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. (Use the wage-bracket with holding table in the text for federal income tax withholdings.)
- 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