Homework Help is Here – Start Your Trial Now!
Business
Accounting
The following data for Flexco Inc. relate to the payroll for the week ended December 9, 20Y8: Hours Worked Hourly Rate Weekly Salary Federal Income Tax Retirement Employee Carlton Savings $ 60 $667.00 52 $50.00 860.00 Grove $4,000 100 Johnson 36 52.00 355.68 Koufax Maddux 45 58.00 578.55 44 37 45.00 349.65 62 3,200 768.00 Seaver 120 Spahn 46 52.00 382.20 572.00 Winn 48 50.00 75 Young 43 54.00 480.60 80 Employees Grove and Seaver are office staff, and all of the other employees are sales personnel. All sales personnel are paid 1½ times the regular rate for all hours in excess of 40 hours per week. The social security tax rate is 6.0% of each employee's annual earnings, and Medicare tax is 1.5% of each employee's annual earnings. The next payroll check to be used is No. 328. Instructions 1. Prepare a payroll register for Flexco Inc. for the week ended December 9, 20Y8. Use the following columns for the payroll register: Employee, Total Hours, Regular Earnings, Overtime Earnings, Total Earnings, Social Security Tax, Medicare Tax, Federal Income Tax, Retirement Savings, Total Deductions, Net Pay, Ck. No., Sales Salaries Expense, and Office Salaries Expense. 2. Journalize the entry to record the payroll for the week.

The following data for Flexco Inc. relate to the payroll for the week ended December 9, 20Y8: Hours Worked Hourly Rate Weekly Salary Federal Income Tax Retirement Employee Carlton Savings $ 60 $667.00 52 $50.00 860.00 Grove $4,000 100 Johnson 36 52.00 355.68 Koufax Maddux 45 58.00 578.55 44 37 45.00 349.65 62 3,200 768.00 Seaver 120 Spahn 46 52.00 382.20 572.00 Winn 48 50.00 75 Young 43 54.00 480.60 80 Employees Grove and Seaver are office staff, and all of the other employees are sales personnel. All sales personnel are paid 1½ times the regular rate for all hours in excess of 40 hours per week. The social security tax rate is 6.0% of each employee's annual earnings, and Medicare tax is 1.5% of each employee's annual earnings. The next payroll check to be used is No. 328. Instructions 1. Prepare a payroll register for Flexco Inc. for the week ended December 9, 20Y8. Use the following columns for the payroll register: Employee, Total Hours, Regular Earnings, Overtime Earnings, Total Earnings, Social Security Tax, Medicare Tax, Federal Income Tax, Retirement Savings, Total Deductions, Net Pay, Ck. No., Sales Salaries Expense, and Office Salaries Expense. 2. Journalize the entry to record the payroll for the week.

College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter8: Employer Taxes, Payments, And Reports
Section: Chapter Questions
Problem 2PA
See similar textbooks
icon
Related questions
Question
The following data for Flexco Inc. relate to the payroll for the week ended December 9, 20Y8: Hours Worked Hourly Rate Weekly Salary Federal Income Tax Retirement Employee Carlton Savings $ 60 $667.00 52 $50.00 860.00 Grove $4,000 100 Johnson 36 52.00 355.68 Koufax Maddux 45 58.00 578.55 44 37 45.00 349.65 62 3,200 768.00 Seaver 120 Spahn 46 52.00 382.20 572.00 Winn 48 50.00 75 Young 43 54.00 480.60 80 Employees Grove and Seaver are office staff, and all of the other employees are sales personnel. All sales personnel are paid 1½ times the regular rate for all hours in excess of 40 hours per week. The social security tax rate is 6.0% of each employee's annual earnings, and Medicare tax is 1.5% of each employee's annual earnings. The next payroll check to be used is No. 328. Instructions 1. Prepare a payroll register for Flexco Inc. for the week ended December 9, 20Y8. Use the following columns for the payroll register: Employee, Total Hours, Regular Earnings, Overtime Earnings, Total Earnings, Social Security Tax, Medicare Tax, Federal Income Tax, Retirement Savings, Total Deductions, Net Pay, Ck. No., Sales Salaries Expense, and Office Salaries Expense. 2. Journalize the entry to record the payroll for the week.
Transcribed Image Text:The following data for Flexco Inc. relate to the payroll for the week ended December 9, 20Y8: Hours Worked Hourly Rate Weekly Salary Federal Income Tax Retirement Employee Carlton Savings $ 60 $667.00 52 $50.00 860.00 Grove $4,000 100 Johnson 36 52.00 355.68 Koufax Maddux 45 58.00 578.55 44 37 45.00 349.65 62 3,200 768.00 Seaver 120 Spahn 46 52.00 382.20 572.00 Winn 48 50.00 75 Young 43 54.00 480.60 80 Employees Grove and Seaver are office staff, and all of the other employees are sales personnel. All sales personnel are paid 1½ times the regular rate for all hours in excess of 40 hours per week. The social security tax rate is 6.0% of each employee's annual earnings, and Medicare tax is 1.5% of each employee's annual earnings. The next payroll check to be used is No. 328. Instructions 1. Prepare a payroll register for Flexco Inc. for the week ended December 9, 20Y8. Use the following columns for the payroll register: Employee, Total Hours, Regular Earnings, Overtime Earnings, Total Earnings, Social Security Tax, Medicare Tax, Federal Income Tax, Retirement Savings, Total Deductions, Net Pay, Ck. No., Sales Salaries Expense, and Office Salaries Expense. 2. Journalize the entry to record the payroll for the week.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 5 steps with 4 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781305084087
Author:
Cathy J. Scott
Publisher:
Cengage Learning
Century 21 Accounting Multicolumn Journal
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:
9781337679503
Author:
Gilbertson
Publisher:
Cengage
Century 21 Accounting General Journal
Century 21 Accounting General Journal
Accounting
ISBN:
9781337680059
Author:
Gilbertson
Publisher:
Cengage
Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
College Accounting, Chapters 1-27 (New in Account…
College Accounting, Chapters 1-27 (New in Account…
Accounting
ISBN:
9781305666160
Author:
James A. Heintz, Robert W. Parry
Publisher:
Cengage Learning
SEE MORE TEXTBOOKS