The following data for Throwback Industries Inc. relate to the payroll for the week ended December 9, 20Y8: Hours Hourly Weekly Worked Rate Salary $40 Federal Income Tax 44 $423.20 42 28 258.86 Clemente 45 36 324.9 37 38 295.26 48 44 480.48 DiMaggio Griffey, Jr. Mantle Robinson 518.40 168.00 532.40 Williams Vaughn 46 409,40 Employees Mantle and Williams are office staff, and all of the other employees are sales personnel. All sales personnel are paid 1½ times the regular rate for all hours in excess of 40 hours per week. The social security tax rate is 6%, and Medicare tax is 1.5% of eac employee's annual earnings. The next payroll check to be used is No. 901. Required: Employee Aaron Cobb 35 43 32 $2,160 2,420 Retirements Savings $75 75 70 100 95 75 75 95 75 1. Prepare a payroll register for Throwback Industries Inc. for the week ended December 9, 20Y8. Assume the normal working hours in a week are 40 hours. Enter amounts as positive numbers. Round your intermediate calculations and final answers to the dur

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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Payroll Register The following data for Throwback Industries Inc. relate to the payroll for the week ended December 9, 2018: Hours Hourly Weekly Federal Income Tax Employee Worked Rate Salary 44 $40 $423.20 28 258.86 36 324.9 38 295.26 44 480.48 518.40 168.00 532.40 409.40 Aaron Cobb Clemente DiMaggio Griffey, Jr. Mantle 42 45 37 48 35 Robinson Williams Vaughn 43 Employees Mantle and Williams are office staff, and all of the other employees are sales personnel. All sales personnel are paid 1½ times the regular rate for all hours in excess of 40 hours per week. The social security tax rate is 6%, and Medicare tax is 1.5% of each employee's annual earings. The next payroll check to be used is No. 901. Required: 32 $2,160 46 Retirements Savings $75 75 70 100 95 75 75 95 75 2,420 1. Prepare a payroll register for Throwback Industries Inc. for the week ended December 9, 20Y8. Assume the normal working hours in a week are 40 hours. Enter amounts as positive numbers. Round your intermediate calculations and final answers to the nearest whole cent (two decimal places).
Transcribed Image Text:Payroll Register The following data for Throwback Industries Inc. relate to the payroll for the week ended December 9, 2018: Hours Hourly Weekly Federal Income Tax Employee Worked Rate Salary 44 $40 $423.20 28 258.86 36 324.9 38 295.26 44 480.48 518.40 168.00 532.40 409.40 Aaron Cobb Clemente DiMaggio Griffey, Jr. Mantle 42 45 37 48 35 Robinson Williams Vaughn 43 Employees Mantle and Williams are office staff, and all of the other employees are sales personnel. All sales personnel are paid 1½ times the regular rate for all hours in excess of 40 hours per week. The social security tax rate is 6%, and Medicare tax is 1.5% of each employee's annual earings. The next payroll check to be used is No. 901. Required: 32 $2,160 46 Retirements Savings $75 75 70 100 95 75 75 95 75 2,420 1. Prepare a payroll register for Throwback Industries Inc. for the week ended December 9, 20Y8. Assume the normal working hours in a week are 40 hours. Enter amounts as positive numbers. Round your intermediate calculations and final answers to the nearest whole cent (two decimal places).
Total Name Hours Aaron Cobb 44 42 Clemente 45 DiMaggio 37 Griffey, Jr. 48 Mantle Robinson 35 Williams Vaughn 43 Totals Earnings Regular Overtime Total Payroll for Week Ending December 9, 20Y8 Deductions Withheld Social Security Tax $ Medicare Tax $ Federal Income Tax $423.20 258.86 324.90 295.26 480.48 518.40 168.00 532.40 409,40 Retirement Savings $75 75 $ 70 100 95 75 75 95 75 $ Total Paid Net Pay Ck. No. Accounts Debited Sales Salaries Expense 901 $ 902 903 904 905 906 907 908 909 2. Journalize the entry to record the payroll for the week. If required, round your answers to two decimal places. If an amount box does not require an entry, leave it blank. Office Salaries Expense 100 $
Transcribed Image Text:Total Name Hours Aaron Cobb 44 42 Clemente 45 DiMaggio 37 Griffey, Jr. 48 Mantle Robinson 35 Williams Vaughn 43 Totals Earnings Regular Overtime Total Payroll for Week Ending December 9, 20Y8 Deductions Withheld Social Security Tax $ Medicare Tax $ Federal Income Tax $423.20 258.86 324.90 295.26 480.48 518.40 168.00 532.40 409,40 Retirement Savings $75 75 $ 70 100 95 75 75 95 75 $ Total Paid Net Pay Ck. No. Accounts Debited Sales Salaries Expense 901 $ 902 903 904 905 906 907 908 909 2. Journalize the entry to record the payroll for the week. If required, round your answers to two decimal places. If an amount box does not require an entry, leave it blank. Office Salaries Expense 100 $
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