Olney Company Inc Payroll Register Answers

Name: Amber Smith CAUTION: See “round” rules in Excel Instructions before calculating OT for slaried employees - Olney Company Inc Payroll Register Answers introduction. 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. 2 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. 1 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 07. 05 * OLNEY COMPANY, INC. PAYROLL REGISTER DEDUCTIONS GROUP FIT SIT SUTA CIT SIMPLE INSURANCE HEALTH INSURANCE NET PAY CHECK NO. AMOUNT OASDI TAXABLE E 23. 00 54. 00 11. 00 44. 00 46. 00 29. 00 88. 00 86. 00 96. 17 477. 17 10. 44 15. 62 9. 22 16. 59 16. 95 25. 71 23. 95 24. 80 37. 86 46. 05 227. 17 0. 27 0. 41 0. 24 0. 43 0. 44 0. 67 0. 62 0. 65 0. 99 1. 20 5. 92 4. 59 6. 87 4. 05 7. 29 7. 45 11. 31 10. 53 10. 90 16. 65 20. 25 99. 90 20. 00 50. 00 40. 00 60. 00 20. 00 40. 00 50. 00 50. 00 30. 00 80. 00 440. 00 0. 85 0. 85 0. 85 0. 85 0. 85 0. 85 0. 85 0. 85 6. 80 1. 65 1. 65 1. 65 1. 65 1. 65 1. 65 1. 65 1. 65 1. 65 1. 65 16. 0 313 314 315 316 317 318 319 320 321 322 259. 99 350. 66 228. 17 412. 00 429. 47 663. 99 619. 33 586. 06 989. 49 1,169. 08 5,708. 25 340. 00 508. 80 300. 30 540. 35 552. 00 837. 50 780. 00 807. 69 1,233. 16 1,500. 00 7,399. 80 Taxable Earnings 7,399. 80 7,399. 80 Rate 0. 60% 3. 70% Net FUTA Tax 44. 40 SUTA Tax 274. 01 TAXABLE EARNINGS HI FUTA SUTA 340. 00 508. 80 300. 30 540. 35 552. 00 837. 50 780. 00 807. 69 1,233. 16 1,500. 00 7,399. 80 340. 00 508. 80 300. 30 540. 35 552. 00 837. 50 780. 00 807. 69 1,233. 16 1,500. 00 7,399. 80 340. 00 508. 80 300. 30 540. 35 552. 00 837. 50 780. 00 807. 69 1,233. 16 1,500. 00 7,399. 80

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