payroll example answer 2006
TRANSCRIPT
Part A)
Earnings Taxable EarningsEmployee Hours Regular Overtime Gross FICA SUI
Ames 20 160.00 - 160.00 160.00 -
Baker 48 480.00 144.00 624.00 100.00 -
Cobb 40 400.00 - 400.00 - -
Dunn 44 320.00 48.00 368.00 368.00 368.00
1,360.00 192.00 1,552.00 628.00 368.00
Part B)
Date Accounts / Explanation Debit CreditDec. 29 Sales Salaries Expense 528.00
Office Salaries Expense 1,024.00 FICA Payable 38.94 Medicare Payable 22.51 FWT Payable 206.65 SWT Payable 52.20 Health Ins. Payable 42.00 Caritable Contrib. Payable 30.00 Salaries Payable 1,159.70
6.2% X 1.45% X
Taxable Earnings DeductionsFUI FICA Medicare FWT SWT Health Ins. Other
- 9.92 2.32 9.40 3.60 12.00 -
- 6.20 9.05 92.80 17.20 9.00 10.00
- - 5.80 64.30 14.70 9.00 20.00
200.00 22.82 5.34 40.15 16.70 12.00 -
200.00 38.94 22.51 206.65 52.20 42.00 30.00
Part C)
Date Accounts / Explanation Debit CreditDec. 29 Payroll Tax Expense 79.61
FICA Payable 38.94 Medicare Payable 22.51 SUI Payable (368.00 X 4.5%) 16.56 FUI Payable (200.00 X .8%) 1.60
GROSS PAY
Deductions Accts. DebitedTot. Ded. Net Pay Sales Sal. Office Sal.
37.24 122.76 160.00
144.25 479.75 624.00
113.80 286.20 400.00
97.01 270.99 368.00
392.30 1,159.70 528.00 1,024.00