The payroll using the Time Clerk 's Report Nos 46 and 47 Note Thursday, November 26, is a paid holiday for all workers Complete the Payroll Register journalize transfer of cash to the Payroll Cash account, the payroll entry, and payroll tax entry post the amounts to the General Ledger accounts and ...

Net pay for Joseph T ONeill for week ending December 26 Regular earnings 40 hrs x 50hr 2000 Overtime ...

The payroll using the Time Clerk's Report Nos. 46 and 47. Note: Thursday, November 26, is a

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The payroll using the Time Clerk's Report Nos. 46 and 47. Note: Thursday, November 26, is a paid holiday for all workers. Complete the Payroll Register; journalize transfer of cash to the Payroll Cash account, the payroll entry, and payroll tax entry; post the amounts to the General Ledger accounts; and update the Employees' Earnings Records.
1. Increase the union dues to $9 each pay on Bonno's and Ryan's earnings records. This change is effective on the last pay of the year (December 18).
December 9
1. Pay the union treasurer the amount of union dues withheld during the month of November.
December 11
1. The Payroll Department was informed Virginia Russell died in an automobile accident on the way home from work on Thursday, December 10.
December 14
1. A special payroll needs to be completed to process Russell's final paycheck made payable to the Estate of Virginia
  
  A. Russell.
  - This check covers Russell's work for the weeks ending December 5 and 12 ($1,134.00) plus her accrued vacation pay ($1,260.00). Do not show the vacation hours in the Time Record columns on the payroll register, but include them in the Regular Earnings column.
  - Russell's final biweekly pay is subject to FICA, FUTA, and SUTA. This final pay is not subject to FIT, SIT, or CIT. Since Russell's cumulative earnings have surpassed the taxable earnings figures for FUTA and SUTA, there will not be any unemployment tax on the employer.
  - The deduction for group insurance is $14.70 [($49,000/$1,000) × $.30].
  - Make a notation of Russell's death on the Payroll Register and her Employee's Earnings Record.
  - all the entries for the special pay; post to the General Ledger accounts and Employees' Earnings Records.
  - If required by your instructor complete:
2. Form W-2 (Transaction No. 21): Include the final gross pay in Boxes 3 and 5, but not in Boxes 1, 16, and 18. This Form W-2 will be given to the executor of the estate along with the final paycheck. Russell's address is 8004 Dowling Road, Philadelphia, PA 19135-9001.
- Form 1099-MISC and Form 1096 (Transaction No. 38 and No. 39) will be completed in February before their due date to report the last wage payment and vacation pay ($2,394.00).
December 15
1. Electronically deposit the amount of FICA taxes and federal income taxes for the November payrolls. (Transaction No. 22)
2. Deposit with the city of Philadelphia the amount of city income taxes withheld for the November payrolls. (Transaction No. 23)
December 18
1. Deposit with the state of Pennsylvania the amount of state income taxes withheld from the December 4 payroll. (Transaction No. 24)
2. Glo-Brite received notification there will be no premium charge for the month of December on the policy for Virginia Russell. Prepare an entry for a check payable to the estate of Virginia
  
  A. Russell for the amount withheld for insurance from her December pay.
3. an employee's earnings record for Richard Lloyd Zimmerman who was employed starting today to take Virginia Russell's place.

Richard Lloyd Zimmerman	Married filing jointly (MFJ)
900 South Clark Street	$2,600 per month
Philadelphia, PA 19195-6247	$600.00 per week
Phone: 555-2104	$15.00 per hour
Soc. Sec. No.: 000-00-1502	Group ins.: $47,000 beginning next year
Department: Office	Position: Time Clerk

Using the information from the Time Clerk's Report Nos. 48 and 49, the last pay for December and record the paychecks issued all employees. Also, record the employer's payroll taxes.

. In this pay, O'Neill is paid his annual bonus of $95,000. This does not affect his group insurance coverage. For withholding purposes, the bonus is considered a supplemental payment and taxed at the supplemental rate of 22 percent.
. O'Neill changed his SIMPLE contribution this pay to $2,000, which will reduce his salary for federal income tax purposes.
- To determine federal income tax on the remaining taxable portion of his regular salary, use the Wage Bracket Method Tables for Manual Payroll Systems With Forms W-4 From 2020 or Later - Biweekly Payroll Period - Standard columns. In calculating the tax, do not round the aggregate to the nearest earnings dollar.
Picture of Biweekly Payroll Period down below
What is the net pay for Joseph T. O'Neill?
What is the amount of OASDI withheld for Norman
What is the total net pay for all employees?
What is the total CIT withheld for all employees?
What is the amount of the debit to Employees SIT Payable on December 3?
What is the amount of the credit to Employees FIT Payable?
What is the amount of the debit to Payroll Taxes?
What is the balance of SUTA Taxes Payable—Employer?
What is the balance of Employees CIT Payable?
What is the Cash account balance?