Employee Earnings RecordMary’s Luxury Travel uses a weekly federal income tax withholding table. Refer to Figure 8-4 in the text. The payroll data for each employee for the week ended March 22, 20—, are given. Employees are paid 1½ times the regular rate for working over 40 hours a week.NameNo. ofAllowancesMaritalStatusTotal HoursWorked Mar. 16–22RateTotal EarningsJan. 1–Mar. 15Bacon, Andrea4M44$14.00$6,300.00  Cole, Andrew1S4015.006,150.00  Hicks, Melvin3M4413.505,805.00  Leung, Cara1S3614.005,600.00  Melling, Melissa2M4014.505,945.00   Social Security tax is withheld from the first $128,400 of earnings at the rate of 6.2%. Medicare tax is withheld at the rate of 1.45%, and city earnings tax at the rate of 1%, both applied to gross pay. Bacon and Leung have $15 withheld and Cole and Hicks have $10 withheld for health insurance. Bacon and Leung have $20 withheld to be invested in the travel agency’s credit union. Cole has $38.75 withheld and Hicks has $18.75 withheld under a savings bond purchase plan.Mary’s Luxury Travel’s payroll is met by drawing checks on its regular bank account. The checks were issued in sequence, beginning with Check No. 423.Andrew Cole, employee number 62, is employed as a manager in the ticket sales department. He was born on May 8, 1986, and was hired on June 1 of last year. His Social Security number is 544-67-1283. He lives at 28 Quarry Drive, Vernon, CT, 06066.Required:For the week ended March 22, complete an employee earnings record for Andrew Cole. (Insert earnings data only for the week of March 22.)Employee Earnings Record for Period EndedMarch 2220-- EarningsTaxable EarningsDeductions  20 --PeriodEndedRegularOvertimeTotalCumulativeTotalUnemploy.Comp.SocialSecurityFederalIncome TaxSocialSecurity TaxMedicareTaxCity TaxHealthInsuranceOtherTotalCk. No.Amount3/8                3/15                3/22                3/29                GenderDepartmentOccupationSocial Security No.Marital StatusAllowancesPay RateDate of BirthDate HiredName/AddressEmp. No.M Ticket SalesManager544-67-1283S1$15.005/8/866/1/--Andrew Cole62            28 Quarry Drive             Vernon, CT, 06066  Feedback Enter earnings in the first six columns. The deduction columns begin with Federal Income Tax and the total column is for total deductions. The check amount is given and the net amount is current period earnings less deductions.

Question
Asked Nov 26, 2019
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Employee Earnings Record

Mary’s Luxury Travel uses a weekly federal income tax withholding table. Refer to Figure 8-4 in the text. The payroll data for each employee for the week ended March 22, 20—, are given. Employees are paid 1½ times the regular rate for working over 40 hours a week.


Name
No. of
Allowances
Marital
Status
Total Hours
Worked Mar. 16–22

Rate
Total Earnings
Jan. 1–Mar. 15
Bacon, Andrea 4 M 44 $14.00 $6,300.00  
Cole, Andrew 1 S 40 15.00 6,150.00  
Hicks, Melvin 3 M 44 13.50 5,805.00  
Leung, Cara 1 S 36 14.00 5,600.00  
Melling, Melissa 2 M 40 14.50 5,945.00  

 


Social Security tax is withheld from the first $128,400 of earnings at the rate of 6.2%. Medicare tax is withheld at the rate of 1.45%, and city earnings tax at the rate of 1%, both applied to gross pay. Bacon and Leung have $15 withheld and Cole and Hicks have $10 withheld for health insurance. Bacon and Leung have $20 withheld to be invested in the travel agency’s credit union. Cole has $38.75 withheld and Hicks has $18.75 withheld under a savings bond purchase plan.

Mary’s Luxury Travel’s payroll is met by drawing checks on its regular bank account. The checks were issued in sequence, beginning with Check No. 423.

Andrew Cole, employee number 62, is employed as a manager in the ticket sales department. He was born on May 8, 1986, and was hired on June 1 of last year. His Social Security number is 544-67-1283. He lives at 28 Quarry Drive, Vernon, CT, 06066.

Required:

For the week ended March 22, complete an employee earnings record for Andrew Cole. (Insert earnings data only for the week of March 22.)

Employee Earnings Record for Period Ended March 22 20--
  Earnings Taxable Earnings Deductions    
20 --
Period
Ended


Regular


Overtime


Total

Cumulative
Total

Unemploy.
Comp.

Social
Security
Federal
Income Tax
Social
Security Tax

Medicare
Tax


City Tax

Health
Insurance


Other


Total


Ck. No.


Amount
3/8                                
3/15                                
3/22                                
3/29                                

Gender

Department

Occupation

Social Security No.

Marital Status

Allowances

Pay Rate

Date of Birth

Date Hired

Name/Address

Emp. No.
M   Ticket Sales Manager 544-67-1283 S 1 $15.00 5/8/86 6/1/-- Andrew Cole 62
                        28 Quarry Drive  
                        Vernon, CT, 06066  
 
Feedback
 
Enter earnings in the first six columns. The deduction columns begin with Federal Income Tax and the total column is for total deductions. The check amount is given and the net amount is current period earnings less deductions.
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Expert Answer

Step 1

Payroll:  Payroll refers to the total amount that is required to be paid by the company to its employees during a week, month or other period. It is the financial record of the wages and bonus, net pay, salary and deductions of a company’s employees.

Complete an employee earnings record for Employee Andrew Cole.

Employee Earning Record
for the year eaded March 22,20
Tax earnings
Earaings
Deductions
Social
Medicare
Cumulative Unemployment Social
total (2)
Period
Total
Federal
security
City Tax
Health
Check No
Net pay
Regular Overtime
Other
Total
tax
compeasation security
iasurance
ended
(A)
income tax
(Ax6.2%)
tax
(Ax1.45%)
(Ax6.2%)
3720
22-Mar
600.00
600.00
600.00
6,750.00
600.00
51.00
8.70
6.00
1000
Bonds
38.75
151.65
424
448.35
Department
Name Address
Employee AC
28 Quarry Drive
Vemon, CT, 06066
Social security No.
Pay rate Date of Birth Date hired
6/1
Employee No:
Geader
Occupation
Manager
Martial status Allowance
Male
Ticket sales
544-67-1283
Single
15.00
5/8/1986
62
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Employee Earning Record for the year eaded March 22,20 Tax earnings Earaings Deductions Social Medicare Cumulative Unemployment Social total (2) Period Total Federal security City Tax Health Check No Net pay Regular Overtime Other Total tax compeasation security iasurance ended (A) income tax (Ax6.2%) tax (Ax1.45%) (Ax6.2%) 3720 22-Mar 600.00 600.00 600.00 6,750.00 600.00 51.00 8.70 6.00 1000 Bonds 38.75 151.65 424 448.35 Department Name Address Employee AC 28 Quarry Drive Vemon, CT, 06066 Social security No. Pay rate Date of Birth Date hired 6/1 Employee No: Geader Occupation Manager Martial status Allowance Male Ticket sales 544-67-1283 Single 15.00 5/8/1986 62

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Step 2

Excel workings:

...
T14
A.
C
E
G
HI
M
N
Q
Employee Earning Record
for the year ended March 22.20
Тах earaings
Deductions
Earnings
Federal
Social
Cumulative Unemployment
(A)
total (2)
Total
Health
Period
Social
Medicare tax
City Tax
Chock .No
Regular Overtime
income security tax
Other
Net pay
Tetal
(Ax6.2%) iasurance
eaded
соmpевsation
secarity
(A 145%)
(A 6.2%)
tax
424
22-Mar 600.00
870
38.7516 16+K6+L6+M6-06
600.00
6,750 00
600.00
1.00
37.20
600.00
6.00
10.00
Bonds
E6-P6
Gender
Department
Ticket sales
Secial security No.
$44-67-1283
Оссираrion
artial stat Allowances
Date of Birth Date hired
NameAddress
Empleyee No:
Pay rate
Employee AC
28 Quarry Drive
Manager
Male
Single
15.00
5/8/1986
6/1
62
Vermon, CT. 06066
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Image Transcriptionclose

T14 A. C E G HI M N Q Employee Earning Record for the year ended March 22.20 Тах earaings Deductions Earnings Federal Social Cumulative Unemployment (A) total (2) Total Health Period Social Medicare tax City Tax Chock .No Regular Overtime income security tax Other Net pay Tetal (Ax6.2%) iasurance eaded соmpевsation secarity (A 145%) (A 6.2%) tax 424 22-Mar 600.00 870 38.7516 16+K6+L6+M6-06 600.00 6,750 00 600.00 1.00 37.20 600.00 6.00 10.00 Bonds E6-P6 Gender Department Ticket sales Secial security No. $44-67-1283 Оссираrion artial stat Allowances Date of Birth Date hired NameAddress Empleyee No: Pay rate Employee AC 28 Quarry Drive Manager Male Single 15.00 5/8/1986 6/1 62 Vermon, CT. 06066

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