# Olney Company Inc Payroll Register Answers

Topics: Payroll tax, Tax, Federal Insurance Contributions Act tax Pages: 4 (736 words) Published: May 8, 2013
Name: Amber Smith CAUTION: See "round" rules in Excel Instructions before calculating OT for slaried 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-B

OLNE

PAY
FOR PERIOD ENDING

January 8, 20 - NO. OF W/H ALLOW. HOURS WORKE D

REGULAR EARNINGS RATE PER HOUR

OVERTIME EARNINGS
HOURS WORKE D

MARITAL STATUS

EMPLOYEE

AMOUNT

RATE PER HOUR

TOTAL AMOUNT EARNINGS OASDI

FICA HI

11 Mangino, R. 12 Flores, I. 13 Palmetto, C. 21 Waters, R. 22 Kroll, C. 31 Ruppert, C. 32 Scott, W. 33 Wickman, S. 51 Foley, L. 99 Olney, M. Totals

S S M M S M M S M M

1 0 2 3 2 3 4 1 5 7

40 40 38.5 40 40 40 40 40 40 40

\$

8.50 9.25 7.80 10.70 13.80

340.00 370.00 300.30 428.00 552.00 800.00 780.00 807.69 1,038.46 1,500.00 6,916.45 5 \$38.94 1 1/4 \$30.00 7 \$16.05 10 \$13.88 138.80 112.35 37.50 194.70 483.35

340.00 508.80 300.30 540.35 552.00 837.50 780.00 807.69 1,233.16 1,500.00 7,399.80

14.28 21.37 12.61 22.69 23.18 35.18 32.76 33.92 51.79 63.00 310.79

4.93 7.38 4.35 7.84 8.00 12.14 11.31 11.71 17.88 21.75 107.30

JOURNAL
DATE DESCRIPTION DEBIT CREDIT

Net FUTA SUTA

20-Jan. 12

Wages and Salaries

7,399.80

FICA Taxes Payable - OASDI FICA Taxes Payable - HI Employees FIT Payable Employees SIT Payable Employees SUTA Payable Employees CIT Payable SIMPLE Deductions Payable Group Insurance Premiums Collected Health Insurance Premiums Collected Salaries Payable Jan. 12 Payroll Taxes FICA Taxes Payable - OASDI FICA Taxes Payable - HI FUTA Taxes Payable SUTA Taxes Payable Jan. 14 Salaries Payable Cash 5,708.25 884.50

310.79 107.30 477.17 227.17 5.92 99.90 440.00 6.80 16.50 5,708.25

458.79 107.30 44.40 274.01

807.05

*

OLNEY COMPANY, INC.

PAYROLL REGISTER...