Stephanie Parker is a salaried, nonexempt administrator for Forise Industries and is paid biweekly. Her annual salary is $66,800, and her standard workweek is 45 hours. During the pay period ending February 5, 2021, she worked 8 hours overtime. She is married filing jointly with two dependents under the age of 17. Required: Complete the following payroll register for Stephanie's pay. (Do not round intermediate calculations. Round your final answers to 2 decimal places.) Company Name Stephanie Parker Forise Industries Filing Status Dependents Annual salary Period Salary $ 2,569.23 Hourly Rate Overtime Rate Period Ended: Number of Number of Regular Overtime Hours Hours 2/5/2021 Regular Overtime Gross Earnings Earnings Earnings

Stephanie Parker is a salaried, nonexempt administrator for Forise Industries and is paid biweekly. Her annual salary is $66,800, and her standard workweek is 45 hours. During the pay period ending February 5, 2021, she worked 8 hours overtime. She is married filing jointly with two dependents under the age of 17. Required: Complete the following payroll register for Stephanie's pay. (Do not round intermediate calculations. Round your final answers to 2 decimal places.) Company Name Stephanie Parker Forise Industries Filing Status Dependents Annual salary Period Salary $ 2,569.23 Hourly Rate Overtime Rate Period Ended: Number of Number of Regular Overtime Hours Hours 2/5/2021 Regular Overtime Gross Earnings Earnings Earnings

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter11: Current Liabilities And Payroll

Section: Chapter Questions

Problem 4PA

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You have been asked to record the November payroll information using a payroll register and a general journal. Review the printout of the worksheet PR, a computerized payroll register, that follows these requirements. The columns will automatically retotal as new entries are made. Entries in column B indicate whether or not employees are union members. Assume Joness cumulative gross pay at October 31 could be 85,000, or 105,000, or 125,000.
In the space provided below, prepare the journal entry to record the November payroll for all employees assuming that the payroll is paid on November 30 and that Joness cumulative gross pay (cell I13) is 85,000.
JOURNAL ENTRIES FOR PAYMENT OF EMPLOYER PAYROLL TAXES Angel Ruiz owns a business called Ruiz Construction Co. He does his banking at Citizens National Bank in Portland, Oregon. The amounts in his general ledger for payroll taxes and the employees withholding of Social Security, Medicare, and federal income tax payable as of April 15 of the current year are as follows: Journalize the quarterly payment of the employee federal income taxes and Social Security and Medicare taxes on April 15, 20--, and the payments of the FUTA and SUTA taxes on April 30, 20--.
Click the Chart sheet tab. On the screen is a chart of the four payroll taxes that a company might incur in total during the year. The four taxes are federal unemployment, state unemployment, Social Security, and Medicare. By the behaviors shown on the chart, identify below which of the four taxes each represents. Series 1 _____ Series 2 _____ Series 3 _____ Series 4 _____ When the assignment is complete, close the file without saving it again. TICKLERS (optional) Worksheet. A new employee was hired during November and was mistakenly omitted from the payroll register. The employees last name is Zuckerman, and his gross pay for November is 1,300. Add the new employee to the PR5 worksheet and include all standard withholding rates in computing net pay. Federal income tax withheld is 101. He is a union member. Preview the printout to make sure that the worksheet will print neatly on one page, and then print the worksheet. Save the completed file as PRT. Chart. Using the PR4 file, prepare a 3-D pie chart to show the percentage of an employees gross pay that is withheld for taxes, Social Security, and so on, and how much is left over as net pay. Use Smith as your example. Complete the Chart Tickler Data Table and use it as a basis for preparing the chart. Enter your name somewhere on the chart. Save the file again as PR4. Print the chart.
JOURNAL ENTRIES FOR PAYMENT OF EMPLOYER PAYROLL TAXES Francis Baker owns a business called Baker Construction Co. She does her banking at the American National Bank in Seattle, Washington. The amounts in her general ledger for payroll taxes and employees withholding of Social Security, Medicare, and federal income tax payable as of July 15 of the current year are as follows: Journalize the quarterly payment of the employee federal income taxes and Social Security and Medicare taxes on July 15, 20--, and the payments of the FUTA and state unemployment taxes on July 31, 20--.
Lauprechta Incorporated has the following employees on payroll. Assume that all the employees has only one job or that step 2 of Form W-4 is not checked and all dependents are under the age of 17. Also, the employer uses the Percentage Method Tables for Manual Payroll Systems with Forms W-4 from 2020 or Later. Use percentage method tables for a manual payroll systems. Semimonthly Payroll Number of Dependents from Form W-4 Marital Status Naila $ 6,140 3 Married Wilfred $ 5,440 2 Married Byron $ 4,040 0 Single Annie $ 4,430 1 Head of Household Required: Complete the table for taxes to be withheld for each pay period.
Lauprechta Incorporated has the following employees on payroll. Assume that all the employees has only one job or that step 2 of Form W-4 is not checked and all dependents are under the age of 17. Also, the employer uses the Percentage Method Tables for Manual Payroll Systems with Forms W-4 from 2020 or Later. Use percentage method tables for a manual payroll systems. Semimonthly Payroll Number of Dependents from Form W- Marital 4 Status Naila Wilfred Byron $ 6,200 3 Married $ 5,500 2 Married $ 4,100 0 Single Head of Annie $ 4,700 1 Household Required: Complete the table for taxes to be withheld for each pay period. Note: Round your intermediate computations and final answers to 2 decimal places. Employee Federal Withholding Tax Social Security Tax Total Taxes Medicare Tax Withheld Naila $ 0.00 Wilfred $ 0.00 Byron $ 0.00 Annie $ 0.00