Continuing Payroll Problem, 6A: Chapter 6 You have almost completed the Kipley Company's Employee Payroll Register for t

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Continuing Payroll Problem, 6A: Chapter 6
You have almost completed the Kipley Company's Employee Payroll
Register for the pay period ending January 8, 20--.
In this last task, the following steps will be completed.
Requirements:

Continuing Payroll Problem 6a Chapter 6 You Have Almost Completed The Kipley Company S Employee Payroll Register For T 1 (21.57 KiB) Viewed 63 times

Employee Benefits The table below lists the employee contributions to Group Insurance and Health Insurance. Also, a check number has been assigned to each employee. Note that some employees are not yet eligible for Group Insurance coverage under the company plan. . KIPLEY COMPANY, INC. Insurance Deduction Register Name GRP. INS. HEALTH INS. CK. NO. Carson, F. $0.85 $1.65 313 Wilson, W. 0.85 1.65 314 Utley, H. 0.85 1.65 315 Fife, L. 0.85 1.65 316 Smith, L. 1.65 317 0.85 1.65 318 Fay, G. Robey, G. 0.85 1.65 319 Schork, T. 1.65 320 Hardy, B. 0.85 1.65 321 Kipley, C. 0.85 1.65 322
Completing the Payroll Register The Employee Payroll Register presents all the computations previously performed as it applies to this payroll period. Complete the following steps (if a field should be blank, leave it blank): 1. Record the amount to be withheld for group insurance. 2. Record the amount to be withheld for health insurance. 3. Each worker is to be paid by check. Assign check numbers provided to the correct employee. 4. Compute the net pay for each employee. 5. Total the input columns. KIPLEY COMPANY, INC. Payroll Register For Period Ending January 8, 20-- EARNINGS DEDUCTIONS NET PAY Name Gross OASDI HI FIT SIT SUTA CIT SIMPLE Grp. Ins. Health Ins. Ck. No. Amount Carson, F. $700.00 $43.40 $10.15 $50.00 $21.49 $0.42 $21.00 $20.00 S $ Wilson, W. 897.04 55.62 13.01 69.00 27.54 0.54 26.91 50.00 Utley, H. 678.75 42.08 9.84 16.00 20.84 0.41 20.36 40.00 Fife, L. 877.10 54.38 12.72 35.00 26.93 0.53 26.31 50.00 Smith, L. 790.000 48.98 11.46 61.00 24.25 0.47 23.70 20.00 Fay, G. 539.15 33.43 7.82 2.00 16.55 0.32 16.17 40.00 Robey, G. 623.08 38.63 9.03 10.00 19.13 0.37 18.69 50.00 Schork, T. 773.08 47.93 11.21 53.00 23.73 0.46 23.19 60.00 Hardy, B. 666.11 41.30 9.66 16.00 20.45 0.40 19.98 30.00 Kipley, C 1,000.00 62.00 14.50 46.00 30.70 0.60 30.00 80.00 Totals $467.75 $109.40 $358.00 $231.61 $4.52 $226.31 $440.00 ----
Taxable Earnings The employer's taxes have been calculated on the Totals row of Taxable Earnings in Chapters 3 and 5 using the following rates: -OASDI at 6.2% on the first $137,700 -HI at 1.45% on total earnings -FUTA at 0.6% on the first $7,000 -SUTA at 3.6890% on the first $10,000 Enter the Employer's total payroll taxes for the pay period ending January 8, 20-- KIPLEY COMPANY, INC. Taxable Earnings Payroll Taxes Taxable Earnings Payroll Taxes OASDI HI FUTA SUTA Totals $7,544.31 $467.751 $109.39 $45.27 $278.31
Journal Entry: Recording Payroll Complete the following: Prepare the journal entries as of January 12 to record the payroll and the payroll taxes for the week ending January 8. Credit Salaries Payable for the total net pay. Date Account Debit Credit 20-- Jan. 12 To record payroll. 20-- Jan. 12 To record payroll taxes.
Journal Entry: Payroll Distribution Complete the following: Prepare the journal entry to record the payment of the payroll on January 14 when the paychecks are distributed to all workers. Date Account Debit Credit 20-- Jan. 14