Journalize the payroll on march 15 2012 and the accrual of


Stine Hardware has four employees who are paid on an hourly basis plus time and- a half for all hours worked in excess of 40 a week. Payroll data for the week ended March 15, 2012, are presented below.




Federal



Hours

Hourly

Income Tax

United

Employee

Worked

Rate

Withholdings

Fund

Joe Feldon

40

$14.00

$ ?

$5.00

Mary Norten

42

13

?

5

Andy Renfro

44

13

60

8

Kim Cheng

46

13

51

5

Feldon and Norten are married. They claim 0 and 4 withholding allowances, respectively. The following tax rates are applicable: FICA 8%, state income taxes 3%, state unemployment taxes 5.4%, and federal unemployment 0.8%. The first three employees are sales clerks (store wages expense). The fourth employee performs administrative duties (office wages expense).

Instructions

(a) Prepare a payroll register for the weekly payroll. (Use the wage-bracket withholding table in the text for federal income tax withholdings.)

(b) Journalize the payroll on March 15, 2012, and the accrual of employer payroll taxes.

(c) Journalize the payment of the payroll on March 16, 2012.

(d) Journalize the deposit in a Federal Reserve bank on March 31, 2012, of the FICA and federal income taxes payable to the government.

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Cost Accounting: Journalize the payroll on march 15 2012 and the accrual of
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