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Ultimate Accounting Services has the following payroll information for the week ending in December 7. State Income Tax is computed as 20 percent of Federal Income Tax. Name Beginning Cumulative Earnings Total Earnings  Deductions Federal Income Tax State Income Tax Trouble, M.                 7,000.00       580.00 50 10 Dainty, D.                 6,540.00       470.00 36 7.2 Joyner, T.              25,600.00       680.00 75 15 Madison, W.              45,000.00       900.00 92 18.4 Frank, G.              90,200.00    1,100.00 245 49 Thomas, R.              35,000.00       890.00 46 9.2   Assumed tax rates are as follows: FICA: Social Security, (employer) 6.2 percent (0.062) and (employee) 6.2 percent (0.062) on the first $118,500 for each employee, and Medicare, 1.45 percent (0.0145) on all earnings for each employee. State unemployment tax, 5.4 percent (0.054) on the first $7,000 for each employee. Federal unemployment tax, 0.6 percent (0.006) on the first $7,000 for each employee. What you must do: Complete the attached payroll register (Unit 6 Payroll - Question 4)(Excel Spreadsheet). To assist, use the following information: Payroll checks begin with Ck. No. 4510 in the payroll register. Submission Format Use the attached payroll register (Unit 6 Payroll - Question 4)(Excel Spreadsheet) to complete this assignment.               Taxable Earnings Deductions   Payments Name Beginning Cumulative Earnings   Total Earnings    Ending Cumulative Earnings   Unemploy-ment   Social Security   Medicare Federal Income Tax State Income Tax   Social Security Tax   Medicare Tax   Total   Net Amount   Check No. Trouble, M.            7,000.00              580.00                      50.00      10.00                     Dainty, D.            6,540.00              470.00                      36.00        7.20                     Joyner, T.           25,600.00              680.00                      75.00      15.00                     Madison, W.           45,000.00              900.00                      92.00      18.40                     Frank, G.           90,200.00           1,100.00                     245.00      49.00                     Thomas, R.           35,000.00              890.00                      46.00        9.20                       209,340.00   4,620.00                       -                        -                   -               -   544.00 108.80             -               -               -               -       How do I fill this out?

Ultimate Accounting Services has the following payroll information for the week ending in December 7. State Income Tax is computed as 20 percent of Federal Income Tax. Name Beginning Cumulative Earnings Total Earnings  Deductions Federal Income Tax State Income Tax Trouble, M.                 7,000.00       580.00 50 10 Dainty, D.                 6,540.00       470.00 36 7.2 Joyner, T.              25,600.00       680.00 75 15 Madison, W.              45,000.00       900.00 92 18.4 Frank, G.              90,200.00    1,100.00 245 49 Thomas, R.              35,000.00       890.00 46 9.2   Assumed tax rates are as follows: FICA: Social Security, (employer) 6.2 percent (0.062) and (employee) 6.2 percent (0.062) on the first $118,500 for each employee, and Medicare, 1.45 percent (0.0145) on all earnings for each employee. State unemployment tax, 5.4 percent (0.054) on the first $7,000 for each employee. Federal unemployment tax, 0.6 percent (0.006) on the first $7,000 for each employee. What you must do: Complete the attached payroll register (Unit 6 Payroll - Question 4)(Excel Spreadsheet). To assist, use the following information: Payroll checks begin with Ck. No. 4510 in the payroll register. Submission Format Use the attached payroll register (Unit 6 Payroll - Question 4)(Excel Spreadsheet) to complete this assignment.               Taxable Earnings Deductions   Payments Name Beginning Cumulative Earnings   Total Earnings    Ending Cumulative Earnings   Unemploy-ment   Social Security   Medicare Federal Income Tax State Income Tax   Social Security Tax   Medicare Tax   Total   Net Amount   Check No. Trouble, M.            7,000.00              580.00                      50.00      10.00                     Dainty, D.            6,540.00              470.00                      36.00        7.20                     Joyner, T.           25,600.00              680.00                      75.00      15.00                     Madison, W.           45,000.00              900.00                      92.00      18.40                     Frank, G.           90,200.00           1,100.00                     245.00      49.00                     Thomas, R.           35,000.00              890.00                      46.00        9.20                       209,340.00   4,620.00                       -                        -                   -               -   544.00 108.80             -               -               -               -       How do I fill this out?

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 3E
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Question

Ultimate Accounting Services has the following payroll information for the week ending in December 7. State Income Tax is computed as 20 percent of Federal Income Tax.

Name

 Beginning
Cumulative
Earnings		 Total
Earnings 		 Deductions
Federal
Income Tax		 State
Income Tax
Trouble, M.                 7,000.00       580.00 50 10
Dainty, D.                 6,540.00       470.00 36 7.2
Joyner, T.              25,600.00       680.00 75 15
Madison, W.              45,000.00       900.00 92 18.4
Frank, G.              90,200.00    1,100.00 245 49
Thomas, R.              35,000.00       890.00 46 9.2
 

Assumed tax rates are as follows:

  1. FICA: Social Security, (employer) 6.2 percent (0.062) and (employee) 6.2 percent (0.062) on the first $118,500 for each employee, and Medicare, 1.45 percent (0.0145) on all earnings for each employee.

  2. State unemployment tax, 5.4 percent (0.054) on the first $7,000 for each employee.

  3. Federal unemployment tax, 0.6 percent (0.006) on the first $7,000 for each employee.

What you must do:

Complete the attached payroll register (Unit 6 Payroll - Question 4)(Excel Spreadsheet). To assist, use the following information:

  • Payroll checks begin with Ck. No. 4510 in the payroll register.

Submission Format

  • Use the attached payroll register (Unit 6 Payroll - Question 4)(Excel Spreadsheet) to complete this assignment.
                  Taxable Earnings Deductions   Payments
    Name Beginning Cumulative Earnings   Total Earnings    Ending Cumulative Earnings   Unemploy-ment   Social Security   Medicare Federal Income Tax State Income Tax   Social Security Tax   Medicare Tax   Total   Net Amount   Check No.
    Trouble, M.            7,000.00              580.00                      50.00      10.00                    
    Dainty, D.            6,540.00              470.00                      36.00        7.20                    
    Joyner, T.           25,600.00              680.00                      75.00      15.00                    
    Madison, W.           45,000.00              900.00                      92.00      18.40                    
    Frank, G.           90,200.00           1,100.00                     245.00      49.00                    
    Thomas, R.           35,000.00              890.00                      46.00        9.20                    
      209,340.00   4,620.00                       -                        -                   -               -   544.00 108.80             -               -               -               -      
  • How do I fill this out?

 

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