Question: Prepare a payroll register and the journal entry for the payment of the payroll. Register and Payroll Journal Entry Prepare a payroll register for Mary's

Prepare a payroll register and the journal entry for the payment of the payroll.  Prepare a payroll register and the journal entry for the payment

Register and Payroll Journal Entry 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. 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 and cents. If an amount box does not require an entry, leave it blank. Losch operates a travel agency called Mary's Luxury Travel, She has five employees, all of whom are paid on a weekly basis. The travel agency uses a payroll register ividua al employee earnings records, and a general journal. Luxury Travel uses a weekly federal income tax withholding table. Refer to Figure B-4 in the textThe porol 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 Allowances Status Worked Mar. 16-22 Rate Jan. 1-Mar. 15 $5,420 5,720 4,960 5,075.5 4,736.5 Name Bacon, Andrea Cole, Andrew Hicks, Melvin Leung, Cara Melling, Melissa 2 43 36 40 $12 12 10.5 10.5 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 i AS%, and ty eamings tar at the nae ons applied to gross pay. Bacon and Leung have $17 withheld and Cole and Hicks have $5 withheld for health insurance. Bacon and Leung have $21 withheid to be invested in he travel agency's credit union. Cole has $39.25 withheld and Hicks has $19.25 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

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