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October $2023$

Lolita's Lovely Locks

Comprehensive Payroll Rroject

Project Narrative

Module $9$ Instructions

NOTE: This is a continuation of the project completed in Module $8.$ You must complete the September transactions prior to beginning this part of the project. Additionally, review your instructor's feedback and make corrections to the September transactions if necessary.

Introduction

The Comprehensive Payroll Project reinforces the concepts covered in this class. In this assignment you will compute earnings, payroll deductions, payroll tax expense, prepare accounting entries and payroll reports and forms. This project is extensive and time consuming and will be completed in two parts in Modules $8$ and $9.$

In Module $8,$ you will complete one month $($September$)$ and the quarterly reports for that first month of operations. This will be submitted as a mid$-$point check to ensure you are completing calculations and forms correctly before moving on to the remainder of the project.

Then in Module $9,$ you will complete the final quarter $($October$-$December$)$ and the quarterly and annual reports.

The Company

On September $1,$ Lolita L$.$ Lovely established a hair salon which she named Lolita's Lovely Locks. Her business is organized as a corporation. The business provides haircuts, hair styling, and hair grooming for both men and woman.

Company Address:

$8500$ Dodge St$.$

Omaha, NE $68105$

Tax Identification

Federal Tax ID $($EIN$)$: $47-3882497$

Nebraska State ID: $123456$

Employees and Employee Benefits