Instructions: 1) use the information in Part A to complete the Payroll Register Table in Part B. Remember to use formulas when there is a calculation/cell reference.

2) Using the information in the Payroll Register, complete January & December journal entries for both employee wages/withholdings and employer only taxes (use cell references).

NOTE: In the pink cells, we have provided you with the formulas for the first period. Because there is no data in the cells as you begin the assignment, the result of the calculation is 0.

As you complete the rest of the table, you will see the results in the pink cells change. You will need to copy the formulas in these January cells from the first period into the subsequent periods.

Part A Tax Rates and Maximum Taxable Amounts: Social Security - FICA (OASDI) Social Security - Medicare Unemployment-FUTA Unemployment- SUTA Information for Employee Irma Wellpaid: Monthly gross pay Monthly tax table Monthly health insurance Monthly life insurance Montly retirement savings Part B: Payroll Register Month January February March April tax rate May June July August September October November December Total Federal State 6.20% 1.45% 0.6% 5.4% Cumulative gross pay Calendar year-to-date annual salary of employee subject to tax $142,800 all $7,000 $7,000 $13,500 $3,425 $800 $750 $100 $2,500 Gross pay subject to Social Sec. $0 $0 $0 $0 $0 $0 $0 $0 $0 888 8 Name M Gr S Health Life Insurance Insurance Retirement Total with- Premium Premium savings holdings Net pay Payroll subject to unem- ployment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Monthly tax FUTA Monthly tax SUTA $0 $0 $0 $0 $0 $0 SO $0 $0 $0 $0 888 Name: Monthly Gross pay Irma Wellpaid Soc. Sec. tax Medicare tax Federal income Tax Withholdings State income tax Health Life Insurance Insurance Retirement Premium Premium savings DO $0 $0 $0 $0 $0 $o SO SO $0 $0 $0 $0 SO Name: Monthly Gross pay Irma Wellpaid Soc. Sec. tax Medicare tax Federal income Tax Withholdings State income tax Health Life Insurance Insurance Retirement Premium Premium savings Part A Tax Rates and Maximum Taxable Amounts: Social Security - FICA (OASDI) Social Security - Medicare Unemployment-FUTA Unemployment- SUTA Information for Employee Irma Wellpaid: Monthly gross pay Monthly tax table Monthly health insurance Monthly life insurance Montly retirement savings Part B: Payroll Register Month January February March April tax rate May June July August September October November December Total Federal State 6.20% 1.45% 0.6% 5.4% Cumulative gross pay Calendar year-to-date annual salary of employee subject to tax $142,800 all $7,000 $7,000 $13,500 $3,425 $800 $750 $100 $2,500 Gross pay subject to Social Sec. $0 $0 $0 $0 $0 $0 $0 $0 $0 888 8 Name M Gr S Health Life Insurance Insurance Retirement Total with- Premium Premium savings holdings Net pay Payroll subject to unem- ployment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Monthly tax FUTA Monthly tax SUTA $0 $0 $0 $0 $0 $0 SO $0 $0 $0 $0 888 Name: Monthly Gross pay Irma Wellpaid Soc. Sec. tax Medicare tax Federal income Tax Withholdings State income tax Health Life Insurance Insurance Retirement Premium Premium savings DO $0 $0 $0 $0 $0 $o SO SO $0 $0 $0 $0 SO Name: Monthly Gross pay Irma Wellpaid Soc. Sec. tax Medicare tax Federal income Tax Withholdings State income tax Health Life Insurance Insurance Retirement Premium Premium savings