Alvamar Company has the following data for the weekly payroll ending January 31 Employees are paid 112

Question:

Alvamar Company has the following data for the weekly payroll ending January 31

Federal Income Tax Withholding Hours Health Insurance Hourly Rate Employee M. Hashmi E. Benson K. Kern M т т 3 8. 10 2

Employees are paid 11⁄2 times the regular hourly rate for all hours worked in excess of 40 hours per week. FICA taxes are 8% on the first $100,000 of gross earnings. Alvamar Company is subject to 5.4% state unemployment taxes and 0.8% federal unemployment taxes on the first $7,000 of gross earnings.

Instructions

(a) Prepare the payroll register for the weekly payroll.

(b) Prepare the journal entries to record the payroll and Alvamar’s payroll tax expense.

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Related Book For  book-img-for-question

Accounting Principles

ISBN: 978-0470533475

9th Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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