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- Identify whether each of the following transactions, which are related to expense recognition, are accrual, deferral, or neither. A. recorded employee salaries earned, to be paid in future month B. paid employees for current month salaries C. paid employee salaries for work performed in a prior month D. gave an employee an advance on future wagesIn the space provided below, prepare the journal entry to record the November payroll for all employees assuming that the payroll is paid on November 30 and that Joness cumulative gross pay (cell I13) is 85,000.Completing the Payroll Register The Employee Payroll Register presents all the computations previously performed as it applies to this payroll period. Complete the following steps (if a field should be blank, leave it blank): Record the amount to be withheld for group insurance. Record the amount to be withheld for health insurance. Each worker is to be paid by check. Assign check numbers provided to the correct employee. Compute the net pay for each employee. Total the input columns. KIPLEY COMPANY, INC.Payroll RegisterFor Period Ending January 8, 20-- EARNINGS DEDUCTIONS NET PAY Name Gross OASDI HI FIT SIT SUTA CIT SIMPLE Grp. Ins. Health Ins. Ck. No. Amount Carson, F. $700.00 $43.40 $10.15 $48.00 $21.49 $0.42 $21.00 $20.00 Wilson, W. 897.04 55.62 13.01 68.00 27.54 0.54 26.91 50.00 Utley, H. 678.75 42.08 9.84 14.00 20.84 0.41 20.36 40.00 Fife, L. 877.10 54.38 12.72 33.00 26.93 0.53 26.31 50.00 Smith, L. 790.00 48.98 11.46 59.00…
- using the earnings data developed in e3-1 and assuming that thus was the first week of employment for R. Herbert with crestview Manufacturing Co, prepare the journal entries for the following: a. the week's payroll1-record the regular hours worked for each employee, using the time clerks report as your reference. 2-Complete the regular earnings columns(rate per hour and amount) for hourly employees. For only hourly employees that worked overtime, complete the overtime earnings columns (rate per hour amount)For salaried workers, complete the regular earnings column and show the hourly overtime rate and earnings only if overtime was worked 3-record the total earnings for each employee by adding the regular earnings and the overtime earningsThe wages and hours information for five employees of Somja Enterprises for the week ended April 7 is given below. Employees work a standard 40-hour workweek and are paid time and one-half for all hours over 40 in each workweek. If required, round your answers to two decimal places and use the rounded answers in subsequent computations. Round your final answers to the nearest cent. a. For each employee, compute the regular earnings, overtime rate, overtime earnings, and total gross earnings. b. Compute the total gross earnings for all employees. Employee Hours Worked Regular Hourly Wage Rate Regular Earnings Overtime Rate Overtime Earnings Total Gross EarningsWilson, H. 43 $11.90 $ $ $ $Aha, C. 42 14.20 Shoup, K. 47 13.90 Carlyn, D. 41½ 10.70 McMurray, J. 45 17.10
- Using the earnings data developed in E3-1 and assuming that this was the first week of employment for R. Herbert with Crestview Manufacturing Co., prepare the journal entries for the following: b. Payment of the payroll.The information for Perseus Company, shown in the following chart, is available from Perseus’s time records and the employees’ individual earnings records for the pay period that ended on December 22. Name HoursWorked Earnings at Endof Previous Week TotalEarnings Class FederalIncome Tax OtherDeductions Beals, C. 44 62,240.00 1,650.00 Sales 193.37 UW 25 Hines, V. 40 120,540.00 2,841.00 Sales 445.03 AR 95 Gore, L. 40 72,000.00 1,872.00 Sales 182.90 UW 25 Moreland, J. 46 34,090.00 1,040.00 Office 46.00 UW 35 Lindel, K. 43 43,450.00 2,010.00 Office 58.00 AR 75 Nordello, Y. 42 46,000.00 2,200.00 Office 67.00 UW 25 Regan, W. 43 52,640.00 1,120.00 Office 65.00 AR 25 Troutman, D. 40 64,000.00 1,310.00 Sales 90.00 UW 20 Additional Information: Taxable earnings for Social Security are based on the first $118,500. Taxable earnings for Medicare are based on all earnings. Taxable earnings for federal and state unemployment are based on the…The information for Perseus Company, shown in the following chart, is available from Perseus’s time records and the employees’ individual earnings records for the pay period that ended on December 22. Name HoursWorked Earnings at Endof Previous Week TotalEarnings Class FederalIncome Tax OtherDeductions Beals, C. 44 62,240.00 1,650.00 Sales 193.37 UW 25 Hines, V. 40 120,540.00 2,841.00 Sales 445.03 AR 95 Gore, L. 40 72,000.00 1,872.00 Sales 182.90 UW 25 Moreland, J. 46 34,090.00 1,040.00 Office 46.00 UW 35 Lindel, K. 43 43,450.00 2,010.00 Office 58.00 AR 75 Nordello, Y. 42 46,000.00 2,200.00 Office 67.00 UW 25 Regan, W. 43 52,640.00 1,120.00 Office 65.00 AR 25 Troutman, D. 40 64,000.00 1,310.00 Sales 90.00 UW 20 Additional Information: Taxable earnings for Social Security are based on the first $118,500. Taxable earnings for Medicare are based on all earnings. Taxable earnings for federal and state unemployment are based on the…
- INPUT VALIDATIONDescribe the types of input edits used for the following data in a payrollsystem. a. Employee nameb. Employee numberc. Social security number d. Rate per hour or salarye. Marital statusf. Number of dependents g. Cost centerh. Regular hours workedi. Overtime hours workedEmployees’ earnings and taxesA weekly payroll summary made from labor time records showsthe following data for Pima Company:HourlyRateHoursEmployee Classification Regular OvertimeTu, H. Direct $12 40 2Dante, J. Direct 12 40 3Jamal, M. Direct 15 40 4Marcus, L. Indirect 9 40Alexander, T. Indirect 18 40Overtime is payable at one-and-a-half times the regular rate of payand is distributed to all jobs worked on during the period.a. Determine the net pay of each employee. The income taxes withheldfor each employee amount to 15% of the gross wages.b. Prepare journal entries for the following:1. Recording the payroll.2. Paying the payroll.3. Distributing the payroll. (Assume that the overtime premiumwill be charged to all jobs worked on during the period.)4. The employer’s payroll taxes. (Assume that none of theemployees has achieved the maximum wage bases for FICAand unemployment taxes.)Choose the best definition of gross pay A. The number of hours over 40 that are worked in a week. B. A fixed amount of wages paid, usually on a yearly basis, regardless of how many hours are worked. C. The amount of money earned for a specific amount of time before any deductions are made. 
