The following data for Throwback Industries Inc. relate to the payroll for the week ended...
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Accounting
The following data for Throwback Industries Inc. relate to the payroll for the week ended December 9, 20Y8:
Employee
Hours Worked
Hourly Rate
Weekly Salary
Federal Income Tax
Retirement Savings
Aaron
43
$70
$689.44
$115
Cobb
43
58
539.92
125
Clemente
45
64
668.44
135
DiMaggio
39
52
377.80
0
Griffey, Jr.
48
64
749.08
145
Mantle
$1,700
317.45
135
Robinson
38
53
387.32
145
Williams
2,100
426.24
140
Vaughn
48
64
770.08
50
Employees Mantle and Williams are office staff, and all of the other employees are sales personnel. All sales personnel are paid 1 times the regular rate for all hours in excess of 40 hours per week. The social security tax rate is 6.0%, and Medicare tax is 1.5% of each employees annual earnings. The next payroll check to be used is No. 901.
Required:
1.
Prepare a payroll register for Throwback Industries Inc. for the week ended December 9, 20Y8. Assume the normal working hours in a week are 40 hours. Enter amounts as positive numbers. Round your intermediate calculations and final answers to two decimal places.
2.
Journalize the entry to record the payroll for the week. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. If required, round your answers to two decimal places.
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