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. ofAllowances MaritalStatus Total HoursWorked Mar. 16–22 Rate Total EarningsJan. 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 --PeriodEnded Regular Overtime Total CumulativeTotal Unemploy.Comp. SocialSecurity FederalIncome Tax SocialSecurity Tax MedicareTax City Tax HealthInsurance 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.

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. ofAllowances MaritalStatus Total HoursWorked Mar. 16–22 Rate Total EarningsJan. 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 --PeriodEnded Regular Overtime Total CumulativeTotal Unemploy.Comp. SocialSecurity FederalIncome Tax SocialSecurity Tax MedicareTax City Tax HealthInsurance 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.

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)

22nd Edition

ISBN:9781305666160

Author:James A. Heintz, Robert W. Parry

Publisher:James A. Heintz, Robert W. Parry

Chapter9: Payroll Accounting: Employer Taxes And Reports

Section: Chapter Questions

Problem 1SEA: CALCULATION AND JOURNAL ENTRY FOR EMPLOYER PAYROLL TAXES Portions of the payroll register for...

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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

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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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