Question: Using the provided template complete the Payroll Register for the week of Oct 4-17 for Bonneau Enterprises. All employees are paid on a biweekly basis
Using the provided template complete the Payroll Register for the week of Oct 4-17 for Bonneau Enterprises.
All employees are paid on a biweekly basis and according to their W-4 are all married and do not request any additional withholding (Use the tables that start on page 11 of the Pub 15-T that is posted under the Chapter 12 Module). Each employee has requested that 5% of their pay is withheld for the retirement plan.
The employees with an hourly rate are the Sales reps and those earning a salary are the Office staff.
The merit rating for SUTA is 4.8%.
Prepare the necessary journal entries.
OT Reg Earnings Total Earnings Sales Sal Exp Office Sal Exp Total Deductions Net Pay Name YTD Hours Rate Salary Earnings FIT FICA-OASDI FICA-Med Retirement FICA-OASDI FICA-Med FUTA SUTA Abbott 5,000.00 45 $62.00 Adams 72,000.00 1,800 Cross 77,800.00 36 $54.00 Johnson 78,400.00 35 $56.00 Jones 101,680.00 41 $62.00 May 134,400.00 48 $70.00 Peters 80,000.00 2,000 Smith 125,120.00 46 $68.00 104,160.00 42 $62.00 Tell Totals OT Reg Earnings Total Earnings Sales Sal Exp Office Sal Exp Total Deductions Net Pay Name YTD Hours Rate Salary Earnings FIT FICA-OASDI FICA-Med Retirement FICA-OASDI FICA-Med FUTA SUTA Abbott 5,000.00 45 $62.00 Adams 72,000.00 1,800 Cross 77,800.00 36 $54.00 Johnson 78,400.00 35 $56.00 Jones 101,680.00 41 $62.00 May 134,400.00 48 $70.00 Peters 80,000.00 2,000 Smith 125,120.00 46 $68.00 104,160.00 42 $62.00 Tell Totals
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