Dimotel 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, 2014, are presented below.
- Employee
- Hours Worked
- Hourly Rate
- Federal Income Tax Withholdings
- United Fund
- Freddy Ranter 40 $15 $? $5.00
- Trina Golash
- 41 16 ? 5.00
- Jack Never
- 44 13 60.00 8.00
- Sue Perez
- 46 13 61.00 5.00
Ranter and Golash are married. They claim 0 and 4 withholding allowances, respectively. The following tax rates are applicable: FICA 7.65%, state income taxes 3%, state unemployment taxes 5.4%, and federal unemployment 0.8%.
Prepare a payroll register for the weekly payroll.Journalize the payroll on March 15, 2014, and the accrual of employer payroll taxes.
Journalize the payment of the payroll on March 16, 2014.Journalize the deposit in a Federal Reserve bank on March 31, 2014, of the FICA and federal income taxes payable to the government