Payroll Register and Payroll Journal Entry Mary Losch operates a travel agency called Mary's Luxury Travel. She has five employees, all of whom are paid on a weekly basis. The travel agency uses a payroll register, individual employee earnings records, and a general journal. Mary's Luxury Travel uses a weekly federal income tax withholding table. Refer to Figure 8-4 in the text. The payroll data for each employee for the week ended March 22, 20-, are given. Employees are paid 1% times the regular rate for working over 40 hours a week. No. of Marital Total Hours Name Allowances Status Worked Mar. 16-22 Total Earnings Rate Jan. 1-Mar. 15 Bacon, Andrea 4 M 44 $14.00 $6,300.00 Cole, Andrew 1 S 40 15.00 6,150.00 Hicks, Melvin 3 M 44 13.50 5,805.00 Leung, Cara 1 S 36 14.00 5,600.00 Melling, Melissa 2 M 40 14.50 5,945.00 Social Security tax is withheld from the first $128,400 of earnings at the rate of 6.2%. Medicare tax is withheld at the rate of 1.45%, and city earnings tax at the rate of 1%, both applied to gross pay. Bacon and Leung have $15 withheld and Cole and Hicks have $10 withheld for health insurance. Bacon and Leung have $20 withheld to be invested in the travel agency's credit union. Cole has $38.75 withheld and Hicks has $18.75 withheld under a savings bond purchase plan. Mary's Luxury Travel's payroll is met by drawing checks on its regular bank account. The checks were issued in sequence, beginning with Check No. 423.
Payroll Register and Payroll Journal Entry Mary Losch operates a travel agency called Mary's Luxury Travel. She has five employees, all of whom are paid on a weekly basis. The travel agency uses a payroll register, individual employee earnings records, and a general journal. Mary's Luxury Travel uses a weekly federal income tax withholding table. Refer to Figure 8-4 in the text. The payroll data for each employee for the week ended March 22, 20-, are given. Employees are paid 1% times the regular rate for working over 40 hours a week. No. of Marital Total Hours Name Allowances Status Worked Mar. 16-22 Total Earnings Rate Jan. 1-Mar. 15 Bacon, Andrea 4 M 44 $14.00 $6,300.00 Cole, Andrew 1 S 40 15.00 6,150.00 Hicks, Melvin 3 M 44 13.50 5,805.00 Leung, Cara 1 S 36 14.00 5,600.00 Melling, Melissa 2 M 40 14.50 5,945.00 Social Security tax is withheld from the first $128,400 of earnings at the rate of 6.2%. Medicare tax is withheld at the rate of 1.45%, and city earnings tax at the rate of 1%, both applied to gross pay. Bacon and Leung have $15 withheld and Cole and Hicks have $10 withheld for health insurance. Bacon and Leung have $20 withheld to be invested in the travel agency's credit union. Cole has $38.75 withheld and Hicks has $18.75 withheld under a savings bond purchase plan. Mary's Luxury Travel's payroll is met by drawing checks on its regular bank account. The checks were issued in sequence, beginning with Check No. 423.
College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
22nd Edition
ISBN:9781305666160
Author:James A. Heintz, Robert W. Parry
Publisher:James A. Heintz, Robert W. Parry
Chapter8: Payroll Accounting: Employee Earnings And Deductions
Section: Chapter Questions
Problem 1MP
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Transcribed Image Text:Payroll Register and Payroll Journal Entry
Mary Losch operates a travel agency called Mary's Luxury Travel. She has five employees, all of whom are paid on a weekly basis. The travel agency
uses a payroll register, individual employee earnings records, and a general journal.
Mary's Luxury Travel uses a weekly federal income tax withholding table. Refer to Figure 8-4 in the text. The payroll data for each employee for the
week ended March 22, 20-, are given. Employees are paid 1% times the regular rate for working over 40 hours a week.
No. of Marital
Total Hours
Name
Allowances Status Worked Mar. 16-22
Total Earnings
Rate Jan. 1-Mar. 15
Bacon, Andrea
4
M
44
$14.00
$6,300.00
Cole, Andrew
1
S
40
15.00
6,150.00
Hicks, Melvin
3
M
44
13.50
5,805.00
Leung, Cara
1
S
36
14.00
5,600.00
Melling, Melissa
2
M
40
14.50
5,945.00
Social Security tax is withheld from the first $128,400 of earnings at the rate of 6.2%. Medicare tax is withheld at the rate of 1.45%, and city earnings
tax at the rate of 1%, both applied to gross pay. Bacon and Leung have $15 withheld and Cole and Hicks have $10 withheld for health insurance. Bacon
and Leung have $20 withheld to be invested in the travel agency's credit union. Cole has $38.75 withheld and Hicks has $18.75 withheld under a
savings bond purchase plan.
Mary's Luxury Travel's payroll is met by drawing checks on its regular bank account. The checks were issued in sequence, beginning with Check No. 423.
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