Financial & Managerial Accounting
13th Edition
ISBN: 9781285866307
Author: Carl Warren, James M. Reeve, Jonathan Duchac
Publisher: Cengage Learning
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Textbook Question
Chapter 10, Problem 10.4APR
Payroll register
The following data for Throwback Industries Inc. relate to the payroll for the week ended December 9, 2016:
| Employee | Hours Worked | Hourly Rate | Weekly Salary | Federal Income Tax | U.S. Savings Bonds |
| Aaron | 46 | $68.00 | $750.20 | $100 | |
| Cobb | 41 | 62.00 | 537.68 | 110 | |
| Clemente | 48 | 70.00 | 832.64 | 120 | |
| DiMaggio | 35 | 56.00 | 366.04 | 0 | |
| Griffey, Jr. | 45 | 62.00 | 641.84 | 130 | |
| Mantle | $1,800 | 342.45 | 120 | ||
| Robinson | 36 | 54.00 | 382.56 | 130 | |
| Williams | 2,000 | 398.24 | 125 | ||
| Vaughn | 42 | 62.00 | 584.72 | 50 |
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 6.0%, and Medicare tax is 1.5% of each employee’s annual earnings. The next payroll check to be used is No. 901.
Instructions
1. Prepare a payroll register for Throwback Industries Inc. for the week ended December 9, 2016. Use the following columns for the payroll register: Employee, Total Hours, Regular Earnings, Overtime Earnings, Total Earnings, Social Security Tax, Medicare Tax, Federal Income Tax, U.S. Savings Bonds, Total Deductions, Net Pay, Ck. No., Sales Salaries Expense, and Office Salaries Expense.
2.
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Payroll Register
The following data for Throwback Industries Inc. relate to the payroll for the week ended December 9, 20Y8:
Hours
Hourly
Weekly
Federal
Retirements
Employee
Worked
Rate
Salary
Income Tax
Savings
Aaron
44
$46
$486.68
$75
Cobb
42
32
295.84
70
Clemente
45
24
216.6
100
DiMaggio
38
34
271.32
100
Griffey, Jr.
48
42
458.64
105
Mantle
$2,100
504.00
85
Robinson
35
36
189.00
70
Williams
2,350
517.00
75
Vaughn
43
28
249.20
70
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 earnings. The next payroll check to be used is No. 901.
Required:
1. Prepare a payroll register for Throwback Industries Inc.…
Payroll Register
The following data for Throwback Industries Inc. relate to the payroll for the week ended December 9, 20Y8:
Hours
Hourly
Employee
Worked
Rate
Weekly
Salary
Federal
Retirements
Income Tax
Savings
Aaron
47
$30
$348.45
$75
Cobb
46
42
442.47
65
Clemente
45
234.65
75
DiMaggio
36
40
302.4
90
Griffey, Jr.
44
38
367.08
75
Mantle
$2.170
520.80
90
Robinson
38
34
193.80
80
Williams
2,430
534.60
60
Vaughn
41
46
381.80
100
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 40 hours per week. The social security tax rate is 6%, and Medicare tax is 1.5% of each employee's annual earnings. The next payroll check to be used is No. 901.
Required:
1. Prepare a payroll register for Throwback Industries Inc. for the week ended December 9, 2018. Assume the normal working hours in a week are 40 hours. Enter amounts as positive numbers. Round your Intermediate…
The following data for Throwback Industries Inc. relate to the payroll for the week ended December 9, 2018:
Hours
Hourly
Weekly
Federal
Retirements
Employee
Worked
Rate
Salary
Income Tax
Savings
Aaron
46
$26
$293.02
$55
Cobb
41
Clemente
DiMaggio
Griffey, J
# 9 8 9
44
392.59
60
43
34
287.47
100
37
28
217.56
60
48
42
458.64
60
Mantle
$2,220
532.80
45
Robinson
35
30
157.50
85
Williams
2,490
547.80
40
Vaughn
44
40
368.00
105
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 earnings. The next payroll check to be used is No. 901.
Required:
1. Prepare a payroll register for Throwback Industries Inc. for the week ended December 9, 20YS. Assume the normal working hours in a week are 40 hours. Enter amounts
as positive numbers. Round your intermediate…
Chapter 10 Solutions
Financial & Managerial Accounting
Ch. 10 - Does a discounted note payable provide credit...Ch. 10 - Employees are subject to taxes withheld from their...Ch. 10 - Prob. 3DQCh. 10 - Prob. 4DQCh. 10 - Prob. 5DQCh. 10 - Prob. 6DQCh. 10 - To match revenues and expenses properly, should...Ch. 10 - Prob. 8DQCh. 10 - When should the liability associated with a...Ch. 10 - Prob. 10DQ
Ch. 10 - Proceeds from notes payable On October 12,...Ch. 10 - Proceeds from notes payable On January 26, Nyree...Ch. 10 - Prob. 10.2APECh. 10 - Prob. 10.2BPECh. 10 - Prob. 10.3APECh. 10 - Prob. 10.3BPECh. 10 - Prob. 10.4APECh. 10 - Prob. 10.4BPECh. 10 - Prob. 10.5APECh. 10 - Prob. 10.5BPECh. 10 - Prob. 10.6APECh. 10 - Prob. 10.6BPECh. 10 - Prob. 10.7APECh. 10 - Prob. 10.7BPECh. 10 - Quick ratio Nabors Company reported the following...Ch. 10 - Quick ratio Adieu Company reported the following...Ch. 10 - Current liabilities Bon Nebo Co. sold 25,000...Ch. 10 - Entries for discounting notes payable Griffin...Ch. 10 - Evaluating alternative notes A borrower has two...Ch. 10 - Entries for notes payable A business issued a...Ch. 10 - Entries for discounted note payable A business...Ch. 10 - Prob. 10.6EXCh. 10 - Prob. 10.7EXCh. 10 - Calculate payroll An employee earns 32 per hour...Ch. 10 - Prob. 10.9EXCh. 10 - Prob. 10.10EXCh. 10 - Payroll tax entries According to a summary of the...Ch. 10 - Prob. 10.12EXCh. 10 - Prob. 10.13EXCh. 10 - Prob. 10.14EXCh. 10 - Prob. 10.15EXCh. 10 - Accrued vacation pay A business provides its...Ch. 10 - Pension plan entries Yuri Co. operates a chain of...Ch. 10 - Prob. 10.18EXCh. 10 - Accrued product warranty Lowe Manufacturing Co....Ch. 10 - Prob. 10.20EXCh. 10 - Prob. 10.21EXCh. 10 - Quick ratio Gmeiner Co. had the following current...Ch. 10 - Prob. 10.23EXCh. 10 - Liability transactions The following items were...Ch. 10 - Entries for payroll and payroll taxes The...Ch. 10 - Wage and tax statement data on employer FICA tax...Ch. 10 - Payroll register The following data for Throwback...Ch. 10 - Payroll accounts and year-end entries The...Ch. 10 - Prob. 10.1BPRCh. 10 - Entries for payroll and payroll taxes The...Ch. 10 - Prob. 10.3BPRCh. 10 - Prob. 10.4BPRCh. 10 - Payroll accounts and year-end entries The...Ch. 10 - Prob. 1CPPCh. 10 - Ethics and professional conduct in business Tonya...Ch. 10 - Prob. 10.2CPCh. 10 - Prob. 10.3CPCh. 10 - Prob. 10.5CP
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