Manual Payroll Project for an Associates Degree requirement

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This is a 'manual payroll project' for a payroll accounting class. It's completing the attached excel file with information in chapter 7 of the textbook. The instructor says this is a 30 hour project. Copied and pasted the below from Blackboard: Watch the How to Start the Project video. https://drive.google.com/file/d/1nOjjXY-FhYUfZod1ms74hAfORt2HouTm/view Read the chapter and the appendix. Read the important information document. View videos. Read through transaction 1 and follow the entries in the spreadsheet that were completed for you. Your portion of the project begins with transaction 2. You will need to fill out all parts of the excel spreadsheet, including the journal, general ledgers, employees' earnings records, and payroll register. Tax forms will be done within each assignment. The majority of the tax forms are completed in assignment 4. The project is worth 400 points or 40% of your grade. I will be grading for accuracy and completion. The tax papers are shown at the end of the chapter on Mind Tap. The work for tax forms will be done during the each assignment in Blackboard. The transaction number is shown for the tax form. The transaction numbers correspond with the numbers with the dates, ie. December 4 No, 19, 20 and 21.

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Additional Instructions:
Payroll Project—Please print out this sheet This module consists of the completion of a payroll project that encompasses the last Quarter of the year. It will take you about 30 hours to complete. You will complete Employees’ Earnings Records; Journal entries; post to the General Ledger; fill out tax forms 941, 940, W-2, W-3, 1099, 1096, PA state tax, Philadelphia city tax forms.. The link to the spreadsheet and forms and Additional Templates are in this module. See the list below to see which forms will be uploaded and which forms you will fill out and use to answer questions in the Audit Quiz. Any uploaded form will be graded by the instructor. Be sure to read the beginning of the chapter to get information on policies and procedures. File or Document Save or Print out Where to turn in Payroll Project Excel File Yourlastname_PRP Upload in Payroll Audit Quiz Payroll Project Form 941 Completed in link December and January forms Payroll Project Form 940 Completed in link December and January forms Payroll Project W-2 Forms Completed in link December and January forms, transaction 10 and transaction 24 Payroll Project W-3 Form Completed in link December and January forms Payroll Project 1099 Completed in link December and January forms Payroll Project 1096 Completed in link December and January forms Payroll Project state quarter form Completed in link December and January forms Payroll Project Philadelphia city tax quarterly form Completed in link December and January forms Federal 941 deposit Audit quiz questions State deposits Audit quiz Federal 940 deposit Audit quiz The instructions are located in Chapter 7 of your text. Read the information before the start of the payroll project for important information as to how to handle rounding, overtime, timekeeping, and payroll taxes. The Excel template contains the journal, ledger, payroll register, and employee’s earning records. Start with the Payroll Register. The spreadsheet has checkpoints and will tell you if your totals are correct. Checkpoints are located to the far right of the payroll register. You may email me your partially completed spreadsheet if you’re having problems getting to the correct answers and I will troubleshoot. (Most often it’s rounding). Begin with the payroll register (Excel spreadsheet) then post to the employee’s earning records. Next journalize the payroll register and post to the general ledger. The October 9 payroll has already been completed for you. It’s a good idea to trace the transactions from the book to the spreadsheet. Double check the calculations to make sure you get the same number located on the spreadsheet. The first transaction that you will complete is transaction 2 payment of state taxes for the October 9 payroll. Look at the October 9 payroll state tax payable and pay that amount. The journal entry will be State income tax payable debit and cash credit. The second transaction will be October 26 payroll. The numbers will be different, but the same debits and credits will be used for each payroll. Transactions 10 and 24 forms will be completed with the link within the project. Transactions 35 – 42 and 44 will be completed within the link December and January tax forms. Complete the journal entries for payment of each of the transactions that require a payment. You will upload your files and answer questions about the problem in the Payroll Project Audit Post-Test. See the table above to see what you should do for each file. Unlike other tests, the Audit Test is not automatically graded—the instructor will do so. ACT 1964 Fall 2018
First read chapter 7. The beginning explains how to do each section of the spreadsheet. Each pay period shows changes made. While reading the chapter, it will help if you follow along with the spreadsheet with the previous payrolls. If you need help with Excel, read appendix b, which is included in the text. Also, changes were made to payroll after the last paycheck. You cannot do this project right if you only copy the info from the previous payroll. Here is information that is from a few days before payroll that has a direct effect on December 4 payroll. Complete each numbered transaction as it falls. For any questions on the tax forms, please contact me and I will help you understand how to fill them out. When paying union dues, insurance, SIT, CIT, SUTA, FUTA, FIT, and FICA, you need to make sure that you are looking at the correct dates. The best plan to complete this project is to make changes in the employee records as the project informs you of them. Enter payroll into the register and employee records for each payroll. Then, enter the journal from the register, and then enter the journal entries into each general ledger. Follow this same sequence when entering other journal entries. The last entries will be for Feb 1. This is a checkpoint for employee earnings page. Enter the checkpoint amounts for quarterly and yearly cumulative and net earnings for each employee. The spreadsheet will give notice for incorrect checkpoint answers. These are the checkpoints for the payroll register. There are checkpoints for each payroll. These checkpoints must be filled out for full credit on the project and will let you know if your number is correct. Enter the total for each payroll into the checkpoints. These are the checkpoints for the general ledger. There is one for every account. All of them must be filled out for full credit. Enter the balance for each account. Make sure to enter it as either a debit or credit based on the account. These are the checkpoints for the journal. Enter the amount in checkpoint as the total shown in the highlighted section. The second arrow shows where debit and credit totals are shown. Check this number after each journal entry to make sure that the debits and credits are equal. The picture below shows the message that will pop-up for an incorrect answer. The spreadsheet will not give any popup for a correct answer. These checkpoints are on each sheet in the workbook. Incorrect Answer Remember that the Post Ref for the journal is the account number for each account in the journal entry and the Post Ref for the general ledger is the page number of the journal entry that is being referenced (entered) Post ref for general ledger is the page on the journal where the entry was placed.
Excel Instructions Excel Instructions CAUTION: Read Appendix A for specific instructions relating to these templates. 1. Enter the appropriate numbers/formulas in the shaded (gray) cells. An asterisk (*) will appear to the right of an incorrect answer. 2. A formula begins with an equals sign (=) and can consist of any of the following elements: Operators such as + (for addition), - (for subtraction), * (for multiplication), and / (for division). Cell references, including cell addresses such as B52, as well as named cells and ranges Values and text Worksheet functions (such as SUM) 3. You can enter a formula into a cell manually (typing it in) or by pointing to the cells. To enter a formula manually, follow these steps: Move the cell pointer to the cell that you want to hold the formula. Type an equals sign (=) to signal the fact that the cell contains a formula. Type the formula, then press Enter. 4. Rounding: These templates have been formatted to round numbers to either the nearest whole number or the nearest cent. For example, 17.65 x 1.5=26.475. The template will display and hold 26.48, not 26.475. There is no need to use Excel's rounding function. 5. Remember to save your work. When saving your workbook, Excel overwrites the previous copy of your file. You can save your work at any time. You can save the file to the current name, or you may want to keep multiple versions of your work by saving each successive version under a different name. To save to the current name, you can select File, Save from the menu bar or click on the disk icon in the standard toolbar. It is recommended that you save the file to a new name that identifies the file as yours, such as Chapter_7_long_version_Your_Name.xlsx To save under a different name, follow these steps: Select File, Save As to display the Save As Type drop-box, chose Excel Workbook (*.xlsx) Select the folder in which to store the workbook. Enter the new filename in the File name box. Click Save. Journal JOURNAL Page 41 DATE DESCRIPTION POST. REF. DEBIT CREDIT 20-- Oct. 9 Payroll Cash 12 12,291.11 Cash 11 12,291.11 9 Administrative Salaries 51 2,307.69 Office Salaries 52 4,651.08 Sales Salaries 53 3,600.00 Plant Wages 54 4,898.00 FICA Taxes Payable - OASDI 20.1 958.33 FICA Taxes Payable - HI 20.2 224.14 Employees FIT Payable 24 882.00 Employees SIT Payable 25 474.55 Employees SUTA Payable 25.1 9.25 Employees CIT Payable 26 601.39 Union Dues Payable 28 16.00 Payroll Cash 12 12,291.11 9 Payroll Taxes 56 1,381.61 FICA Taxes Payable - OASDI 20.1 958.32 FICA Taxes Payable - HI 20.2 224.12 FUTA Taxes Payable 21 22.91 SUTA Taxes Payable - Employer 22 176.26 JOURNAL Page 42 DATE DESCRIPTION POST. REF. DEBIT CREDIT 20-- JOURNAL Page 43 DATE DESCRIPTION POST. REF. DEBIT CREDIT 20-- JOURNAL Page 44 DATE DESCRIPTION POST. REF. DEBIT CREDIT 20-- JOURNAL Page 45 DATE DESCRIPTION POST. REF. DEBIT CREDIT 20-- JOURNAL Page 46 DATE DESCRIPTION POST. REF. DEBIT CREDIT 20-- JOURNAL Page 47 DATE DESCRIPTION POST. REF. DEBIT CREDIT 20-- 31-Jan 31-Dec 30-Nov 31-Oct 29,129.49 29,129.49 29,129.49 29,129.49 0.00 0.00 0.00 0.00 29,129.49 29,129.49 29,129.49 29,129.49 JOURNAL Page 48 DATE DESCRIPTION POST. REF. DEBIT CREDIT 20-- JOURNAL Page 49 DATE DESCRIPTION POST. REF. DEBIT CREDIT 20-- JOURNAL Page 50 DATE DESCRIPTION POST. REF. DEBIT CREDIT 20-- Total debits and credits (calculated automatically): 29,129.49 29,129.49 Your debits and credits should be equal after each journal entry is complete Cumulative Journal Checkpoint Through Month Ending October 31, 20-- December 31, 20-- November 30, 20-- January 31, 20-- General Ledger GENERAL LEDGER Checkpoints ACCOUNT: CASH ACCOUNT NO. 11 Debit Credit Balance Balance POST. BALANCE Oct. 31, 20-- DATE ITEM REF. DEBIT CREDIT DEBIT CREDIT Nov. 30, 20-- 20-- Dec. 31, 20-- Oct. 1 Balance a 199,846.33 9 J41 12,291.11 187,555.22 ACCOUNT: PAYROLL CASH ACCOUNT NO. 12 Checkpoints Debit Credit POST. BALANCE Balance Balance DATE ITEM REF. DEBIT CREDIT DEBIT CREDIT Oct. 31, 20-- 20-- Nov. 30, 20-- Oct. 9 J41 12,291.11 12,291.11 Dec. 31, 20-- 9 J41 12,291.11 0.00 ACCOUNT: FICA TAXES PAYABLE - OASDI ACCOUNT NO. 20.1 Checkpoints Debit Credit POST. BALANCE Balance Balance DATE ITEM REF. DEBIT CREDIT DEBIT CREDIT Oct. 31, 20-- 20-- Nov. 30, 20-- Oct. 9 J41 958.33 958.33 Dec. 31, 20-- 9 J41 958.32 1,916.65 ACCOUNT: FICA TAXES PAYABLE - HI ACCOUNT NO. 20.2 Checkpoints Debit Credit POST. BALANCE Balance Balance DATE ITEM REF. DEBIT CREDIT DEBIT CREDIT Oct. 31, 20-- 20-- Nov. 30, 20-- Oct. 9 J41 224.14 224.14 Dec. 31, 20-- 9 J41 224.12 448.26 ACCOUNT: FUTA TAXES PAYABLE ACCOUNT NO. 21 Checkpoints Debit Credit POST. BALANCE Balance Balance DATE ITEM REF. DEBIT CREDIT DEBIT CREDIT Oct. 31, 20-- 20-- Nov. 30, 20-- Oct. 1 Balance a 392.94 Dec. 31, 20-- 9 J41 22.91 415.85 ACCOUNT: SUTA TAXES PAYABLE - EMPLOYER ACCOUNT NO. 22 Checkpoints Debit Credit POST. BALANCE Balance Balance DATE ITEM REF. DEBIT CREDIT DEBIT CREDIT Oct. 31, 20-- 20-- Nov. 30, 20-- Oct. 9 J41 176.26 176.26 Dec. 31, 20-- ACCOUNT: EMPLOYEES FIT PAYABLE ACCOUNT NO. 24 Checkpoints Debit Credit POST. BALANCE Balance Balance DATE ITEM REF. DEBIT CREDIT DEBIT CREDIT Oct. 31, 20-- 20-- Nov. 30, 20-- Oct. 9 J41 882.00 882.00 Dec. 31, 20-- ACCOUNT: EMPLOYEES SIT PAYABLE ACCOUNT NO. 25 Checkpoints Debit Credit POST. BALANCE Balance Balance DATE ITEM REF. DEBIT CREDIT DEBIT CREDIT Oct. 31, 20-- 20-- Nov. 30, 20-- Oct. 9 J41 474.55 474.55 Dec. 31, 20-- ACCOUNT: EMPLOYEES SUTA PAYABLE ACCOUNT NO. 25.1 Checkpoints Debit Credit POST. BALANCE Balance Balance DATE ITEM REF. DEBIT CREDIT DEBIT CREDIT Oct. 31, 20-- 20-- Nov. 30, 20-- Oct. 9 J41 9.25 9.25 Dec. 31, 20-- ACCOUNT: EMPLOYEES CIT PAYABLE ACCOUNT NO. 26 Checkpoints Debit Credit POST. BALANCE Balance Balance DATE ITEM REF. DEBIT CREDIT DEBIT CREDIT Oct. 31, 20-- 20-- Nov. 30, 20-- Oct. 9 J41 601.39 601.39 Dec. 31, 20-- ACCOUNT: GROUP INSURANCE PREMIUMS COLLECTED ACCOUNT NO. 27 Checkpoints Debit Credit POST. BALANCE Balance Balance DATE ITEM REF. DEBIT CREDIT DEBIT CREDIT Oct. 31, 20-- 20-- Nov. 30, 20-- Dec. 31, 20-- ACCOUNT: UNION DUES PAYABLE ACCOUNT NO. 28 Checkpoints Debit Credit POST. BALANCE Balance Balance DATE ITEM REF. DEBIT CREDIT DEBIT CREDIT Oct. 31, 20-- 20-- Nov. 30, 20-- Oct. 9 J41 16.00 16.00 Dec. 31, 20-- ACCOUNT: SIMPLE CONTRIBUTIONS PAYABLE ACCOUNT NO. 29 Checkpoints Debit Credit POST. BALANCE Balance Balance DATE ITEM REF. DEBIT CREDIT DEBIT CREDIT Oct. 31, 20-- 20-- Nov. 30, 20-- Dec. 31, 20-- ACCOUNT: ADMINISTRATIVE SALARIES ACCOUNT NO. 51 Checkpoints Debit Credit POST. BALANCE Balance Balance DATE ITEM REF. DEBIT CREDIT DEBIT CREDIT Oct. 31, 20-- 20-- Nov. 30, 20-- Oct. 1 Balance a 42,692.27 Dec. 31, 20-- 9 J41 2,307.69 44,999.96 ACCOUNT: OFFICE SALARIES ACCOUNT NO. 52 Checkpoints Debit Credit POST. BALANCE Balance Balance DATE ITEM REF. DEBIT CREDIT DEBIT CREDIT Oct. 31, 20-- 20-- Nov. 30, 20-- Oct. 1 Balance a 28,350.00 Dec. 31, 20-- 9 J41 4,651.08 33,001.08 ACCOUNT: SALES SALARIES ACCOUNT NO. 53 Checkpoints Debit Credit POST. BALANCE Balance Balance DATE ITEM REF. DEBIT CREDIT DEBIT CREDIT Oct. 31, 20-- 20-- Nov. 30, 20-- Oct. 1 Balance a 28,525.00 Dec. 31, 20-- 9 J41 3,600.00 32,125.00 ACCOUNT: PLANT WAGES ACCOUNT NO. 54 Checkpoints Debit Credit POST. BALANCE Balance Balance DATE ITEM REF. DEBIT CREDIT DEBIT CREDIT Oct. 31, 20-- 20-- Nov. 30, 20-- Oct. 1 Balance a 42,657.30 Dec. 31, 20-- 9 J41 4,898.00 47,555.30 ACCOUNT: PAYROLL TAXES ACCOUNT NO. 56 Checkpoints Debit Credit POST. BALANCE Balance Balance DATE ITEM REF. DEBIT CREDIT DEBIT CREDIT Oct. 31, 20-- 20-- Nov. 30, 20-- Oct. 1 Balance a 14,353.07 Dec. 31, 20-- 9 J41 1,381.61 15,734.68 Payroll Register PAYROLL REGISTER GLO-BRITE PAINT COMPANY Marital Status No. W/H Allow. Time Record Regular Earnings Overtime Earnings Total Earnings Deductions Net Paid Taxable Earnings Labor Cost Distribution NAME S M T W T F S S M T W T F S Hrs. Rate Per Hour Amount Hrs. Rate Per Hour Amount OASDI HI FIT SIT SUTA CIT Group Ins. Union Dues SIMPLE Ck. No. Amount OASDI HI FUTA SUTA Admin. Office Sales Plant Payday, October 9, 20-- For Period Ending October 3, 20-- Checkpoints Bonno, A. M 4 8 8 8 8 8 8 8 8 8 8 80 17.60 1,408.00 1,408.00 87.30 20.42 33.00 43.23 0.84 54.78 8.00 672 1,160.43 1,408.00 1,408.00 1,408.00 Total earnings 15,456.77 Ferguson, J. M 5 8 8 8 8 8 8 8 8 8 8 80 2,250.00 2,250.00 139.50 32.63 107.00 69.08 1.35 87.54 673 1,812.90 2,250.00 2,250.00 2,250.00 Net paid 12,291.11 Ford, C. S 2 8 8 8 8 8 8 8 8 8 8 80 1,220.00 1,220.00 75.64 17.69 85.00 37.45 0.73 47.47 674 956.02 1,220.00 1,220.00 700.00 1,220.00 1,220.00 Mann, D. M 4 8 8 8 8 8 8 8 8 8 8 80 1,350.00 1,350.00 83.70 19.58 27.00 41.45 0.81 52.52 675 1,124.94 1,350.00 1,350.00 1,350.00 1,350.00 1,350.00 O'Neill, J. M 3 8 8 8 8 8 8 8 8 8 8 80 2,307.69 2,307.69 143.08 33.46 152.00 70.85 1.38 89.79 676 1,817.13 2,307.69 2,307.69 2,307.69 Russell, V. S 1 8 8 8 8 8 8 8 8 8 8 80 1,200.00 1,200.00 74.40 17.40 102.00 36.84 0.72 46.69 677 921.95 1,200.00 1,200.00 760.00 1,200.00 1,200.00 Ryan, N. M 4 8 8 8 8 8 8 8 8 8 8 80 18.00 1,440.00 1,440.00 89.28 20.88 35.00 44.21 0.86 56.03 8.00 678 1,185.74 1,440.00 1,440.00 1,440.00 Sokowski, T. M 2 8 8 8 8 8 8 8 8 8 8 80 2,050.00 2,050.00 127.10 29.73 140.00 62.94 1.23 79.76 679 1,609.24 2,050.00 2,050.00 2,050.00 (Student) S 1 8 8 8 8 4 8 8 8 8 4 72 14.00 1,008.00 1,008.00 62.50 14.62 78.00 30.95 0.60 39.22 680 782.11 1,008.00 1,008.00 1,008.00 1,008.00 1,008.00 Williams, R. S 0 8 8 D 8 8 8 8 8 8 8 80 1,223.08 1,223.08 75.83 17.73 123.00 37.55 0.73 47.59 681 920.65 1,223.08 1,223.08 1,223.08 TOTALS 15,456.77 15,456.77 958.33 224.14 882.00 474.55 9.25 601.39 0.00 16.00 0.00 12,291.11 15,456.77 15,456.77 3,818.00 4,778.00 2,307.69 4,651.08 3,600.00 4,898.00 Payday, October 23, 20-- For Period Ending October 17, 20-- Checkpoints Bonno, A. Total earnings Ferguson, J. Net paid Ford, C. Mann, D. O'Neill, J. Russell, V. Ryan, N. Sokowski, T. (Student) Williams, R. TOTALS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Payday, November 6, 20-- For Period Ending October 31, 20-- Checkpoints Bonno, A. Total earnings Ferguson, J. Net paid Ford, C. Mann, D. O'Neill, J. Russell, V. Ryan, N. Sokowski, T. (Student) Williams, R. TOTALS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Payday, November 13, 20-- For Period Ending November 14, 20-- Checkpoints Williams, R. Total earnings Net paid TOTALS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Payday, November 20, 20-- For Period Ending November 14, 20-- Checkpoints Bonno, A. Total earnings Ferguson, J. Net paid Ford, C. Mann, D. O'Neill, J. Russell, V. Ryan, N. Sokowski, T. (Student) TOTALS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Payday, December 4, 20-- For Period Ending November 28, 20-- Checkpoints Bonno, A. Total earnings Ferguson, J. Net paid Ford, C. Mann, D. O'Neill, J. Russell, V. Ryan, N. Sokowski, T. (Student) Woods, B. TOTALS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Payday, December 14, 20-- For Period Ending December 12, 20-- Checkpoints Russell, V. Total earnings Net paid TOTALS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Payday, December 18, 20-- For Period Ending December 12, 20-- Checkpoints Bonno, A. Total earnings Ferguson, J. Net paid Ford, C. Mann, D. O'Neill, J. Ryan, N. Sokowski, T. (Student) Woods, B. Young, P. TOTALS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Checkpoints-Annual Total earnings Qtr's taxable OASDI earnings Quarter Totals 15,456.77 958.33 224.14 882.00 474.55 9.25 601.39 0.00 16.00 0.00 12,291.11 15,456.77 15,456.77 3,818.00 4,778.00 2,307.69 4,651.08 3,600.00 4,898.00 Total earnings for FIT Annual Totals 157,681.34 9,776.25 2,286.41 16,799.00 4,840.84 94.59 6,134.92 930.40 160.00 0.00 116,658.93 157,681.34 157,681.34 69,308.00 88,268.00 44,999.96 33,001.08 32,125.00 47,555.30 Total earnings for SIT/CIT Total earnings for FUTA Employees' Earnings Records DEPARTMENT OCCUPATION WORKS IN (STATE) SEX S.S. ACCOUNT NO. NAME - LAST FIRST MIDDLE Plant Mixer Operator PA M F 000-00-3481 BONNO Anthony Victor x OTHER DEDUCTIONS INFORMATION SALARY $ W/H MARITAL GROUP INSURANCE UNION DUES OTHER WEEKLY RATE $ ALLOW. STATUS $55,000 --$.30/M $8 each pay HOURLY RATE $ 17.60 4 M OVERTIME RATE $ 26.40 M 20___ REGULAR EARNINGS OVERTIME EARNINGS CUMULATIVE DEDUCTIONS NET PAID F PAYDAY HRS. RATE AMOUNT HRS. RATE AMOUNT EARNINGS FICA FIT SIT SUTA CIT SIMPLE OTHER CK. OASDI HI DEDUCTIONS NO. AMOUNT YEAR-TO-DATE 10,293.40 1,028.60 11,322.00 701.96 164.17 810.00 347.59 6.79 440.51 216.80 8,634.18 1 10/9 80 17.60 1,408.00 0.00 12,730.00 87.30 20.42 33.00 43.23 0.84 54.78 8.00 672 1,160.43 2 10/23 0.00 3 11/6 0.00 4 11/20 0.00 5 12/4 0.00 6 12/18 0.00 QTR. TOT. YR. TOT. Checkpoint Checkpoint DEPARTMENT OCCUPATION WORKS IN (STATE) SEX S.S. ACCOUNT NO. NAME - LAST FIRST MIDDLE Sales Sales Manager PA M F 000-00-8645 FERGUSON James Claude x OTHER DEDUCTIONS INFORMATION SALARY $ 58,500 /yr. W/H MARITAL GROUP INSURANCE UNION DUES OTHER WEEKLY RATE $ 1,125.00 ALLOW. STATUS $88,000 -- $.30/M HOURLY RATE $ 28.13 5 M OVERTIME RATE $ 20___ REGULAR EARNINGS OVERTIME EARNINGS CUMULATIVE DEDUCTIONS NET PAID PAYDAY HRS. RATE AMOUNT HRS. RATE AMOUNT EARNINGS FICA FIT SIT SUTA CIT SIMPLE OTHER CK. OASDI HI DEDUCTIONS NO. AMOUNT YEAR-TO-DATE 23,125.00 23,125.00 1,433.75 335.31 2,291.00 709.94 13.88 899.72 132.30 17,309.10 1 10/9 80 2,250.00 25,375.00 139.50 32.63 107.00 69.08 1.35 87.54 673 1,812.90 2 10/23 3 11/6 4 11/20 5 12/4 6 12/18 QTR. TOT. YR. TOT. Checkpoint Checkpoint DEPARTMENT OCCUPATION WORKS IN (STATE) SEX S.S. ACCOUNT NO. NAME - LAST FIRST MIDDLE Office Executive Secretary PA M F 000-00-4567 FORD Catherine Louise x OTHER DEDUCTIONS INFORMATION SALARY $ 2,643.33 /mo. W/H MARITAL GROUP INSURANCE UNION DUES OTHER WEEKLY RATE $ 610.00 ALLOW. STATUS $48,000--$.30/M HOURLY RATE $ 15.25 2 S OVERTIME RATE $ 22.88 20___ REGULAR EARNINGS OVERTIME EARNINGS CUMULATIVE DEDUCTIONS NET PAID PAYDAY HRS. RATE AMOUNT HRS. RATE AMOUNT EARNINGS FICA FIT SIT SUTA CIT SIMPLE OTHER CK. OASDI HI DEDUCTIONS NO. AMOUNT YEAR-TO-DATE 6,300.00 6,300.00 390.60 91.35 639.00 193.41 3.78 245.11 37.80 4,698.95 1 10/9 80 1,220.00 7,520.00 75.64 17.69 85.00 37.45 0.73 47.47 674 956.02 2 10/23 3 11/6 4 11/20 5 12/4 6 12/18 QTR. TOT. YR. TOT. Checkpoint Checkpoint DEPARTMENT OCCUPATION WORKS IN (STATE) SEX S.S. ACCOUNT NO. NAME - LAST FIRST MIDDLE Sales Sales Representative PA M F 000-00-9352 MANN Dewey Wilson x OTHER DEDUCTIONS INFORMATION SALARY $ 2,925 /mo. W/H MARITAL GROUP INSURANCE UNION DUES OTHER WEEKLY RATE $ 675.00 ALLOW. STATUS $53,000 -- $.30/M HOURLY RATE $ 16.88 4 M OVERTIME RATE $ 20___ REGULAR EARNINGS OVERTIME EARNINGS CUMULATIVE DEDUCTIONS NET PAID PAYDAY HRS. RATE AMOUNT HRS. RATE AMOUNT EARNINGS FICA FIT SIT SUTA CIT SIMPLE OTHER CK. OASDI HI DEDUCTIONS NO. AMOUNT YEAR-TO-DATE 5,400.00 5,400.00 334.80 78.30 332.00 165.78 3.24 210.10 31.50 4,244.28 1 10/9 80 1,350.00 6,750.00 83.70 19.58 27.00 41.45 0.81 52.52 675 1,124.94 2 10/23 3 11/6 4 11/20 5 12/4 6 12/18 QTR. TOT. YR. TOT. Checkpoint Checkpoint DEPARTMENT OCCUPATION WORKS IN (STATE) SEX S.S. ACCOUNT NO. NAME - LAST FIRST MIDDLE Admini- strative President PA M F 000-00-1534 O'NEILL Joseph Tyler x OTHER DEDUCTIONS INFORMATION SALARY $ 60,000 /yr. W/H MARITAL GROUP INSURANCE UNION DUES OTHER WEEKLY RATE $ 1,153.85 bi-wkly $2,307.69 ALLOW. STATUS $90,000 -- $.30/M HOURLY RATE $ 28.85 3 M OVERTIME RATE $ 20___ REGULAR EARNINGS OVERTIME EARNINGS CUMULATIVE DEDUCTIONS NET PAID PAYDAY HRS. RATE AMOUNT HRS. RATE AMOUNT EARNINGS FICA FIT SIT SUTA CIT SIMPLE OTHER CK. OASDI HI DEDUCTIONS NO. AMOUNT YEAR-TO-DATE 42,692.27 42,692.27 2,646.92 619.04 6,116.00 1,310.65 25.62 1,661.03 202.50 30,110.51 1 10/9 80 2,307.69 44,999.96 143.08 33.46 152.00 70.85 1.38 89.79 676 1,817.13 2 10/23 3 11/6 4 11/20 5 12/4 6 12/18 QTR. TOT. YR. TOT. Checkpoint Checkpoint DEPARTMENT OCCUPATION WORKS IN (STATE) SEX S.S. ACCOUNT NO. NAME - LAST FIRST MIDDLE Office Time Clerk PA M F 000-00-6337 RUSSELL Virginia Aloise x OTHER DEDUCTIONS INFORMATION SALARY $ 2,600 /mo. W/H MARITAL GROUP INSURANCE UNION DUES OTHER WEEKLY RATE $ 600.00 ALLOW. STATUS $47,000 -- $.30/M HOURLY RATE $ 15.00 1 S OVERTIME RATE $ 22.50 20___ REGULAR EARNINGS OVERTIME EARNINGS CUMULATIVE DEDUCTIONS NET PAID PAYDAY HRS. RATE AMOUNT HRS. RATE AMOUNT EARNINGS FICA FIT SIT SUTA CIT SIMPLE OTHER CK. OASDI HI DEDUCTIONS NO. AMOUNT YEAR-TO-DATE 6,240.00 6,240.00 386.88 90.48 642.00 191.56 3.74 242.78 31.50 4,651.06 1 10/9 80 1,200.00 7,440.00 74.40 17.40 102.00 36.84 0.72 46.69 677 921.95 2 10/23 3 11/6 4 11/20 5 12/4 6 12/14 QTR. TOT. YR. TOT. Checkpoint Checkpoint DEPARTMENT OCCUPATION WORKS IN (STATE) SEX S.S. ACCOUNT NO. NAME - LAST FIRST MIDDLE Plant Electrician PA M F 000-00-1223 RYAN Norman Allen x OTHER DEDUCTIONS INFORMATION SALARY $ W/H MARITAL GROUP INSURANCE UNION DUES OTHER WEEKLY RATE $ ALLOW. STATUS $56,000 -- $.30/M $8 each pay HOURLY RATE $ 18.00 4 M OVERTIME RATE $ 27.00 20___ REGULAR EARNINGS OVERTIME EARNINGS CUMULATIVE DEDUCTIONS NET PAID PAYDAY HRS. RATE AMOUNT HRS. RATE AMOUNT EARNINGS FICA FIT SIT SUTA CIT SIMPLE OTHER CK. OASDI HI DEDUCTIONS NO. AMOUNT YEAR-TO-DATE 13,287.50 1,397.80 14,685.30 910.49 212.94 1,070.00 450.84 8.81 571.36 235.70 11,225.16 1 10/9 80 18.00 1,440.00 0.00 16,125.30 89.28 20.88 35.00 44.21 0.86 56.03 8.00 678 1,185.74 2 10/23 0.00 3 11/6 0.00 4 11/20 0.00 5 12/4 0.00 6 12/18 0.00 QTR. TOT. YR. TOT. Checkpoint Checkpoint DEPARTMENT OCCUPATION WORKS IN (STATE) SEX S.S. ACCOUNT NO. NAME - LAST FIRST MIDDLE Plant Supervisor PA M F 000-00-8832 SOKOWSKI Thomas James x OTHER DEDUCTIONS INFORMATION SALARY $ W/H MARITAL GROUP INSURANCE UNION DUES OTHER WEEKLY RATE $ 1,025.00 ALLOW. STATUS $80,000 -- $.30/M HOURLY RATE $ 25.63 2 M OVERTIME RATE $ 20___ REGULAR EARNINGS OVERTIME EARNINGS CUMULATIVE DEDUCTIONS NET PAID PAYDAY HRS. RATE AMOUNT HRS. RATE AMOUNT EARNINGS FICA FIT SIT SUTA CIT SIMPLE OTHER CK. OASDI HI DEDUCTIONS NO. AMOUNT YEAR-TO-DATE 16,650.00 16,650.00 1,032.30 241.43 2,002.00 511.16 9.99 647.80 94.50 12,110.82 1 10/9 80 2,050.00 18,700.00 127.10 29.73 140.00 62.94 1.23 79.76 679 1,609.24 2 10/23 3 11/6 4 11/20 5 12/4 6 12/18 QTR. TOT. YR. TOT. Checkpoint Checkpoint DEPARTMENT OCCUPATION WORKS IN (STATE) SEX S.S. ACCOUNT NO. NAME - LAST FIRST MIDDLE Office Accounting Trainee PA M F Student OTHER DEDUCTIONS INFORMATION SALARY $ W/H MARITAL GROUP INSURANCE UNION DUES OTHER WEEKLY RATE $ ALLOW. STATUS $39,000 -- $.30/M HOURLY RATE $ 14.00 1 S OVERTIME RATE $ 21.00 20___ REGULAR EARNINGS OVERTIME EARNINGS CUMULATIVE DEDUCTIONS NET PAID PAYDAY HRS. RATE AMOUNT HRS. RATE AMOUNT EARNINGS FICA FIT SIT SUTA CIT SIMPLE OTHER CK. OASDI HI DEDUCTIONS NO. AMOUNT YEAR-TO-DATE 5,550.00 5,550.00 344.10 80.48 409.00 170.38 3.33 215.93 32.40 4,294.38 1 10/9 72 14.00 1,008.00 6,558.00 62.50 14.62 78.00 30.95 0.60 39.22 680 782.11 2 10/23 3 11/6 4 11/20 5 12/4 6 12/18 QTR. TOT. YR. TOT. Checkpoint Checkpoint DEPARTMENT OCCUPATION WORKS IN (STATE) SEX S.S. ACCOUNT NO. NAME - LAST FIRST MIDDLE Office Programmer PA M F 000-00-6741 WILLIAMS Ruth Virginia x OTHER DEDUCTIONS INFORMATION SALARY $ 2,650 /mo. W/H MARITAL GROUP INSURANCE UNION DUES OTHER WEEKLY RATE $ 611.54 ALLOW. STATUS $48,000 -- $.30/M HOURLY RATE $ 15.29 0 S OVERTIME RATE $ 22.94 20___ REGULAR EARNINGS OVERTIME EARNINGS CUMULATIVE DEDUCTIONS NET PAID PAYDAY HRS. RATE AMOUNT HRS. RATE AMOUNT EARNINGS FICA FIT SIT SUTA CIT SIMPLE OTHER CK. OASDI HI DEDUCTIONS NO. AMOUNT YEAR-TO-DATE 10,260.00 10,260.00 636.12 148.77 1,606.00 314.98 6.16 399.19 59.40 7,089.38 1 10/9 80 1,223.08 11,483.08 75.83 17.73 123.00 37.55 0.73 47.59 681 920.65 2 10/23 3 11/6 4 11/13 5 6 QTR. TOT. YR. TOT. Checkpoint Checkpoint DEPARTMENT OCCUPATION WORKS IN (STATE) SEX S.S. ACCOUNT NO. NAME - LAST FIRST MIDDLE M F OTHER DEDUCTIONS INFORMATION SALARY $ W/H MARITAL GROUP INSURANCE UNION DUES OTHER WEEKLY RATE $ ALLOW. STATUS HOURLY RATE $ OVERTIME RATE $ 20___ REGULAR EARNINGS OVERTIME EARNINGS CUMULATIVE DEDUCTIONS NET PAID PAYDAY HRS. RATE AMOUNT HRS. RATE AMOUNT EARNINGS FICA FIT SIT SUTA CIT SIMPLE OTHER CK. OASDI HI DEDUCTIONS NO. AMOUNT YEAR-TO-DATE 1 2 3 4 5 12/4 6 12/18 QTR. TOT. YR. TOT. Checkpoint Checkpoint DEPARTMENT OCCUPATION WORKS IN (STATE) SEX S.S. ACCOUNT NO. NAME - LAST FIRST MIDDLE M F OTHER DEDUCTIONS INFORMATION SALARY $ W/H MARITAL GROUP INSURANCE UNION DUES OTHER WEEKLY RATE $ ALLOW. STATUS HOURLY RATE $ OVERTIME RATE $ 20___ REGULAR EARNINGS OVERTIME EARNINGS CUMULATIVE DEDUCTIONS NET PAID PAYDAY HRS. RATE AMOUNT HRS. RATE AMOUNT EARNINGS FICA FIT SIT SUTA CIT SIMPLE OTHER CK. OASDI HI DEDUCTIONS NO. AMOUNT YEAR-TO-DATE 1 2 3 4 5 6 12/18 QTR. TOT. YR. TOT. Checkpoint Checkpoint DEPARTMENT OCCUPATION WORKS IN (STATE) SEX S.S. ACCOUNT NO. NAME - LAST FIRST MIDDLE M F OTHER DEDUCTIONS INFORMATION SALARY $ W/H MARITAL GROUP INSURANCE UNION DUES OTHER WEEKLY RATE $ ALLOW. STATUS HOURLY RATE $ OVERTIME RATE $ 20___ REGULAR EARNINGS OVERTIME EARNINGS CUMULATIVE DEDUCTIONS NET PAID PAYDAY HRS. RATE AMOUNT HRS. RATE AMOUNT EARNINGS FICA FIT SIT SUTA CIT SIMPLE OTHER CK. OASDI HI DEDUCTIONS NO. AMOUNT YEAR-TO-DATE 1 2 3 4 5 6 QTR. TOT. YR. TOT. DEPARTMENT OCCUPATION WORKS IN (STATE) SEX S.S. ACCOUNT NO. NAME - LAST FIRST MIDDLE M F OTHER DEDUCTIONS INFORMATION SALARY $ W/H MARITAL GROUP INSURANCE UNION DUES OTHER WEEKLY RATE $ ALLOW. STATUS HOURLY RATE $ OVERTIME RATE $ 20___ REGULAR EARNINGS OVERTIME EARNINGS CUMULATIVE DEDUCTIONS NET PAID PAYDAY HRS. RATE AMOUNT HRS. RATE AMOUNT EARNINGS FICA FIT SIT SUTA CIT SIMPLE OTHER CK. OASDI HI DEDUCTIONS NO. AMOUNT YEAR-TO-DATE 1 2 3 4 5 6 QTR. TOT. YR. TOT.

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the investment detective case solutions - case study

The investment Detective case solutions

Answer Q1:

We can rank the projects by simply inspecting the cash flows (mention bellow), yet it’s not a good measure to rank them.

We can’t rank the projects by only simple inspection of the cash flows because of the time value of money and cost of capital of companies. We use capital budgeting tools to measure financial performance of projects.

The Ranking by simply inspecting the cash flows:

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