Instructions Payroll Register and Payroll Journal Entry 1. Prepare a payroll register for Mary's Luxury Travel for the week ended March 22, 20-. (In the Taxable Earnings/Unemployment Compensation column, enter the same amounts as in the Social Security column.) Total the amount columns. Round your answers to the nearest cent. 2. Assuming that the wages for the week ended March 22 were paid on March 24, prepare the journal entry for the payment of the payroll When required, enter amounts in dollars and cents. If an amount box does not require an entry, leave it blank. Mary Losch operates a travel agency called Mary's Luxury Travel. She has five employees, all of whom are paid on a weekly basis. The trave agency uses a payroll register, individual employee earnings records, and a general journal. Mary's Luxury Travel uses a weekly federal income tax withholding table. Refer to Figure 8-4 in the text. The payroll data for each employee for the week ended March 22, 20-, are given below. Employees are paid 17 times the regular rate for working over 40 hours a week No. of Marital Total Hours Total Earnings Name Allowances Status Worked Mar. 16-22 Rate Jan. 1-Mar. 15 Bacon, Andrea $12 $5,480 Cole, Andrew 5,780 Hicks, Melvin 10.5 4,920 3 in 12 3 Feedback Check My Work 2 more Check My Work uses remaining Instructions Payroll Register and Payroll Eny Instructions 3 3 11 Mary's Luxury Travel uses a weekly federal income tax withholding table. Refer to Figure 8-4 in the text. The payroll data for each employee for the week ended March 22, 20-, are given below. Employees are paid 1% times the regular rate for working over 40 hours a week. No. of Marital Total Hours Total Earnings Name Allowances Status Worked Mar. 16-22 Rate Jan. 1 Mar. 15 Bacon, Andrea $12 $5,480 12 Cole, Andrew 5,780 Hicks, Melvin 10.5 4,920 5,052.5 Leung, Cara 10.5 4,728.5 Melling, Melissa Social Security tax is withheld from the first $118,500 of earnings at the rate of 6.2%. Medicare tax is withheld at the rate of 1.45%, and city earnings tax at the rate of 1%, both applied to gross pay. Bacon and Leung have $16 withheld and Cole and Hicks have $7 withheld for health insurance. Bacon and Leung have $20 withheld to be invested in the travel agency's credit union. Cole has $39.25 withheld and Hicks has $17.75 withheld under a savings bond purchase plan. Mary's Luxury Travel's payroll is met by drawing checks on its regular bank account. The checks were issued in sequence, beginning with Check No. 423. 3 General Journal Cross Pay. Deductions and Net Pay instructions Gross Pay, Deductions, and Net Pay Donald Chin works for Northwest Supplies. His rate of pay is $8 per hour, and he is paid 19 times the regular rate for all hours worked in excess of 40 per week. During the last week of January of the current year, he worked 48 hours. Chin is married and claims three withholding allowances on his W-4 form. His weekly wages are subject to the following deductions: a. Employee federal income tax (Tax Tables: Refer to Figure 8-4 in the text.) b. Social Security tax at 6.296 Medicare tax at 1.4596 d. Health insurance premium, $90 e. Credit union, $135 E. United Way contribution, $10 Required: 1. Compute Chin's regular pay, overtime pay, gross pay, and net pay. If required, round your answers to the nearest cent. 2. Journalize the payment of his wages for the week ended January 31, crediting Cash for the net amount. When required, round your General Journal DOC. POST. NO. REF. DEBIT CREDIT DATE ACCOUNT TITLE Wages and salaries expense 1 Mar. 24 X2 Employee federal income tax payable x 3 Social security tax payable Medicare tax payable City tax payable bill1111! Health insurance premiums payable Credit union payable U.S. savings bonds payable Cash Payroll for week ended March 22 Feedback Check My World Previous My Work 2 more Check My Work uses remaining