Excel Instructions using Excel 2010:1. Enter the appropriate numbers/formulas in the shaded (gray) cells. An asterisk (*) will appear to the right of an incorrect answer.

2. A formula begins with an equals sign (=) and can consist of any of the following elements: Operators such as + (for addition), - (for subtraction), * (for multiplication), and / (for division). Cell references, including cell addresses such as B52, as well as named cells and ranges Values and text Worksheet functions (such as SUM)

3. You can enter a formula into a cell manually (typing it in) or by pointing to the cells. To enter a formula manually, follow these steps: Move the cell pointer to the cell that you want to hold the formula. Type an equals sign (=) to signal the fact that the cell contains a formula. Type the formula, then press Enter.

17.65 x 1.5=26.475. The template will display and hold 26.48, not 26.475. There is no need to use Excel's rounding function. EXCEPTION: Continuing Payroll Problems A & B: CHAPTER 2 When calculating over-time rate for weekly salary, round regular rate to TWO decimals BEFORE calculating overtime rate. Rounding can be accomplished by using Number function (using arrows) on Excel Home menu or by entering the formula =(Round(Weekly/40,2))*1.5 (where "Weekly" entered as either the weekly pay or cell reference.) Failure to use the ROUND function will cause the OT rate to be incorrect.

5. Remember to save your work. When saving your workbook, Excel overwrites the previous copy of your file. You can save your work at any time. You can save the file to the current name, or you may want to keep multiple versions of your work by saving each successive version under a different name.To save to the current name, you can select File, Save from the menu bar or click on the disk icon in the standard toolbar. It is recommended that you save the file to a new name that identifies the file as yours, such as Excel_End_of_Chapter_Problems_2012_Your_Name.xlsxTo save under a different name, follow these steps: Select File, Save As to display the Save As Type drop-box, chose Excel Workbook (*.xlsx) Select the folder in which to store the workbook. Enter the new filename in the File name box.

4. Rounding: These templates have been formatted to round numbers to either the nearest whole number or the nearest cent. For example,

Click Save.

1. Enter the appropriate numbers/formulas in the shaded (gray) cells. An asterisk (*) will appear to the right of an incorrect answer.

17.65 x 1.5=26.475. The template will display and hold 26.48, not 26.475. There is no need to use Excel's rounding function.

When calculating over-time rate for weekly salary, round regular rate to TWO decimals BEFORE calculating overtime rate. Rounding can be accomplished by using Number function (using arrows) on Excel Home menu or by entering the formula =(Round(Weekly/40,2))*1.5 (where "Weekly" entered as either the weekly pay or cell reference.)

5. Remember to save your work. When saving your workbook, Excel overwrites the previous copy of your file. You can save your work at any time. You can save the file to the current name, or you may want to keep multiple versions of your work by saving each successive version under a different name.To save to the current name, you can select File, Save from the menu bar or click on the disk icon in the standard toolbar. It is recommended that you save the file to a new name that identifies the file as yours, such as Excel_End_of_Chapter_Problems_2012_Your_Name.xlsx

: These templates have been formatted to round numbers to either the nearest whole number or the nearest cent. For example,

Name:

CAUTION: See "round" rules in Excel Instructions before calculating OT for salaried employees.Enter the appropriate numbers/formulas in the shaded (gray) cells. An asterisk (*) will appear to the right of an incorrect answer.

Continuing Payroll Problem-AKIPLEY COMPANY, INC.

PAYROLL REGISTER FOR PERIOD ENDING January 8, 20 - -

REGULAR EARNINGS OVERTIME EARNINGS DEDUCTIONS

TOTAL FICA

EMPLOYEE AMOUNT AMOUNT EARNINGS OASDI HI

11 Carson, Fran M. S 1 40 $7.50 $300 $300 18.60 4.35 12 Wilson, William A. S 0 40 $7.25 $290 8 $10.88 $87.04 $377.04 23.38 5.47 13 Utley, Harry T. M 2 37.5 $8.10 $303.75 $303.75 18.83 4.40 21 Fife, Lawrence R. M 4 40 $7.90 $316.00 6 $11.85 $71.10 $387.10 24.00 5.61 22 Smith, Lucy K. S 2 40 $9.75 $390 $390.00 24.18 5.66 31 Fay, Gretchen R. M 3 40 $515 1 1/4 $19.32 $24.15 $539.15 33.43 7.82 32 Robey, Glenda B. M 6 40 $392.31 $392.31 24.32 5.69 33 Schork, Thomas K. S 1 40 $542.31 $542.31 33.62 7.86 51 Hardy, Barbara T. M 5 40 $348.46 4 $13.07 $52.28 $400.74 24.85 5.81 99 Kipley, Carson C. M 7 40 $1,000.00 $1,000.00 62.00 14.50 Totals $4,397.83 $234.57 $4,632.40 287.21 67.17

JOURNAL

DATE DESCRIPTION DEBIT CREDIT

MAR

ITAL

ST

ATU

SN

O. O

F W

/H

ALLO

W.

HO

UR

S W

OR

KED

RATE PER HOUR HO

UR

S W

OR

KED

RATE PER HOUR

20--Jan. 12 Wages and Salaries 4,632.40 Net FUTA

FICA Taxes Payable - OASDI 287.21 FICA Taxes Payable - HI 67.17 SUTAEmployees FIT Payable 163.00 Employees SIT Payable 142.21 Employees SUTA Payable 3.69 Employees CIT Payable 138.96 SIMPLE Deductions Payable 440.00 Group Insurance Premiums Collected 6.80 Health Insurance Premiums Collected 16.50 Salaries Payable 3,366.86

Payroll Taxes 562.98 FICA Taxes Payable - OASDI 287.21 FICA Taxes Payable - HI 67.17 FUTA Taxes Payable 37.06 SUTA Taxes Payable 171.54

Salaries Payable 3,366.86 Cash 3,366.86

Jan. 12

Jan. 14

KIPLEY COMPANY, INC.

PAYROLL REGISTER

DEDUCTIONS NET PAY TAXABLE EARNINGS

GROUP HEALTH CHECK

FIT SIT SUTA CIT SIMPLE INSURANCE INSURANCE NO. AMOUNT OASDI HI

18.00 9.21 0.24 9.00 20.00 0.85 1.65 313 218.10 300.00 300.00 35.00 11.58 0.30 11.31 50.00 0.85 1.65 314 237.50 377.04 377.04

9.33 0.24 9.11 40.00 0.85 1.65 315 219.34 303.75 303.75 11.88 0.31 11.61 50.00 0.85 1.65 316 281.19 387.10 387.10

21.00 11.97 0.31 11.70 20.00 1.65 317 293.53 390.00 390.00 13.00 16.55 0.43 16.17 40.00 0.85 1.65 318 409.25 539.15 539.15

12.04 0.31 11.77 50.00 0.85 1.65 319 285.68 392.31 392.31 48.00 16.65 0.43 16.27 60.00 1.65 320 357.83 542.31 542.31

12.30 0.32 12.02 30.00 0.85 1.65 321 312.94 400.74 400.74 28.00 30.70 0.80 30.00 80.00 0.85 1.65 322 751.50 1,000.00 1,000.00 163.00 142.21 3.69 138.96 440.00 6.80 16.50 3,366.86 4,632.40 4,632.40

Taxable Net

Earnings Rate FUTA Tax 4,632.40 0.008 37.06

SUTA Tax 4,632.40 0.03703 171.54

KIPLEY COMPANY, INC.

PAYROLL REGISTER

TAXABLE EARNINGS

FUTA SUTA

300.00 300.00 377.04 377.04 303.75 303.75 387.10 387.10 390.00 390.00 539.15 539.15 392.31 392.31 542.31 542.31 400.74 400.74 1,000.00 1,000.00 4,632.40 4,632.40

Name:

CAUTION: See "round" rules in Excel Instructions before calculating OT for salaried employees.Enter the appropriate numbers/formulas in the shaded (gray) cells. An asterisk (*) will appear to the right of an incorrect answer.

Continuing Payroll Problem-BOLNEY COMPANY, INC.

PAYROLL REGISTER FOR PERIOD ENDING January 8, 20 - -

REGULAR EARNINGS OVERTIME EARNINGS

EMPLOYEE AMOUNT AMOUNT

11 Mangino, R. S 1 40 $ 8.50 340.00 12 Flores, I. S 0 40 $ 9.25 370.00 10 $13.88 138.80 13 Palmetto, C. M 2 38.5 $ 7.80 300.30 21 Waters, R. M 3 40 $ 10.70 428.00 7 $16.05 112.35 22 Kroll, C. S 2 40 $ 13.80 552.00 31 Ruppert, C. M 3 40 800.00 1 1/4 $30.00 37.50 32 Scott, W. M 4 40 780.00 33 Wickman, S. S 1 40 807.69 51 Foley, L. M 5 40 1,038.46 5 $38.94 194.70 99 Olney, M. M 7 40 1,500.00 Totals 6,916.45 483.35

JOURNAL

DATE DESCRIPTION DEBIT20--Jan. 12 Wages and Salaries 7,399.80

FICA Taxes Payable - OASDIFICA Taxes Payable - HIEmployees FIT PayableEmployees SIT PayableEmployees SUTA PayableEmployees CIT PayableSIMPLE Deductions PayableGroup Insurance Premiums CollectedHealth Insurance Premiums CollectedSalaries Payable

MAR

ITAL

ST

ATU

SN

O. O

F W

/H

ALLO

W.

HO

UR

S W

OR

KED

RATE PER HOUR HO

UR

S W

OR

KED

RATE PER

HOUR

Payroll Taxes 899.30 FICA Taxes Payable - OASDIFICA Taxes Payable - HIFUTA Taxes PayableSUTA Taxes Payable

Salaries Payable 5,575.16 Cash

Jan. 12

Jan. 14

Enter the appropriate numbers/formulas in the shaded (gray) cells. An asterisk (*) will appear to the right of an incorrect answer.

OLNEY COMPANY, INC.

PAYROLL REGISTER

DEDUCTIONS

TOTAL FICA

EARNINGS OASDI HI FIT SIT SUTA CIT

340.00 21.08 4.93 24.00 10.44 0.27 3.40 508.80 31.55 7.38 54.00 15.62 0.41 5.09 300.30 18.62 4.35 9.22 0.24 3.00 540.35 33.50 7.84 12.00 16.59 0.43 5.40 552.00 34.22 8.00 45.00 16.95 0.44 5.52 837.50 51.93 12.14 48.00 25.71 0.67 8.38 780.00 48.36 11.31 30.00 23.95 0.62 7.80 807.69 50.08 11.71 88.00 24.80 0.65 8.08 1,233.16 76.46 17.88 88.00 37.86 0.99 12.33 1,500.00 93.00 21.75 99.14 46.05 1.20 15.00 7,399.80 458.80 107.29 488.14 227.19 5.92 74.00

JOURNAL Taxable Net Earnings Rate FUTA Tax

CREDIT Net FUTA 7,399.80 0.008 59.20 SUTA Tax

SUTA 7,399.80 0.03703 274.01 458.80 107.29 488.14 227.19 5.92 74.00 440.00 6.80 16.50 5,575.16

458.79 107.30 59.20 274.01

5,575.16

OLNEY COMPANY, INC.

PAYROLL REGISTER

DEDUCTIONS NET PAY TAXABLE EARNINGS

GROUP HEALTH CHECK

SIMPLE INSURANCE INSURANCE NO. AMOUNT OASDI HI

20.00 0.85 1.65 313 253.38 340.00 340.00 50.00 0.85 1.65 314 342.25 508.80 508.80 40.00 1.65 315 223.22 300.30 300.30 60.00 0.85 1.65 316 402.09 540.35 540.35 20.00 0.85 1.65 317 419.37 552.00 552.00 40.00 0.85 1.65 318 648.17 837.50 837.50 50.00 0.85 1.65 319 605.46 780.00 780.00 50.00 1.65 320 572.72 807.69 807.69 30.00 0.85 1.65 321 967.14 1,233.16 1,233.16 80.00 0.85 1.65 322 1,141.36 1,500.00 1,500.00 440.00 6.80 16.50 5,575.16 7,399.80 7,399.80

OLNEY COMPANY, INC.

PAYROLL REGISTER

TAXABLE EARNINGS

FUTA SUTA

340.00 340.00 508.80 508.80 300.30 300.30 540.35 540.35 552.00 552.00 837.50 837.50 780.00 780.00 807.69 807.69 1,233.16 1,233.16 1,500.00 1,500.00 7,399.80 7,399.80

Chapter 6 Continuing Payroll Problem A

Total net paid $3,366.86 Deductions OASDI $287.21 HI $67.17 FIT $163.00 SIT $142.21 SUTA $3.69 CIT $138.96 Simple deductions $440.00 Group Insurance $6.80 Health Insurance $16.50 $1,265.54 Total earnings $4,632.40

Chapter 6 Continuing Payroll Problem B

Total net paid $5,575.16 Deductions OASDI $458.80 HI $107.29 FIT $488.14 SIT $227.19 SUTA $5.92 CIT $74.00 Simple deductions $440.00 Group Insurance $6.80 Health Insurance $16.50 $1,824.64 Total earnings $7,399.80

Excel InstructionsContinuing Problem-AContinuing Problem-BCH6 Continuing Problem-A&B