Payroll Accounting Chapter 7 Project Essay

Part IV: Prepare a Bank Deposit Prepare a bank deposit detail for a $2230.00 deposit. Use the information in questions 31 to 34. Record your answers on the figure in Work Product 22-1. 31. Cash receipts total $646.68; $2.68 was in coins. 32. Check payments were #2387 for $67.00 from Sue Patrick and #460 for $50.00 from Ronald Rodriguez. 33. Credit card payments were $25.00 and $67.00. Pam Adtkins paid the $25.00 payment, and Brad Wilson paid the $67.00 payment. 34. An insurance payment for Alejandro Sanchez arrived in the amount of $1374.32. The payment was from Aetna and was check #309.

• It is discovered that $10,000 cash received during the year and credited to sales are actually related to services to be delivered in July 2014. • $5,000 of wages relating to June 2014 have not been paid and need to be accrued. Part A (12 Marks) Prepare journal entries for the necessary end of period adjustments. Debit Credit

Account Title Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Payroll Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . FICA Taxes Payable—OASDI . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . FICA Taxes Payable—HI . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . FUTA Taxes Payable. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . SUTA Taxes Payable—Employer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

The checking and saving account changed from the previous figure due to bills. The checking account was at $551.72 and Brother Cuntry had to transfer a $1,000.00

This is a receipt for Alethea Fears in the amount $250.00 that was given on _____________ for a deposit on the facility at 2800 Campbelton Road for the event on August 01, 2015. However, the agreement of the $250.00 was not discussed, as it relate to repayment. Furthermore, after discussed with Alethea Fears a week prior to the event. Ms Fears, stated that she would like to use the $250.00 toward previous and future monthly dues. The records show last payment received from Ms. Fear May 20, 2015 for $50.00 that paid for February and March 2015, remaining balance of four months including August 2015 is $125.00, the credit brought forward of $125.00 will pay September thru January 2016 as of current monthly dues amount of $25.00. The monthly

| i RM 443000 AP 443000 ii wip 435000 moh 15000 rm 380000 iii wip 229000 moh 54000 Amin Sal 117000 S & W pay 400000 iv moh 119000 ap 119000 v. mfo 121000 deo exp 121000 vi moh ap vii moh 910000 ap 910000 xiv fg 895000 wip278000 cash 1173000

This chapter shows much about payroll, it has many different ideas in how our pay check stubs are reduced. Gives an understanding of how much we can pay in taxes, due to social security, medicare and many more. For those employed it can help if their employer is doing things write when it comes to payrool for its employees. I have learned some elements about payroll before in math for accounting. The basic was being taught. For example, on your w-2’s you can see your dependents and how much is being withheld from your income taxes.

During her short tenure at Coastal, Georg has made solid improvements in the statutory reporting of payroll by clearing backlog of reporting discrepancies and inquiries with various state and federal agencies. She has also learned various types of payroll utilized around Coastal and is now operating the processes independently. To allow for an orderly transition of work to Georg, several payroll tasks had to be transferred to others such as configuration of Paylocity and GL accounting of payroll. It is my expectation that in the near future Georg could assume the entirety of payroll responsibilities. I encourage Georg to continue polishing her communications style while dealing with internal and external customer to be less emotionally

5.000,00 $ 7.500 151.250 20 35.000,00 $ 12.500 321.250 26 $ 58,20 $ 110.000,00 4.000 333.500 83 115,38

Please contact Fowler, Rachel (DCO) [mailto:rachel.fowler@hcdistrictclerk.com] in Tax Court. In regard to your figures are not matching with the given Evidence in the court. Please Make the correction ASAP and submit it to the court.

Number of outstanding accounts 0 1 2 3 4 Total: Frequency 1 9 7 3 4 24 fx 0 9 14 9 16 |x­x| 2 1 0 1 2 f|x­x| 2 9 0 3 8

under a debt facility agreement. Cash used in investment activities of $22.1 million related to $16.6 in

Show the effects of each of the transactions on the accounts listed. Indicate totals after each transaction and complete the schedule.

Payroll Accountants in simplified terms are the ones who takes care of the checking accounts for the businesses. They send out checks in a timely manner, track benefits, overtime and who is hired or fired. They calculate and distribute wages and salaries and withholdings to employees. They use timesheets,paychecks and a payroll ledgers. The payroll account records the employee 's compensation relative to wages, commissions, taxes, insurances, and benefits.

501. Dependents who checked A. Amount, if any, from line 1 on front . . . . . . + 300.00 Enter total A. one or both 950.00 B. Minimum standard deduction . . . . . . . . . . . . . . . . . . . . . B . boxes