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Chapter 7 Payroll Project Overview

This document is a payroll register for Kipley Company that includes information for 10 employees. It provides details on regular and overtime earnings, deductions, and tax withholdings for the payroll period ending January 20--. Key information includes employee names and numbers, pay rates, hours worked, marital status, deductions, and net pay amounts. Calculations are also shown for total earnings, taxes withheld for Social Security, Medicare, federal and state income taxes, unemployment taxes, and other deductions like insurance premiums.

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Evon Herrera
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6K views5 pages

Chapter 7 Payroll Project Overview

This document is a payroll register for Kipley Company that includes information for 10 employees. It provides details on regular and overtime earnings, deductions, and tax withholdings for the payroll period ending January 20--. Key information includes employee names and numbers, pay rates, hours worked, marital status, deductions, and net pay amounts. Calculations are also shown for total earnings, taxes withheld for Social Security, Medicare, federal and state income taxes, unemployment taxes, and other deductions like insurance premiums.

Uploaded by

Evon Herrera
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Name:

Instructor

Caution: See "round" rules in Excel Instructions before calculating OT for salaried employees.
Enter the appropriate numbers/formulas in the shaded (gray) cells. An asterisk (*) will appear to the right of an incorrect answer.
For a breakdown of the solution by chapter, see the worksheet tabs labeled CPP 2 through 6 representing the solutions for chapters 2-6.
Continuing Payroll Problem-A

REGULAR EARNINGS
RATE PER
HOUR

OVERTIME EARNINGS
HOURS
WORKE
D

NO. OF W/H
ALLOW.
HOURS
WORKE
D

EMPLOYEE

January 8, 20 - -

MARITAL
STATUS

FOR PERIOD ENDING

RATE PER
HOUR

$7.50

300.00

12.60

4.35

$10.88

87.04

377.04

15.84

5.47

$12.15

303.75

12.76

4.40

$11.85

71.10

387.10

16.26

5.61

$14.63

390.00

16.38

5.66

$19.32

24.15

539.15

22.64

7.82

392.31

$14.71

392.31

16.48

5.69

542.31

$20.34

542.31

22.78

7.86

52.28

400.74

16.83

5.81

234.57

1,000.00
4,632.40

42.00
194.57

14.50
67.17

AMOUNT

11 Carson, Fran M.

40

$7.50

300.00

12 Wilson, William A.

40

$7.25

290.00

13 Utley, Harry T.

37.5

$8.10

303.75

21 Fife, Lawrence R.

40

$7.90

316.00

22 Smith, Lucy K.

40

$9.75

390.00

31 Fay, Gretchen R.

40

515.00

32 Robey, Glenda B.

40

33 Schork, Thomas K.

44

51 Hardy, Barbara T.

40

348.46

99 Kipley, Carson C.
Totals

40

1,000.00
4,397.83

6
1.25

$13.07

AMOUNT

TOTAL
EARNINGS

JOURNAL
DATE

20--

DESCRIPTION

DEBIT

CREDIT

FICA
OASDI

HI

Jan. 12

Wages and Salaries

4,632.40

FICA Taxes Payable - OASDI


FICA Taxes Payable - HI

67.17

Employees FIT Payable

156.00

Employees SIT Payable

142.21

Employees SUTA Payable

3.69

Employees CIT Payable

138.96

SIMPLE Deductions Payable

440.00

Group Insurance Premiums Collected

6.80

Health Insurance Premiums Collected

16.50

Salaries Payable
Jan. 12

Payroll Taxes

3,466.50
553.71

FICA Taxes Payable - OASDI

Jan. 14

Net FUTA
194.57

287.21

FICA Taxes Payable - HI

67.17

FUTA Taxes Payable

27.79

SUTA Taxes Payable

171.54

Salaries Payable
Cash

3,466.50
3,466.50

SUTA

KIPLEY COMPANY, INC.

PAYROLL REGISTER

DEDUCTIONS

FIT

SIT

SUTA

NET PAY

CIT

SIMPLE

GROUP
INSURANCE

HEALTH
CHECK
INSURANCE
NO.

AMOUNT

TAXABLE EARNINGS

OASDI

HI

17.00

9.21

0.24

9.00

20.00

0.85

1.65

313

225.10

300.00

300.00

34.00

11.58

0.30

11.31

50.00

0.85

1.65

314

246.04

377.04

377.04

9.33

0.24

9.11

40.00

0.85

1.65

315

225.41

303.75

303.75

11.88

0.31

11.61

50.00

0.85

1.65

316

288.93

387.10

387.10

20.00

11.97

0.31

11.70

20.00

1.65

317

302.33

390.00

390.00

12.00

16.55

0.43

16.17

40.00

0.85

1.65

318

421.04

539.15

539.15

0.85

1.65

319

293.52

392.31

392.31

1.65

320

369.67

542.31

542.31

12.04

0.31

11.77

50.00

47.00

16.65

0.43

16.27

60.00

12.30

0.32

12.02

30.00

0.85

1.65

321

320.96

400.74

400.74

26.00
156.00

30.70
142.21

0.80
3.69

30.00
138.96

80.00
440.00

0.85
6.80

1.65
16.50

322

773.50
3,466.50

1,000.00
4,632.40

1,000.00
4,632.40

Taxable
Earnings

Rate

Net
FUTA Tax

4,632.40

0.006

27.79
SUTA Tax

4,632.40

0.03703

171.54

TAXABLE EARNINGS

FUTA

SUTA

300.00

300.00

377.04

377.04

303.75

303.75

387.10

387.10

390.00

390.00

539.15

539.15

392.31

392.31

542.31

542.31

400.74

400.74

1,000.00
4,632.40

1,000.00
4,632.40

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