[SOLVED] Wayland Custom Woodworking is a firm that manufactures custom cabinets and | SolutionInn
- Complete the headers of the Employees' Earnings Records for all company employees. Enter the YTD earnings for each employee. ??
November 30 is the end of the final pay period for the month. Employee pay will be disbursed on December 3, 201X. Any hours exceeding 88 are considered overtime. Compute the employee gross pay.? Compute the Net Pay for each employee using the payroll register. Once you have computed the net pay, complete the paycheck for each employee (assume that all the employees are paid by check). Date the checks 12/3/1X (current year). The company is closed and pays for the Friday following Thanksgiving. The employees will receive holiday pay for Thanksgiving and the Friday following. For this period, any hours in excess of 88 hours is considered overtime.
Complete the General Journal entries as follows:
30-Nov Journalize employee pay for the period. 30-Nov Journalize employer payroll tax for the November 30 pay date 03-Dec Journalize payment of payroll to employees (use one entry for all checks). 03-Dec Journalize remittance of 401(k) and health insurance premiums deducted 03-Dec Journalize remittance of monthly payroll taxes ? Update the Employees' Earnings Records for the period?s pay and update the YTD amount.? NOTE 1: Do not round intermediate calculations and round hourly rate to 5 decimal places & remaining answers to 2 decimal places. If no entry is required for a transaction/event, select "No journal entry required" in the first account field. ? NOTE 2: When writing out the net amount of an employee's check, be sure to write it in the correct format (e.g. Three Hundred Ninety-nine and 75/100). Be sure to capitalize the letters as shown. Enter all dates in mm/dd/yy format where the year is entered as 1X.? ? ?????????????? Employee Grosspay Name Chinson Wayland Peppinico Varden Hissop Payroll Register Student F Success AC Paycheck Semi-monthly Wage or Hourly rate MW Paycheck Hours Worked 11/16-11/30 88 hours (exempt) 88 hours (exempt) 88 hours (exempt) 90 hours (16 Holiday) SP Paycheck SV Paycheck LH Paycheck 91 hours (16 Holiday) 89 hours (16 Holiday) Regular previous SFS Paycheck Holiday Overtime next General Journal Commission $ 2,325.00 Employee Grosspay Run Date P/R Date Name Payroll Register Anthony Chinson Mark Wayland Sylvia Peppinico Stevon Varden Leonard Hissop Student F Success AC Paycheck MW Paycheck 12/03/1X Company Name 11/30/1X Marital Status No. of Withholdings SP Paycheck SV Paycheck LH Paycheck Wayland Custom Woodworking Hourly Rate or Semi- monthly wage No. of Regular Hours SFS Paycheck No. of Overtime hours General Journal No. of Holiday Hours Commission Gross Earning previ Social Federal Security W/H Tax Medicare W/H State W/H 401(k) Insurance Net Pay Check No Check Date Taxable wages for Federal W/H (After pre tax deductions) Taxable wages for Federal W/H (After pre tax deductions and withholding allowances) Wayland Custom Woodworking 1716 Nichol street Logan, UT 84321 Anthony Chinson Payee: Address: City/State/Zip: Payroll End Date: Employee Name: Description Regular Holiday Commissions Anthony Chinson 530 Sylvann Ave Logan, UT 84321 Total Earnings Earnings Anthony Chinson YTD Gross Signed: Mark Wayland Payroll Pay Date: Employee #: Description Federal W/H SSI Medicare State W/H Pretax Insurance 401(k) Total Deductions Date 00-CHINS Deductions Dollars Check #: Rate: 174574 YTD Deductions 174574 11.54 Wayland Custom Woodworking 1716 Nichol street Logan, UT 84321 Mark Wayland Payee: Address: City/State/Zip: Payroll End Date: Employee Name: Description Regular Holiday Total Earnings Mark Wayland 1570 Lovett St Logan, UT 84321 Earnings Mark Wayland YTD Gross Signed: Mark Wayland Payroll Pay Date: Employee #: Description Federal W/H SSI Medicare State SDI Pretax Insurance 401(k) Total Deductions Date 00-WAYLA Deductions Dollars Check #: Rate: 174575 YTD Deductions 174575 36.06 Wayland Custom Woodworking 1716 Nichol street Logan, UT 84321 Mark Wayland Payee: Address: City/State/Zip: Payroll End Date: Employee Name: Description Regular Holiday Total Earnings Mark Wayland 1570 Lovett St Logan, UT 84321 Earnings Mark Wayland YTD Gross Signed: Mark Wayland Payroll Pay Date: Employee #: Description Federal W/H SSI Medicare State SDI Pretax Insurance 401(k) Total Deductions Date 00-WAYLA Deductions Dollars Check #: Rate: 174575 YTD Deductions 174575 36.06 Wayland Custom Woodworking 1716 Nichol street Logan, UT 84321 Sylvia Peppinico Payee: Address: City/State/Zip: Payroll End Date: Employee Name: Description Regular Holiday Sylvia Peppinico 291 Antioch Rd Logan, UT 84321 Total Earnings Earnings Sylvia Peppinico YTD Gross Signed: Mark Wayland Payroll Pay Date: Employee #: Description Federal W/H SSI Medicare State W/H Pretax Insurance 401(k) Total Deductions Date 01-PEPPI Deductions Dollars Check #: Rate: 174576 YTD Deductions 174576 20.91 Wayland Custom Woodworking 1716 Nichol street Logan, UT 84321 Stevon Varden Payee: Address: City/State/Zip: Payroll End Date: Employee Name: Description Regular Overtime Holiday Stevon Varden 333 Justin Dr Logan, UT 84321 Total Earnings Earnings Stevon Varden YTD Gross Signed: Mark Wayland Payroll Pay Date: Employee #: Description Federal W/H SSI Medicare State W/H Pretax Insurance 401(k) Total Deductions Date 01-VARDE Deductions Dollars Check #: Rate: 174577 YTD Deductions 174577 20.19 Wayland Custom Woodworking 1716 Nichol street Logan, UT 84321 Leonard Hissop Payee: Address: City/State/Zip: Payroll End Date: Employee Name: Description Regular Overtime Holiday Leonard Hissop 531 5th St Logan, UT 84321 Total Earnings Earnings Leonard Hissop YTD Gross Signed: Mark Wayland Payroll Pay Date: Employee #: Description Federal W/H SSI Medicare State W/H Pretax Insurance 401(k) Total Deductions Date 02-HISSO Deductions Dollars Check #: Rate: 174578 YTD Deductions 174578 23.80 Wayland Custom Woodworking 1716 Nichol street Logan, UT 84321 Student F Success Payee: Address: City/State/Zip: Payroll End Date: Employee Name: Description Regular Overtime Holiday Total Earnings Student F Success Address from student City/State/Zip Earnings Student F Success YTD Gross Signed: Mark Wayland Payroll Pay Date: Employee #: Description Federal W/H SSI Medicare State W/H Pretax Insurance 401(k) Total Deductions Date 00-STUDE Deductions Dollars Check #: Rate: 174579 YTD Deductions 174579 17.31 view transaction list Journal Entry Worksheet 123456 view general journal Journalize employee pay. Date Nov 30 done General Journal clear entry Debit Credit *Enter debits before credits record entry Step by Step Solution
3.32 Rating (167 Votes )
There are 3 Steps involved in it To complete Wayland Custom Woodworkings payroll for the final quarter follow these steps Step 1 Calculate Gross Pay For each employee calculate the gr... View full answer Get step-by-step solutions from verified subject matter experts