You will create and complete a payroll register for a company called Kipley.

Please use the attached file and complete it for this assignment.

The payroll register assignment has five (5) parts which corresponds to materials discussed in chapters 2-6 of the text:

1. The first part of this assignment is at the end of chapter 2 on page 2-49 under title Continuing Payroll Problem A. Please read the facts of the assignment and check the hints below.
2. Once you complete part 1, go to the end of chapter 3, page 3-76 under Continuing Payroll Problem A and complete the register for the amount of FICA taxes to be withheld from each employees pay for the pay period ending January 8.
3. The next part is at the end of chapter 4, page 4-77.
4. Part 4 of this assignment is at the end of chapter 5, page 5-59.
5. The last part is at the end of chapter 6, page 6-84.

Once you complete all parts, you can submit it on or before the due date noted in Modules Section. Please do not e-mail the assignment. This is not a group assignment. Each individual must turn in his or her own assignment and should not to copy another students spreadsheet. The payroll register assignment is worth 20 points. You may submit this assignment early. Incomplete assignment will receive partial credit. A late assignment will not be accepted. It is extremely important to have a back-up copy of each assignment. To receive full credit for the assignment, you must follow the instructions listed below.

1. Use the formula function of "Excel" to compute an answer. To enter a formula into a cell, place your cursor in that cell and press the equal (=) sign on your keyboard. This sign is located on the top right segment of the keyboard. The equal sign tells the computer that you are entering a formula. You may then add (+), subtract (-), multiply (*), or divide (/) depends on the calculation that needs to be completed. For instance, if you want to add cell E10 to E11, enter =E10+E11. Once you hit the enter key on your keyboard, the two cells will be added. To subtract, enter =E10-E11 and press the enter key. Alternatively, you may wish to use AutoSum function (located on the toolbar) to add up a range of cells. For example, if you want to add two or more cells, place your cursor in the cell that the total needs to appear and click on the AutoSum symbol. A symbol =SUM() will appear. You may then specify the range of the cells that need to be calculated.
2. Round numbers to two decimal points using Excel function. To use the "Round" function, choose Insert from menu bar, click on Function and use round. I suggest you use the round function for all the cells that contain formulas. Also, when appropriate, please add up the numbers on each column using the "Autosum" function of Excel. The use of Round function is important because without this function, you will not arrive at the exact figures for the regular or overtime earnings.
3. Format numbers appropriately, using $ sign, comma style, negative numbers in bracket. In tool bar, choose Format, Cell, Number and see the difference between number and currency options. To format numbers with the $ sign, please highlight the area that you need to format. Then go to the top tool bar and choose Format, Cell. Under number tab, select Currency and choose 2 or 0 as the decimal places.
4. Save each assignment using the problem number "CCP" as the file name.

The spreadsheet assignment that does not follow the above instructions will receive zero or partial credit. It is strongly recommended that you review the accounting concepts, solve the problem manually, and then enter your solution in the blank spreadsheet. This assignment is graded approximately within two days after the due date.

The following are a few tips & reminders when completing this assignment:

Remember to convert the monthly salary rate to a weekly rate. To convert monthly rate to weekly rate, multiply each monthly rate by the fraction 12/52. Make sure to use the Round function of Excel. For example, for employee, Barbara T. Hardy, input the following in a cell of excel spreadsheet: =Round(2510*12/52,2)The result is $579.23

Carson Kipley earns $52,000 per year. Convert his salary to weekly rate by dividing his salary by 52 weeks. Leave the hourly rate blank. For weekly monthly and yearly paid employees, don't need to input the hourly rate in the hourly column. Leave the hourly rate column unfilled for these employees. The only 2 weekly and monthly paid employees that worked overtime are Fay and Hardy, for these 2 employees, you need to calculate hourly rate (but do not enter it in the hourly rate column) so you can arrive at their overtime rate. For Fay, the hourly rate is calculated as follows: $515/40 hours = $12.875 (round the number to 2 decimal places to $12.88.) Or you can use this equation to calculate the overtime rate directly: =ROUND(ROUND(515/40,2)*1.5,2)

1. Use "Autosum" function to arrive at totals for regular earnings, overtime earnings and total earnings.
2. Round numbers to two decimal points using Excel function. To use the "Round" function, choose Insert from menu bar, click on Function and use round. I suggest you use the round function for all the cells that contain formulas. The use of Round function is important because without this function, you will not arrive at the exact figures for the regular or overtime earnings. Please note that the "Round" function is different from formatting to two decimal places.
3. To receive full credit for the assignment, please follow the 5 requirements listed in the syllabus.

• Once you complete part 1, go to page 3-69 of the text under the same title and complete the register for the amount of FICA taxes to be withheld from each employees pay for the pay period ending January 8. Please make sure when you calculate deductions amounts, to format calculations using cell references instead of inputting the value. For example: OASDI tax should be calculated for Carson, F by taking cell that has the total earnings $700.00 x 6.2% instead of just inputting the amount of $43.40.
• The next part is on page 4-69. Please note that the Simple Deduction reduces total earnings amount that is subject to federal income tax. For example, for employee, William Wilson, the total earnings of $897.04 is reduced by the $50 Simple Deduction to arrive at $847.04. Then you can look up the amount of withholding in the Wage-Bracket Withholding Tables at the end of the textbook. Please see explanations for "Pretax Salary Reductions" at page 4-6. Simple Deductions is a form of pretax salary reductions.

To calculate OASDI, HI, SIT and CIT, please use the total earnings amount without reduction for simple deduction.

• Part 4 of this assignment is on page 5-59. The instructions on this page does not do a good job in stating that you also need to calculate employee's SUTA and include it as one of the columns of payroll register. Please calculate employee's SUTA deduction by performing the following calculation: Employee's gross pay x 0.0006 (0.06%)
• Also, page 5-59 has a typo. It should say, "FUTA and SUTA for the pay of January 8th and not January 14."
• The last part is on page 6-84. For requirement #5 in Chapter 6, please use the proof the accuracy of the column totals in the attached spreadsheet:

Question 6, Part (a) should state, Prepare the journal entries for payroll and payroll taxes for the week ending January 8th." There are two journal entries for part (a) that you need to prepare for this part. One relates to debiting Wages and Salaries and the other journal entry for part (a) is calculating and journalizing employer's payroll taxes, which includes FICA (OASDI and HI), FUTA and SUTA.

• For part b, you need to prepare one journal entry that shows the salaries payable (from part a entry) has been paid on January 14th.
• Save the solution. Please make sure that the file name has no space or special symbols in between or it cannot be uploaded
• Close the saved file.
• Go back to "Modules" in Canvas.
• Click on Payroll Register Assignment and attach your file.

Check figures:

Regular earnings- Total: $7,065.14

Overtime earnings-Total: $479.17

CH 3:

OASDI Tax- Total: $467.75

HI Tax Total: $109.40

Ch 4:

FIT-Total: $358.00

SIT-Total: $231.61

SUTA Total: $4.52

CIT Total: $226.31

Ch5:

Net FUTA tax: $45.27

SUTA tax: $278.31

Ch 6:

Group Insurance Total: $6.80

Health Insurance Total: $16.50

Net pay: $5,683.42