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 Hours Worked Earnings at End of Previous Week Total Earnings Class Federal Income Tax Other Deductions 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 first $7,000. The company does not pay for overtime hours. What you must do: Complete the attached fillable payroll register 2. To assist, use the following information: a Social Security tax rate of 6.2 percent a Medicare tax rate of 1.45 percent. Concerning Other Deductions, AR refers to Accounts Receivable and UW refers to United Way. Begin payroll checks in the payroll register with No. 2820. Employee Name Total Hours EARNINGS DEDUCTIONS PAID Regular Overtime Total Social Medicare Federal Charitable Contribution Retirement Total Net Ck. Security Tax Income Savings Pay No. Tax Tax

College Accounting (Book Only): A Career Approach

12th Edition

ISBN:9781305084087

Author:Cathy J. Scott

Publisher:Cathy J. Scott

Chapter7: Employee Earnings And Deductions

Section: Chapter Questions

Problem 4PA

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Question

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	Hours Worked	Earnings at End of Previous Week	Total Earnings	Class	Federal Income Tax	Other Deductions
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 first $7,000.
The company does not pay for overtime hours.

What you must do:

Complete the attached fillable payroll register 2. To assist, use the following information:

a Social Security tax rate of 6.2 percent
a Medicare tax rate of 1.45 percent.
Concerning Other Deductions, AR refers to Accounts Receivable and UW refers to United Way.

Begin payroll checks in the payroll register with No. 2820.

Employee Name	Total Hours	EARNINGS	DEDUCTIONS	PAID
Regular	Overtime	Total	Social	Medicare	Federal	Charitable Contribution	Retirement	Total	Net	Ck.
Security	Tax	Income		Savings	Pay	No.
Tax		Tax

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