Chapter 7 Payroll_Project_2009 Shenita Book

Chapter 7 Payroll_Project_2009 Shenita Book - 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. 1125.000 52.000 58500.000 1.500 87750.000 88000.000 1000.000 Ford, C. 450.000 52.000 23400.000 1.500 35100.000 35000.000 1000.000 Mann, D. 675.000 52.000 35100.000 1.500 52650.000 53000.000 1000.000 O'Neill, J. 1153.846 52.000 60000.000 1.500 90000.000 90000.000 1000.000 Russell, V. 345.000 52.000 17940.000 1.500 26910.000 27000.000 1000.000 Ryan, N. 720.000 52.000 37440.000 1.500 56160.000 56000.000 1000.000 Sokowski, T. 1025.000 52.000 53300.000 1.500 79950.000 80000.000 1000.000 Student 270.000 52.000 14040.000 1.500 21060.000 21000.000 1000.000 Williams, R. 611.538 52.000 31800.000 1.500 47700.000 48000.000 1000.000 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 36712 706 1412 17.65 17.65 17.65 Ferguson 58500.000 1125.000 2250.000 28.130 28.130 Ford 23400.000 1950.000 450.000 900.000 11.250 11.250 Mann 35100.000 2925.000 675.000 1350.000 16.880 16.880 O'Neill 60000.000 1153.850 2307.690 28.850 28.850 Russell 17940.000 1495.000 345.000 690.000 8.630 8.630 Ryan 37440.000 720.000 1440.000 18.000 18.000 18.000 Sokowski 53300.000 1025.000 2050.000 25.630 25.630 Student 14040.000 270.000 540.000 7.500 7.500 7.500 Williams 31800.000 2650.000 611.538 1223.080 15.290 15.290 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 1950 2925 1495 2650 88.000 0.300 26.400 12 12 12 12 35.000 0.300 10.500 23400 35100 17940 31800 53.000 0.300 15.900 90.000 0.300 27.000 27.000 0.300 8.100 56.000 0.300 16.800 80.000 0.300 24.000 21.000 0.300 6.300 48.000 0.300 14.400 165.900 165.90 Check old payroll register Rounded Rounded 1.500 2.000 OT Rate OT Rate 26.480 35.300 42.200 56.260 16.880 22.500 25.320 33.760 43.280 57.700 12.950 17.260 27.000 36.000 38.450 51.260 11.250 15.000 22.940 30.580 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.
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This note was uploaded on 06/30/2010 for the course CINS 8009 taught by Professor Jadams during the Spring '09 term at Ivy Tech Community College.

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Chapter 7 Payroll_Project_2009 Shenita Book - Group...

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