Olney Company Inc Payroll Register Answers
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
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