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The following data for Throwback Industries Inc. relate to the payroll for the week ended December 9.

Employee	Hours Worked	Hourly Rate	Weekly Salary	Federal Income Tax	U.S. Savings Bonds
Aaron	46	$68.00		$750.20	$100
Cobb	41	62.00		537.68	110
Clemente	48	70.00		832.64	120
DiMaggio	35	56.00		366.04	0
Griffey, Jr.	45	62.00		641.84	130
Mantle			$1,800	342.45	120
Robinson	36	54.00		382.56	130
Williams			2,000	398.24	125
Vaughn	42	62.00		584.72	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 summary for Throwback Industries Inc. for the week ended December 9. Assume the normal working hours in a week are 40 hours. Enter amounts as positive numbers and round your intermediate calculations and final answers to the nearest whole cent (two decimal places).
2.	Journalize the entry to record the payroll for the week. If required, round your answers to two decimal places. Refer to the Chart of Accounts for exact wording of account titles.

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Payroll Summary

1. Prepare a payroll summary for Throwback Industries Inc. for the week ended December 9. Assume the normal working hours in a week are 40 hours. Enter amounts as positive numbers and round your intermediate calculations and final answers to the nearest whole cent (two decimal places).

Payroll for Week Ending December 9

1			Earnings	Earnings	Earnings	Deductions	Deductions	Deductions	Deductions	Deductions	Paid	Paid	Account Debited	Account Debited
2	Employee	Total Hours	Regular	Overtime	Total	Social Security Tax	Medicare Tax	Federal Income Tax	U.S. Savings Bond	Total	Net Pay	Ck. No.	Sales Salaries Expense	Office Salaries Expense
3	Aaron	46.00						$750.20	$100.00			#901
4	Cobb	41.00						537.68	110.00			#902
5	Clemente	48.00						832.64	120.00			#903
6	DiMaggio	35.00						366.04				#904
7	Griffey, Jr.	45.00						641.84	130.00			#905
8	Mantle							342.45	120.00			#906
9	Robinson	36.00						382.56	130.00			#907
10	Williams							398.24	125.00			#908
11	Vaughn	42.00						584.72	50.00			#909
12								$4,836.37	$885.00

2. Journalize the entry to record the payroll for the week. If required, round your answers to two decimal places. Refer to the Chart of Accounts for exact wording of account titles.

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JOURNAL

ACCOUNTING EQUATION

	DATE	DESCRIPTION	POST. REF.	DEBIT	CREDIT	ASSETS	LIABILITIES	EQUITY
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