Question

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	46	$68		$750.20	$115
Cobb	41	62		537.68	125
Clemente	48	70		836.44	135
DiMaggio	35	56		366.04	0
Griffey, Jr.	45	62		641.84	145
Mantle			$1,800	342.45	135
Robinson	36	54		382.56	145
Williams			2,000	398.24	140
Vaughn	42	62		584.72	80

Employees Mantle and Williams 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%, and Medicare tax is 1.5% of each employee’s 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 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.

Answer 1

Earnin Overtime @ 1.5 of Deductions Paid Social Federal U.S. Secty Medicare Income Svings Tax 6% Total Hours Rate weekly sala lar regular rate Total Tax 1.5% TotalNet Payable 50$750$ 115 $1,115 2,217 39 538$ 125$S 856 $ 1,717 Tax Bond 1 Aaron 2 Cobb 3 Clemente 4 DIMaggio $ 2,720S 2,480 S 93 2,573154 $ 840 3,640 $ 5 1,960 1960 118 $ S 513 $1,447 2,480 S 465 $ 2,945177 Griffey, Jr 6 Mantle 7 Robinson 8 Williams 9 Vaughn 62 1,800 $108 s 1,944 $117 $ 2,000 $ 120 s 1,800 $ 1,800 1,188 1,271 30398 140$S 688 $ 1,312 1,801 135 S 612 673 S 1,944 $2000S 2,000 S 2,480 186 $ 2,666 $160$ Total 293 $434$ 3,800 $20,6642,196 $22,860 1,372343 4,8401,020 $7,57515,285 Date Particulars CR Dec-09 Office salaries expense 3800 Sales salaries expense Social security tax payable Medicare tax payable Em Bond deduction payable Salaries payable To record salary expense 19060 1371.6 342.9 4840.17 1020 15285.33 s federal income tax payable Dec-09 Salaries payable 15285.33 Cash 15285.33 To record salary payment