22. Directions: Gifted Music Store has four employees who are paid on a weekly basis. Each...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
22. Directions: Gifted Music Store has four employees who are paid on a weekly basis. Each is paid time and one-half for working more than 40 hours in any one week. The payroll data for the week ended June 30 is shown below. Use this information to 1. complete the payroll register below and 2. Journalize the payroll entry. Round to the nearest two decimal places, as needed. Total and verify column totals. Federal Cumulative Income Earnings 32.775 00 Number of Marital Total Allowances Status Hours 43 Health United Name Pay Rate Tax Ins urance 16.00 16.00 Way M. K. Blige P.D. Combs D. Drey 28 50 187.00 75.00 IS 50 19 80 22,770.00 23,000.00 39.750.00 125.00 25.00 37 20.00 57.00 32.00 75.00 R. Kelly 40 1.500 per week 190.00 16,00 50.00 Page 3 The cumulative earnings shown above are for the year through last week. The Social Security rate is 6.2% and the Medicare rate is 1.45%. Unemployment compensation earnings for each of the employees is $0.00 for this pay period. Number the checks beginning with 375. PAYROLL REGISTER Earnings Taxalle Earnings Cumulative Unemployment Total Number of Marital Social Allowances Status Regular Overtime Total Compensation Security Name M.K. Blige PD.Combs D.Drey M. R Kelly For the Week Ended 6/30/- United Social Health Total FTT Security Medicare Insurance Way Decuctions Net Pay Check Number 187.00 125.00 57.00 190 00 559.00 Page 1 GENERAL JOURNAL Post Ref. Debit Credit Description Date 30 Jun. 22. Directions: Gifted Music Store has four employees who are paid on a weekly basis. Each is paid time and one-half for working more than 40 hours in any one week. The payroll data for the week ended June 30 is shown below. Use this information to 1. complete the payroll register below and 2. Journalize the payroll entry. Round to the nearest two decimal places, as needed. Total and verify column totals. Federal Cumulative Income Earnings 32.775 00 Number of Marital Total Allowances Status Hours 43 Health United Name Pay Rate Tax Ins urance 16.00 16.00 Way M. K. Blige P.D. Combs D. Drey 28 50 187.00 75.00 IS 50 19 80 22,770.00 23,000.00 39.750.00 125.00 25.00 37 20.00 57.00 32.00 75.00 R. Kelly 40 1.500 per week 190.00 16,00 50.00 Page 3 The cumulative earnings shown above are for the year through last week. The Social Security rate is 6.2% and the Medicare rate is 1.45%. Unemployment compensation earnings for each of the employees is $0.00 for this pay period. Number the checks beginning with 375. PAYROLL REGISTER Earnings Taxalle Earnings Cumulative Unemployment Total Number of Marital Social Allowances Status Regular Overtime Total Compensation Security Name M.K. Blige PD.Combs D.Drey M. R Kelly For the Week Ended 6/30/- United Social Health Total FTT Security Medicare Insurance Way Decuctions Net Pay Check Number 187.00 125.00 57.00 190 00 559.00 Page 1 GENERAL JOURNAL Post Ref. Debit Credit Description Date 30 Jun.
Expert Answer:
Answer rating: 100% (QA)
PAYROLL REGISTER EARNINGS TAXABLE EARNINGS NAME NUMBER OF ALLOWANCES MARITAL STATUS REGULAR OVERTIME ... View the full answer
Related Book For
Financial and managerial accounting
ISBN: 978-1118016114
1st edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Posted Date:
Students also viewed these accounting questions
-
Ethridge Drug Store has four employees who are paid on an hourly basis plus time-and-a-half for all hours worked in excess of 40 a week. Payroll data for the week ended February 15, 2014, are...
-
Yemi??s Drug Store has four employees who are paid on an hourly basis plus time-and a- half for all hours worked in excess of 40 a week. Payroll data for the week ended February 15, 2012, are shown...
-
Graves Drug Store has four employees who are paid on an hourly basis plus time-and a half for all hours worked in excess of 40 a week. Payroll data for the week ended February 15, 2011, are presented...
-
Scandinavo Ltd. is a CCPC that began operations on January 1, 2020 when it was first incorporated and a calendar fiscal period was chosen. Scandinavo Ltd. Is not associated with any other...
-
Explain the differences among budgets, business plans, capital budgets, and scenario plans. For what purposes is one more important than the others?
-
Consider the effect of environmental uncertainty and resource dependence on power and politics in organizations. To what extent are subunit power and organizational politics a function of...
-
Perform economic analysis for the water pitcher product development project in Exercise 5.12. Specifically, determine the investor's rate of return for this product. There is no correct answer to...
-
Briefly describe the elements of a business case for a new information systems project under the SDLC methodology.
-
Using activity-based costing, compute the overhead cost per unit for each model. (Round "Activity Rate" to 2 decim other answers to the nearest whole dollar amount.) Overhead cost per unit-Model X...
-
A village has six residents, each of whom has accumulated savings of $100. Each villager can use this money either to buy a government bond that pays 15 percent interest per year or to buy a year-old...
-
Consider the following second-order differential equation. 3y" + 2y' + y = 0 Find all the roots of the auxiliary equation. (Enter your answer as a comma-separated list.) Find the general solution of...
-
Tatonka Inc. has a stock price of $45 and 50 million shares outstanding in the market. The company's balance sheet lists total equity of $1.5 billion. What is the company's market-to-book ratio?
-
CoursHeroTranscribedText The following class will deadlocked by invoking method t(). Explain Why? class A{ private Semaphore sem; public A(){ sem= new Semaphore(0); } synchronized void t(){ try{ sem....
-
How do we examine the political platforms and policies that are put forward in the two major political parties?
-
At a specific RPM (revolutions per minute) for a diesel engine, a strong resonance at a frequency of 250Hz and wavelength of 2.4 m are observed in the exhaust pipe (pipe with constant cross section)...
-
What are the implications of technological advancements and automation on the future prospects of social mobility, particularly for low-skilled workers ?
-
Do you know someone who acts a lot like Eeyore from Winnie the Pooh? Everything is ho hum, depressing or too hard. Maybe you work with a super happy person who seems to have one setting...shiny! Our...
-
For the following exercises, write the polynomial function that models the given situation. Consider the same rectangle of the preceding problem. Squares of 2x by 2x units are cut out of each corner....
-
On May 10, Romano Corporation issues 1,000 shares of $10 par value ordinary shares for cash at $18 per share. Journalize the issuance of the shares.
-
Match each situation with the fraud triangle factoropportunity, financial pressure, or rationalizationthat best describes it. 1. An employees monthly credit card payments are nearly 75% of his or her...
-
The following reconciling items are applicable to the bank reconciliation for Hinckley Company: (1) Outstanding checks, (2) Bank debit memorandum for service charge, (3) Bank credit memorandum for...
-
Liquid argon has a dielectric constant of 1. 5 . What is the speed of an electromagnetic wave pulse through this medium?
-
What would be the length of a half-wave antenna for a radio station that emits its signal at \(90.5 \mathrm{MHz}\) ?
-
Full-body scanners at airports are sometimes referred to as millimeter-wave scanners and sometimes as terahertz scanners. Does this make sense?
Study smarter with the SolutionInn App