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2. Richard Corp has the following data for the third week of December: Employee Name Classification Hours Worked Rate per hour A. Kuhol Laborer 45 50 B. Aileen Office Secretary 46 45 C. Jose D. Jay Laborer 50 52 Factory Supervisor 55 52 48 48 E. Richmond Sales agent 60 F. Edward Laborer 45 The following are to be deducted to the gross earnings of employees: Witholding taxes sSS contributions 5% 3% Philhealth 1% Pag-ibig 1% Richard Corp paid its employees one and half times the regular rate for hours worked in excess of 40 hours. Required: Prepare Journal Entries to record A. Payroll B. Labor distribution

2. Richard Corp has the following data for the third week of December: Employee Name Classification Hours Worked Rate per hour A. Kuhol Laborer 45 50 B. Aileen Office Secretary 46 45 C. Jose D. Jay Laborer 50 52 Factory Supervisor 55 52 48 48 E. Richmond Sales agent 60 F. Edward Laborer 45 The following are to be deducted to the gross earnings of employees: Witholding taxes sSS contributions 5% 3% Philhealth 1% Pag-ibig 1% Richard Corp paid its employees one and half times the regular rate for hours worked in excess of 40 hours. Required: Prepare Journal Entries to record A. Payroll B. Labor distribution

Century 21 Accounting General Journal
Century 21 Accounting General Journal
11th Edition
ISBN:9781337680059
Author:Gilbertson
Publisher:Gilbertson
Chapter12: Preparing Payroll Records
Section: Chapter Questions
Problem 1AP
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How to answer numbers 2,3,4?
Activity 4- Accounting for Labor 1. JYD Accounting Firm pays its employees at a rate of P50/hr. The tax and other deductions amount to 20% of monthly income in excess of P1,000 if an employee works 40 hours in a 120 hours in a month. Required : Compute the following: A. Gross Pay B. Net Pay 2. Richard Corp has the following data for the third week of December: Employee Name Classification Hours Worked Rate per hour A. Kuhol B. Aileen C. Jose Laborer 45 50 Office Secretary 46 45 Laborer 50 52 Factory Supervisor Sales agent Laborer D. Jay 55 48 E. Richmond 52 60 F. Edward 48 45 The following are to be deducted to the gross earnings of employees: Witholding taxes SSS contributions 5% 3% Philhealth 1% Pag-ibig 1% Richard Corp paid its employees one and half times the regular rate for hours worked in excess of 40 hours. Required: Prepare Journal Entries to record A. Payroll B. Labor distribution 3. Mr. Koala, a factory worker is paid P150 per hour for a regular work of 40 hours. During the week, Mr. Koala worked 45 hours and earned time and a half for overtime hours. Required: Prepare Journal Entries A. If overtime premium is charged to the jobs worked during the overtime hours. B. If the overtime premium is not charged to specific jobs. 4. Peter Senen Corp has the following data for the fourth week of March Hours Worked Employee Name Hourly Rate Sun Mon Tue Wed Thurs Fri Sat Total Kris 900 8 8 8 8 8 8 54 Bryan 950 8 7 10 9 8 49 Rose 750 1. 8 9. 10 9 8 53 Tess 900 8 10 8 8 8 56 Jose 1,000 9 8 8 6 7 10 8 56 The rate for hours in excess of 40 is one and half times the regular rate. The rate for hours worked on Sunday is twice the regular rate. Required: compute the gross earnings of each employee.
Transcribed Image Text:Activity 4- Accounting for Labor 1. JYD Accounting Firm pays its employees at a rate of P50/hr. The tax and other deductions amount to 20% of monthly income in excess of P1,000 if an employee works 40 hours in a 120 hours in a month. Required : Compute the following: A. Gross Pay B. Net Pay 2. Richard Corp has the following data for the third week of December: Employee Name Classification Hours Worked Rate per hour A. Kuhol B. Aileen C. Jose Laborer 45 50 Office Secretary 46 45 Laborer 50 52 Factory Supervisor Sales agent Laborer D. Jay 55 48 E. Richmond 52 60 F. Edward 48 45 The following are to be deducted to the gross earnings of employees: Witholding taxes SSS contributions 5% 3% Philhealth 1% Pag-ibig 1% Richard Corp paid its employees one and half times the regular rate for hours worked in excess of 40 hours. Required: Prepare Journal Entries to record A. Payroll B. Labor distribution 3. Mr. Koala, a factory worker is paid P150 per hour for a regular work of 40 hours. During the week, Mr. Koala worked 45 hours and earned time and a half for overtime hours. Required: Prepare Journal Entries A. If overtime premium is charged to the jobs worked during the overtime hours. B. If the overtime premium is not charged to specific jobs. 4. Peter Senen Corp has the following data for the fourth week of March Hours Worked Employee Name Hourly Rate Sun Mon Tue Wed Thurs Fri Sat Total Kris 900 8 8 8 8 8 8 54 Bryan 950 8 7 10 9 8 49 Rose 750 1. 8 9. 10 9 8 53 Tess 900 8 10 8 8 8 56 Jose 1,000 9 8 8 6 7 10 8 56 The rate for hours in excess of 40 is one and half times the regular rate. The rate for hours worked on Sunday is twice the regular rate. Required: compute the gross earnings of each employee.
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