Question

Problem 11-03A a-d Vaughn Hardware has four employees who are paid on an hourly basis plus time-and-a-half for all hours worked in excess of 40 a week. Payroll data for the week ended March 15, 2020, are presented below. Employee Ben Abel Rita Hager Jack Never Sue Perez Hours Worked 40 42 Hourly Rate Withholdings Fund $5 $15 16 13 13 60 61 8 46 Abel and Hager are married. They claim 0 and 4 withholding allowances, respectively. The following tax rates are applicable: FICA 7.65%, state income taxes 3%, state unemployment taxes 5.4%, and federal unemployment 0.8% Prepare a payroll register for the weekly payroll. (Round answers to 2 decimal places, e.g. 15.25. MARRIED Persons - WEEKLY Payroll Period For Wages Paid through December 2017) If the wages are_ And the number of withholding allowances claimed is - 4 10 At least But less than The amount of income tax to be withheld is - 34 27 0 0 0 19 500 510 520 530 540 510 520 35 28 20 12 530 3729 21 540 38 30 22 550 40 31 23 15 13 14 0 0 560 41 3224 16 570 4333 25 1710 580 443426 1811 590 4635 27 1912 600 4736 28 20 13 550 560 570 580 590 4 610 49 38 29 21 14 620 6305241 600 610 620 630 640 50 39 30 22 15 31 23 16 53 42 32 24 17 55 44 33 25 18 10 650 56 45 34 26 19 11 58 47 35 27 20 12 59 48 37 28 21 13 4 650 660 670 680 690 6805 690 61 50 38 29 22147 700 62 51 40 30 2315 VAUGHN HARDWARE Payroll Register For the Week Ending March 15, 2020 Deductions Earnings Salaries and Wages Federal Income Tax State Income Employee Hours Regular Ben Abel Rita Hager 42 Jack Never 44 United Fund Total Overtime Gross Pay FICA Net PayExpense lax 40 46 Sue Perez Totals SHOW LIST OF ACCOUNTS Journalize the payroll on March 15, 2020, and the accrual of employer payroll taxes. (Round answers to 2 decimal places, e.g. 15.25. Credit account ti when amount is entered. Do not indent manually.) Date Account Titles and Explanation Credit Mar. 15 To record payroll) Mar. 15 (To record accrual of payroll taxes.) Journalize the payment of the payroll on March 16, 2020. (Round answers to 2 decimal places, e.g. 15.25. Credit account titles are aut not indent manually.) Account Titles and Explanation Debit Credit Date Mar. 16 SHOW LIST OF ACCOUNTS LINK TO TEXT Journalize the deposit in a Federal Reserve bank on March 31, 2020, of the FICA and federal income taxes payable to the government. (Round account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Mar. 31 Click if you would like to Show Work for this question: Qpen Show Work

Answer 1

State Income Tax 1 Hours Regular Overtime Gross Pay FICA Federal Income Tax 49 (See from Table at 0 allowancc) United Fund Net Pay 40 482.1 600 6001600 x 7.65(%-45.9 6641664 x 7.65% = 50.796 598598 x 7.65% = 45.747 637637 x 7.65%-48.7305 600 x 3% 18 568.284 610 1x16.1.5-24 201664 X 3%-19.92 8 x 390-17.94 19.11 466.313 520 4x13x1.5-78 46 520 6x13x1.5- 117 61 190 503.1595 2019.8565 6 TOTAL 2280 219 2499 191.1735 74.97

8 Journal Entries 9 Date 10 Credit ($) Debit (S) Particulars 2499 Mar-15 Salaries & Wages Expense 191.1735 190 74.97 23 2019.8565 TO FICA Tax Pavable TO Federal income tax payabl TO State Income Taxes Pavable TO United Contributions pavable TO Salary & Wages Payable 12 13 14 15 16 17 18 19 20 21 346.115 Mar-15 Pavroll Tax Expense 191.735 134.946 19.992 TO FICA Tax Payable (Employer) TO State Unemployment Tax Pavable TO Federal Unemployment Tax Payable 2019.8565 Mar-16 Salary & Wages Payable 2019.8565 TO Cash 23 24 25 26 27 382.347 190 Mar-31 FICA Tax Payable (191.1735 191.1735) Federal Income Tax payable TO Cash 572.347