Chapter 7 Payroll_Project_2009 Template 092

Chapter 7 Payroll_Project_2009 Template 092 - Group...

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Group Insurance Page 7-7 annual salary 1.500 Bonno, A. 706.000 52.000 36712.000 1.500 55068.000 55000.000 1000.000 Ferguson, J. Ford, C. Mann, D. O'Neill, J. Russell, V. Ryan, N. Sokowski, T. Student Williams, R. New Employee Group Insurance: Wood 11/17 Salary Increases which change insurance Ford 12/4 Russell 12/4 Young 12/4 New Employee Group Insurance: Young Zimmerman If you link to this table and an employee gets a raise do not change this table as it would change an Given Given Given Two Given Rounded Hourly Annual Monthly Weekly Weeks Hourly Calculated Wage Salary Hourly for All Bonno 17.65 17.65 Ferguson 58500.000 1125.000 2250.000 28.130 28.130 Ford Mann O'Neill 60000.000 1153.850 2307.690 28.850 28.850 Russell Ryan Sokowski Student Williams Wood Young Zimmerman PAY INCREASES Ford 12/4 Russell 12/4 November 6th Calculations of Russell's pay for one normal week and another week at 38 hours 38 times 8.630 weekly total Calculations of Williams pay for one normal week and another week at 39 hours weekly salary round to nearest thousand divide by 1000
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39 times weekly total November 20th Calculations of Russell's pay for one normal week and another week at 38 hours 38 times weekly total December 4th Calculation of Wood's pay for one normal week and another week at 32 hours 32.000 times weekly total Calculation for O'Neill's OASDI Taxable Wages Taxable Ceiling for OASDI From the Employees' Earning Record Accumulated Wages before this pay Amount Taxable for OASDI this pay to take O'Neill up to the Ceiling Remember there is no ceiling for HI wages. O'Neill's FIT Calculation Allowance Wage Bonus Value Values minus Wages times Column G Simple Ded. Allowances O'Neill Taxable Bi Weekly Married Exemptions 4
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times .30 55.000 0.300 16.500 16.500 165.90 Check old payroll register Rounded Rounded 1.500 2.000 OT Rate OT Rate 26.480 35.300 42.200 56.260 43.280 57.700 Peggy Berrier: Use 2307.69 as last week for this week an all future weeks.
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Excess Rate Base Amount on Tax Total from table Excess Excess From FIT T2 Excess T2 Tax T2 Tax 15526.320 check but show calculations above
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JOURNAL Page 41 POST. DATE DESCRIPTION REF. DEBIT CREDIT 9 Payroll Cash 12 10,988.49 Cash 11 10,988.49 9 Administrative Salaries 51 2,307.69 Office Salaries 52 3,353.08 Sales Salaries 53 3,600.00 Plant Wages 54 4,902.00 FICA Taxes Payable - OASDI 20.1 878.09 FICA Taxes Payable - HI 20.2 205.37 Employees FIT Payable 24 1,034.00 Employees SIT Payable 25 434.82 Employees SUTA Payable 25.1 8.48 Employees CIT Payable 26 597.52 Union Dues Payable 28 16.00 Payroll Cash 12 10,988.49 9 Payroll Taxes 56 1,231.49 FICA Taxes Payable - OASDI 20.1 878.09 FICA Taxes Payable - HI 20.2 205.36 FUTA Taxes Payable 21 26.24 SUTA Taxes Payable - Employer 22 121.80 Don't forget the entry to pay SIT; check the GL for the balance 20 SIT Payable 25 434.82 Cash 11 434.82 The next entries takes several lines, it is best not to split an entry between pages, so start a new page 20-- Oct. Peggy Berrier: This is the post referen c in the GL this was pos t you post to the GL Peggy Berrier: Note how to add the cred i equal this debit
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JOURNAL Page 42 POST.
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Chapter 7 Payroll_Project_2009 Template 092 - Group...

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