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REGISTER - PANCAKES UNLIMITED FICA Taxable Earnings Deductions Previous Earnings Cumulative for Period NAME Earnings Earnings S. Med. S.S. Med. FIT SIT Health Ins Net Pay Payday, December 18, 2020 For Period Ending December 12, 2020 Brown, D. Davis, H. Garcia, F. Johnson, B. Jones, E. M 41,160.00 840.00 42,000.00 52.08 12.18 14.12 12.18 14.12 13.92 52.08 200.00 200.00 M 49,588.00 1,100.00 960.00 1,057.50 1,010.00 5 50,688.00 60.39 60.39 59.52 61.38 62.62 47.040.00 48,000.00 50,572.00 59.52 61.38 62.62 13.92 100.00 M 4 49,514.50 14.36 14.36 200.00 M 49,490.00 50,500.00 14.65 14.65 200.00 Richardson, M. 2,550.00 361,742.5d 7,517.50 369,260.00 4 124,950.00 127,500.00 158.10 106.20 158.10 106.20 175.43 100.00 TOTALS (Mx4)(Sx2) 22 454.09 175.43 454.09 0.00 0.00| 1.000.00 0.00 No. W/H Allow.

REGISTER - PANCAKES UNLIMITED FICA Taxable Earnings Deductions Previous Earnings Cumulative for Period NAME Earnings Earnings S. Med. S.S. Med. FIT SIT Health Ins Net Pay Payday, December 18, 2020 For Period Ending December 12, 2020 Brown, D. Davis, H. Garcia, F. Johnson, B. Jones, E. M 41,160.00 840.00 42,000.00 52.08 12.18 14.12 12.18 14.12 13.92 52.08 200.00 200.00 M 49,588.00 1,100.00 960.00 1,057.50 1,010.00 5 50,688.00 60.39 60.39 59.52 61.38 62.62 47.040.00 48,000.00 50,572.00 59.52 61.38 62.62 13.92 100.00 M 4 49,514.50 14.36 14.36 200.00 M 49,490.00 50,500.00 14.65 14.65 200.00 Richardson, M. 2,550.00 361,742.5d 7,517.50 369,260.00 4 124,950.00 127,500.00 158.10 106.20 158.10 106.20 175.43 100.00 TOTALS (Mx4)(Sx2) 22 454.09 175.43 454.09 0.00 0.00| 1.000.00 0.00 No. W/H Allow.

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter12: Fainancial Statement Analysis
Section: Chapter Questions
Problem 70E
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What is the FIT, SIT, and NET pay to complete the payroll chart?

E Untitled document - Go X Bb My Blackboard Conter X Bb UTF-8 CHAPTER%209 X Bb My Blackboard Conten X X Bradley Edwards Payro X * Office Editing for Docs, Sheets & Slides chrome-extension://bpmcpldpdmajfigpchkicefoigmkfalc/views/app.html Class Spring 2021:Prac X M MHE Bradley Edwards Payroll.xlsx File Edit Format Help Insert Q Q 11 - B IUSA Calibri BE-三- D E F J K L M N PAYROLL REGISTER - PANCAKES UNLIMITED FICA Taxable Earnings Deductions Previous Earnings for Period Cumulative Earnings NAME Earnings S.S. Med. S.S. Med. FIT SIT Health Ins Net Pay Payday, December 18, 2020 Brown, D. For Period Ending December 12, 2020 4 41,160.00 840.00 42,000.00 52.08 12.18 52.08 12.18 200.00 Davis, H. Garcia, F. 49,588.00 1,100.00 960.00 50,688.00 48,000.00 50,572.00 50,500.00 60.39 14.12 60.39 14.12 200.00 47,040.00 59.52 13.92 59.52 13.92 100.00 Johnson, B. Jones, E. 49,514.50 1,057.50 1,010.00 61.38 14.36 61.38 14.36 200.00 49,490.00 62.62 14.65 62.62 14.65 200.00 Richardson, M. 124,950.00 2,550.00 127,500.00 369,260.00 4 158.10 106.20 158.10 106.20 100.00 0.00 1,000.00| TOTALS (Mx4)(Sx2) 22 361,742.50 7,517.50 454.09 175.43 454.09 175.43 0.00 0.00 Marital Status MMSMM No. W/H Allow. 5I24 3
Transcribed Image Text:E Untitled document - Go X Bb My Blackboard Conter X Bb UTF-8 CHAPTER%209 X Bb My Blackboard Conten X X Bradley Edwards Payro X * Office Editing for Docs, Sheets & Slides chrome-extension://bpmcpldpdmajfigpchkicefoigmkfalc/views/app.html Class Spring 2021:Prac X M MHE Bradley Edwards Payroll.xlsx File Edit Format Help Insert Q Q 11 - B IUSA Calibri BE-三- D E F J K L M N PAYROLL REGISTER - PANCAKES UNLIMITED FICA Taxable Earnings Deductions Previous Earnings for Period Cumulative Earnings NAME Earnings S.S. Med. S.S. Med. FIT SIT Health Ins Net Pay Payday, December 18, 2020 Brown, D. For Period Ending December 12, 2020 4 41,160.00 840.00 42,000.00 52.08 12.18 52.08 12.18 200.00 Davis, H. Garcia, F. 49,588.00 1,100.00 960.00 50,688.00 48,000.00 50,572.00 50,500.00 60.39 14.12 60.39 14.12 200.00 47,040.00 59.52 13.92 59.52 13.92 100.00 Johnson, B. Jones, E. 49,514.50 1,057.50 1,010.00 61.38 14.36 61.38 14.36 200.00 49,490.00 62.62 14.65 62.62 14.65 200.00 Richardson, M. 124,950.00 2,550.00 127,500.00 369,260.00 4 158.10 106.20 158.10 106.20 100.00 0.00 1,000.00| TOTALS (Mx4)(Sx2) 22 361,742.50 7,517.50 454.09 175.43 454.09 175.43 0.00 0.00 Marital Status MMSMM No. W/H Allow. 5I24 3
i UPDATES AVAILABLE Updates for Office are ready to be installed, but first we need to close some apps. Update now Picture 2 fe A B H Payroll Period One Withholding Allowance Weekdy S 79.80 Biweekly Semimonthly Monthly Quarterly Semiannually 159.60 6. 172.90 345.80 1,037.50 2,075.00 10 Annually 4.150.00 11 Daily or miscellaneous (each day of the payroll period) 12 13 14 15 Percentage Method Tables for Income Tax Withholding (For Wages Pald in 2018) 16 17 18 TABLE 1-WEEKLY Payroll Period 19 20 DI MARRIED person Ihe amount of wages aher sublracting (a) SINGLE person (including head ot householdi- the amount of wages Cahor subtracting withhoiding alowancesi i Not over $71 Over $71 %24254 5815 $1.658 $3.100 S917 21 The amount of inobme The amount ofincome tar to wehod is 50 withholding alowarcos to withtcld is Not over $222 22 23 of excess over-Over s222 of axcess over -5222 But not over- 4568 41711 $3.305 S280 57.14 411,761 But not over- -$254 S815 -471 $254 -$815 S0 00 pus 10% $10.30 plus 12 S8S 62 plus 22 $271.08 plus 24% $617.16 plus 30% $878 60 plus 35% $2.08 10 pls 37% $0.00 plus 10N $3.60 plus 12 $171.36 plus 22% $54184 plus 2 $1.23424 pl32% $1,76712 pl 39% ES.103.57plus3% 24 25 S711 4111 -3.100 -43.017 -50.687 26 -83.100 -83.917 $6.280 $7.914 -714 -411.711 27 28 29 30 31 Time Record Payroll Register Withholdings Tables 1.
Transcribed Image Text:i UPDATES AVAILABLE Updates for Office are ready to be installed, but first we need to close some apps. Update now Picture 2 fe A B H Payroll Period One Withholding Allowance Weekdy S 79.80 Biweekly Semimonthly Monthly Quarterly Semiannually 159.60 6. 172.90 345.80 1,037.50 2,075.00 10 Annually 4.150.00 11 Daily or miscellaneous (each day of the payroll period) 12 13 14 15 Percentage Method Tables for Income Tax Withholding (For Wages Pald in 2018) 16 17 18 TABLE 1-WEEKLY Payroll Period 19 20 DI MARRIED person Ihe amount of wages aher sublracting (a) SINGLE person (including head ot householdi- the amount of wages Cahor subtracting withhoiding alowancesi i Not over $71 Over $71 %24254 5815 $1.658 $3.100 S917 21 The amount of inobme The amount ofincome tar to wehod is 50 withholding alowarcos to withtcld is Not over $222 22 23 of excess over-Over s222 of axcess over -5222 But not over- 4568 41711 $3.305 S280 57.14 411,761 But not over- -$254 S815 -471 $254 -$815 S0 00 pus 10% $10.30 plus 12 S8S 62 plus 22 $271.08 plus 24% $617.16 plus 30% $878 60 plus 35% $2.08 10 pls 37% $0.00 plus 10N $3.60 plus 12 $171.36 plus 22% $54184 plus 2 $1.23424 pl32% $1,76712 pl 39% ES.103.57plus3% 24 25 S711 4111 -3.100 -43.017 -50.687 26 -83.100 -83.917 $6.280 $7.914 -714 -411.711 27 28 29 30 31 Time Record Payroll Register Withholdings Tables 1.
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Prepare the journal entry for the salaries and wages paid.

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