The following data for College Publishing Co. relate to the payroll for the week ended December 7,
Question:
The following data for College Publishing Co. relate to the payroll for the week ended December 7, 2006:
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Employees C and H are office staff and all of the other employees are sales personnel.
All sales personnel are paid 11/2 times the regular rate for all hours in excess of 40 hours per week. The social security tax rate is 6.0% on the first $100,000 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. 981.
Instructions
1. Prepare a payroll register for College Publishing Co. for the week ended December 7, 2006.
2. Journalize the entry to record the payroll for theweek.
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1 PAYROLL FOR WEEK ENDING December 7 2006 Earnings Deductions Paid Accounts Debited Social Federal U...View the full answer
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ISBN: 978-0324188004
21st Edition
Authors: Carl s. warren, James m. reeve, Philip e. fess
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