PR 11-5B Payroll register
The following data for Gridiron Industries, Inc., relate to the payroll for the week ended December 7, 2012:
Employee
Hours
Worked
Hourly
Rate
Weekly
Salary
Federal
Income Tax
U.S. Savings
Bonds
Aikman 50 $26.00 $328.90 $45
Csonka $3,400 731.00 0
Dickerson 35 28.00 186.20 38
Elway 44 34.00 328.44 30
Harris 38 22.00 175.56 45
Motley 2,000 480.00 68
Nagurski 45 26.00 185.25 0
Sanders 45 27.00 282.15 45
Swann 42 25.00 215.00 0
Employees Csonka and Motley 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% of each employee’s annual earnings, and Medicare tax is 1.5% of each employee’s annual earnings. The next payroll check to be used is No. 328.
Instructions
1. Prepare a payroll register for Gridiron Industries, Inc., for the week ended December 7, 2012. Use the following columns for the payroll register: Name, 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. Journalize the entry to record the payroll sales for the week.
Answer:
1. PAYROLL FOR WEEK ENDING December 7, 2012
EARNINGS DEDUCTIONS PAID
ACCOUNTS
DEBITED
Name
Total
Hours Regular Overtime Total
Social
Security
Tax
Medicare
Tax
Federal
Income
Tax
U.S.
Savings
Bonds Total
Net
Pay
Ck.
No.
Sales
Salaries
Expense
Office
Salaries
Expense
Aikman 50 1,040.00 390.00 1,430.00 85.80 21.45 328.90 45.00 481.15 948.85 328 1,430.00
Csonka 3,400.00 204.00 51.00 731.00 986.00 2,414.00 329 3,400.00
Dickerson 35 980.00 980.00 58.80 14.70 186.20 38.00 297.70 682.30 330 980.00
Elway 44 1,360.00 204.00 1,564.00 93.84 23.46 328.44 30.00 475.74 1,088.26 331 1,564.00
Harris 38 836.00 836.00 50.16 12.54 175.56 45.00 283.26 552.74 332 836.00
Motley 2,000.00 120.00 30.00 480.00 68.00 698.00 1,302.00 333 2,000.00
Nagurski 45 1,040.00 195.00 1,235.00 74.10 18.53 185.25 277.88 957.12 334 1,235.00
Sanders 45 1,080.00 202.50 1,282.50 76.95 19.24 282.15 45.00 423.34 859.16 335 1,282.50
Swann 42 1,000.00 75.00 1,075.00 64.50 16.13 215.00 295.63 779.37 336 1,075.00
7,336.00 1,066.50 13,802.50 828.15 207.05 2,912.50 271.00 4,218.70 9,583.80 8,402.50 5,400.00
2. Sales Salaries Expense................................................. 8,402.50
Office Salaries Expense................................................ 5,400.00
Social Security Tax Payable.................................... 828.15
Medicare Tax Payable.............................................. 207.05
Employees Federal Income Tax Payable ............... 2,912.50
Bond Deductions Payable....................................... 271.00
Salaries Payable....................................................... 9,583.80
Employee
Hours
Worked
Hourly
Rate
Weekly
Salary
Federal
Income Tax
U.S. Savings
Bonds
Aikman 50 $26.00 $328.90 $45
Csonka $3,400 731.00 0
Dickerson 35 28.00 186.20 38
Elway 44 34.00 328.44 30
Harris 38 22.00 175.56 45
Motley 2,000 480.00 68
Nagurski 45 26.00 185.25 0
Sanders 45 27.00 282.15 45
Swann 42 25.00 215.00 0
Employees Csonka and Motley 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% of each employee’s annual earnings, and Medicare tax is 1.5% of each employee’s annual earnings. The next payroll check to be used is No. 328.
Instructions
1. Prepare a payroll register for Gridiron Industries, Inc., for the week ended December 7, 2012. Use the following columns for the payroll register: Name, 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. Journalize the entry to record the payroll sales for the week.
Answer:
1. PAYROLL FOR WEEK ENDING December 7, 2012
EARNINGS DEDUCTIONS PAID
ACCOUNTS
DEBITED
Name
Total
Hours Regular Overtime Total
Social
Security
Tax
Medicare
Tax
Federal
Income
Tax
U.S.
Savings
Bonds Total
Net
Pay
Ck.
No.
Sales
Salaries
Expense
Office
Salaries
Expense
Aikman 50 1,040.00 390.00 1,430.00 85.80 21.45 328.90 45.00 481.15 948.85 328 1,430.00
Csonka 3,400.00 204.00 51.00 731.00 986.00 2,414.00 329 3,400.00
Dickerson 35 980.00 980.00 58.80 14.70 186.20 38.00 297.70 682.30 330 980.00
Elway 44 1,360.00 204.00 1,564.00 93.84 23.46 328.44 30.00 475.74 1,088.26 331 1,564.00
Harris 38 836.00 836.00 50.16 12.54 175.56 45.00 283.26 552.74 332 836.00
Motley 2,000.00 120.00 30.00 480.00 68.00 698.00 1,302.00 333 2,000.00
Nagurski 45 1,040.00 195.00 1,235.00 74.10 18.53 185.25 277.88 957.12 334 1,235.00
Sanders 45 1,080.00 202.50 1,282.50 76.95 19.24 282.15 45.00 423.34 859.16 335 1,282.50
Swann 42 1,000.00 75.00 1,075.00 64.50 16.13 215.00 295.63 779.37 336 1,075.00
7,336.00 1,066.50 13,802.50 828.15 207.05 2,912.50 271.00 4,218.70 9,583.80 8,402.50 5,400.00
2. Sales Salaries Expense................................................. 8,402.50
Office Salaries Expense................................................ 5,400.00
Social Security Tax Payable.................................... 828.15
Medicare Tax Payable.............................................. 207.05
Employees Federal Income Tax Payable ............... 2,912.50
Bond Deductions Payable....................................... 271.00
Salaries Payable....................................................... 9,583.80
