Journal entry Complete the following Prepare the journal entries as of January 12 to record the payroll taxes for the week ending January 8. Credit salaries payable for the total net pay. Prepare the journal entry to record the payment of the payroll on January 14 when the paychecks are distributed to all workers
Journal entry Complete the following Prepare the journal entries as of January 12 to record the payroll taxes for the week ending January 8. Credit salaries payable for the total net pay. Prepare the journal entry to record the payment of the payroll on January 14 when the paychecks are distributed to all workers
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![Completing the Payroll Register
The Employee Payroll Register presents all the computations previously performed as it applies to this payroll period.
Complete the following steps (if a field should be blank, leave it blank):
1. Record the amount to be withheld for group insurance.
2. Record the amount to be withheld for health insurance.
3. Each worker is to be paid by check. Assign check numbers provided to the correct employee.
4. Compute the net pay for each employee.
5. Total the input columns.
KIPLEY COMPANY, INC.
Payroll Register
For Period Ending January 8, 20--
EARNINGS
DEDUCTIONS
NET PAY
Name
Gross
OASDI
HI
FIT
SIT
SUTA
CIT
SIMPLE
Grp. Ins.
Health Ins.
Ck. No.
Amount
$43.40
$10.15
$21.00
1.65
Carson, F.
$700.00
$60.00
$21.49
s0.42
$20.00
0.85
313
521.04
Wilson, W.
897.04
55.62
13.01
91.00
27.54
0.54
26.91
50.00
0.85
1.65
314
629.92
678.75
25.00
20.84
0.41
40.00
0.85
1.65
315
517.72
20.36
Utley, H.
42.08
9.84
877.10
28.00
0.53
50.00
0.85
1.65
316
675.73
Fife, L.
54.38
12.72
26.93
26.31
0.47
598.49
Smith, L.
61.00
24:25
23.70
20.00
0.00
1.65
317
790.00
48.98
11.46
16.17
33.43 7.82
0.32
40.00
0.85
1.65
318
419.36
3.00
16.55
Fay, G.
539.15
0.37
38.63
18.69
50.00
0.85
1.65
319
484.73
Robey, G.
623.08
9.03
19.13
0.46
60.00
320
540.91
Schork, T.
773.08
11.21
64.00
23.73
23.19
0.00
1.65
47.93
0.40
29.98
30.00
0.85
1.65
321
540.82
666.11
41.30
9.66
1.00
20.45
Hardy, B.
766.70
80.00
1.65
322
13.00
0.60
30.00
0.85
62.00
30.70
Kipley. C
1,000.00
14.50
16.5
$ 5,695.42
$4.52
$440.00
$226.31
6.8
7,544.31
$467.75 s109.40 $346.00 s231.61
Totals
All work saved.
99+
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Transcribed Image Text:Completing the Payroll Register
The Employee Payroll Register presents all the computations previously performed as it applies to this payroll period.
Complete the following steps (if a field should be blank, leave it blank):
1. Record the amount to be withheld for group insurance.
2. Record the amount to be withheld for health insurance.
3. Each worker is to be paid by check. Assign check numbers provided to the correct employee.
4. Compute the net pay for each employee.
5. Total the input columns.
KIPLEY COMPANY, INC.
Payroll Register
For Period Ending January 8, 20--
EARNINGS
DEDUCTIONS
NET PAY
Name
Gross
OASDI
HI
FIT
SIT
SUTA
CIT
SIMPLE
Grp. Ins.
Health Ins.
Ck. No.
Amount
$43.40
$10.15
$21.00
1.65
Carson, F.
$700.00
$60.00
$21.49
s0.42
$20.00
0.85
313
521.04
Wilson, W.
897.04
55.62
13.01
91.00
27.54
0.54
26.91
50.00
0.85
1.65
314
629.92
678.75
25.00
20.84
0.41
40.00
0.85
1.65
315
517.72
20.36
Utley, H.
42.08
9.84
877.10
28.00
0.53
50.00
0.85
1.65
316
675.73
Fife, L.
54.38
12.72
26.93
26.31
0.47
598.49
Smith, L.
61.00
24:25
23.70
20.00
0.00
1.65
317
790.00
48.98
11.46
16.17
33.43 7.82
0.32
40.00
0.85
1.65
318
419.36
3.00
16.55
Fay, G.
539.15
0.37
38.63
18.69
50.00
0.85
1.65
319
484.73
Robey, G.
623.08
9.03
19.13
0.46
60.00
320
540.91
Schork, T.
773.08
11.21
64.00
23.73
23.19
0.00
1.65
47.93
0.40
29.98
30.00
0.85
1.65
321
540.82
666.11
41.30
9.66
1.00
20.45
Hardy, B.
766.70
80.00
1.65
322
13.00
0.60
30.00
0.85
62.00
30.70
Kipley. C
1,000.00
14.50
16.5
$ 5,695.42
$4.52
$440.00
$226.31
6.8
7,544.31
$467.75 s109.40 $346.00 s231.61
Totals
All work saved.
99+
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![HI at 1.45%% on total earnings
-FUTA at 0.6% on the first $7,000
SUTA aL 3.6890% on the first $10,000
Enter the Employer's total payroll taxes for the pay period ending auary 8, 20..
KIPLEY COMPANY, INC.
Taxable Earnings
Payroll Taxes
Taxable Earnings
Payroll Taxus
OASDI
HI
FUTA
SUTA
Totals
57,544.31
5,695.42
S467.75
$109.39
$45.27
$278.31
Journal Entry: Recording Payroll
Journal Entry: Recording Payroll
Comphete the folkowing
Prepar u lhw joun al entrs as of January 12 ta record the pavroll and the payroll laxs for the wouk ending January 8. Credit Salanes Pavable for the total nit pay.
Date
Account
Debit
Credit
20 Jan. 12
To record payrull.
20 Jan. 12
To tand payul tas
Jourw Ertrv. Payros Diton
Journal Entry: Payroll Distribution
All work awvwu
99+
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Transcribed Image Text:HI at 1.45%% on total earnings
-FUTA at 0.6% on the first $7,000
SUTA aL 3.6890% on the first $10,000
Enter the Employer's total payroll taxes for the pay period ending auary 8, 20..
KIPLEY COMPANY, INC.
Taxable Earnings
Payroll Taxes
Taxable Earnings
Payroll Taxus
OASDI
HI
FUTA
SUTA
Totals
57,544.31
5,695.42
S467.75
$109.39
$45.27
$278.31
Journal Entry: Recording Payroll
Journal Entry: Recording Payroll
Comphete the folkowing
Prepar u lhw joun al entrs as of January 12 ta record the pavroll and the payroll laxs for the wouk ending January 8. Credit Salanes Pavable for the total nit pay.
Date
Account
Debit
Credit
20 Jan. 12
To record payrull.
20 Jan. 12
To tand payul tas
Jourw Ertrv. Payros Diton
Journal Entry: Payroll Distribution
All work awvwu
99+
O Type here to search
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