Ultimate Accounting Services has the following payroll information for the week ending in December 7. State Income Tax is computed as 20 percent of Federal Income Tax. Name Beginning Cumulative Earnings Total Earnings Deductions Federal Income Tax State Income Tax Trouble, M. 7,000.00 580.00 50 10 Dainty, D. 6,540.00 470.00 36 7.2 Joyner, T. 25,600.00 680.00 75 15 Madison, W. 45,000.00 900.00 92 18.4 Frank, G. 90,200.00 1,100.00 245 49 Thomas, R. 35,000.00 890.00 46 9.2 Assumed tax rates are as follows: FICA: Social Security, (employer) 6.2 percent (0.062) and (employee) 6.2 percent (0.062) on the first $118,500 for each employee, and Medicare, 1.45 percent (0.0145) on all earnings for each employee. State unemployment tax, 5.4 percent (0.054) on the first $7,000 for each employee. Federal unemployment tax, 0.6 percent (0.006) on the first $7,000 for each employee. What you must do: Complete the attached payroll register (Unit 6 Payroll - Question 4)(Excel Spreadsheet). To assist, use the following information: Payroll checks begin with Ck. No. 4510 in the payroll register. Submission Format Use the attached payroll register (Unit 6 Payroll - Question 4)(Excel Spreadsheet) to complete this assignment. Taxable Earnings Deductions Payments Name Beginning Cumulative Earnings Total Earnings Ending Cumulative Earnings Unemploy-ment Social Security Medicare Federal Income Tax State Income Tax Social Security Tax Medicare Tax Total Net Amount Check No. Trouble, M. 7,000.00 580.00 50.00 10.00 Dainty, D. 6,540.00 470.00 36.00 7.20 Joyner, T. 25,600.00 680.00 75.00 15.00 Madison, W. 45,000.00 900.00 92.00 18.40 Frank, G. 90,200.00 1,100.00 245.00 49.00 Thomas, R. 35,000.00 890.00 46.00 9.20 209,340.00 4,620.00 - - - - 544.00 108.80 - - - - How do I fill this out?

Ultimate Accounting Services has the following payroll information for the week ending in December 7. State Income Tax is computed as 20 percent of Federal Income Tax. Name Beginning Cumulative Earnings Total Earnings Deductions Federal Income Tax State Income Tax Trouble, M. 7,000.00 580.00 50 10 Dainty, D. 6,540.00 470.00 36 7.2 Joyner, T. 25,600.00 680.00 75 15 Madison, W. 45,000.00 900.00 92 18.4 Frank, G. 90,200.00 1,100.00 245 49 Thomas, R. 35,000.00 890.00 46 9.2 Assumed tax rates are as follows: FICA: Social Security, (employer) 6.2 percent (0.062) and (employee) 6.2 percent (0.062) on the first $118,500 for each employee, and Medicare, 1.45 percent (0.0145) on all earnings for each employee. State unemployment tax, 5.4 percent (0.054) on the first $7,000 for each employee. Federal unemployment tax, 0.6 percent (0.006) on the first $7,000 for each employee. What you must do: Complete the attached payroll register (Unit 6 Payroll - Question 4)(Excel Spreadsheet). To assist, use the following information: Payroll checks begin with Ck. No. 4510 in the payroll register. Submission Format Use the attached payroll register (Unit 6 Payroll - Question 4)(Excel Spreadsheet) to complete this assignment. Taxable Earnings Deductions Payments Name Beginning Cumulative Earnings Total Earnings Ending Cumulative Earnings Unemploy-ment Social Security Medicare Federal Income Tax State Income Tax Social Security Tax Medicare Tax Total Net Amount Check No. Trouble, M. 7,000.00 580.00 50.00 10.00 Dainty, D. 6,540.00 470.00 36.00 7.20 Joyner, T. 25,600.00 680.00 75.00 15.00 Madison, W. 45,000.00 900.00 92.00 18.40 Frank, G. 90,200.00 1,100.00 245.00 49.00 Thomas, R. 35,000.00 890.00 46.00 9.20 209,340.00 4,620.00 - - - - 544.00 108.80 - - - - How do I fill this out?

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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What you must do:

Complete the attached payroll register (Unit 6 Payroll - Question 4)(Excel Spreadsheet). To assist, use the following information:

Payroll checks begin with Ck. No. 4510 in the payroll register.

Submission Format

Use the attached payroll register (Unit 6 Payroll - Question 4)(Excel Spreadsheet) to complete this assignment.

				Taxable Earnings	Deductions		Payments
Name	Beginning Cumulative Earnings	Total Earnings	Ending Cumulative Earnings	Unemploy-ment		Social Security		Medicare	Federal Income Tax	State Income Tax	Social Security Tax	Medicare Tax	Total	Net Amount	Check No.
Trouble, M.	7,000.00	580.00							50.00	10.00
Dainty, D.	6,540.00	470.00							36.00	7.20
Joyner, T.	25,600.00	680.00							75.00	15.00
Madison, W.	45,000.00	900.00							92.00	18.40
Frank, G.	90,200.00	1,100.00							245.00	49.00
Thomas, R.	35,000.00	890.00							46.00	9.20
	209,340.00	4,620.00	-	-		-		-	544.00	108.80	-	-	-	-

How do I fill this out?

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Name	Beginning Cumulative Earnings	Total Earnings	Deductions
Federal Income Tax	State Income Tax
Trouble, M.	7,000.00	580.00	50	10
Dainty, D.	6,540.00	470.00	36	7.2
Joyner, T.	25,600.00	680.00	75	15
Madison, W.	45,000.00	900.00	92	18.4
Frank, G.	90,200.00	1,100.00	245	49
Thomas, R.	35,000.00	890.00	46	9.2