Attachment # 00002134 - 122_U8_Payroll_Project_Ch07_2014_(4).xlsx
122_U8_Payroll_Project_Ch07_2014_(4).xlsx (139.61 KB)
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DESCRIPTIONDATEREF.POST.DEBITCREDITPayroll Cash CashJOURNALAdministrative SalariesOffice SalariesSales SalariesPlant Wages FICA Taxes Payable - OASDI FICA Taxes Payable - HI Employees FIT Payable Employees SIT Payable Employees CIT Payable Union Dues Payable Payroll CashPayroll Taxes FUTA Taxes PayableACCOUNTCASHITEM GENERAL LEDGER BALANCEACCOUNT:BalanceJ41PAYROLL CASHFICA TAXES PAYABLE - OASDIFICA TAXES PAYABLE - HIFUTA TAXES PAYABLEEMPLOYEES FIT PAYABLEEMPLOYEES SIT PAYABLEEMPLOYEES CIT PAYABLEGROUP INSURANCE PREMIUMS COLLECTEDUNION DUES PAYABLEADMINISTRATIVE SALARIESOFFICE SALARIESSALES SALARIESPLANT WAGESPAYROLL TAXESaDEPARTMENTPlantHRS.RATEAMOUNTREGULAR EARNINGSOVERTIME EARNINGSCUMULATIVEEARNINGSOASDIHIFICAFITSITCITOTHERDEDUCTIONSCK.NO.PAYDAY20___GROUP INSURANCEHOURLY RATEOVERTIME RATEWEEKLY RATESALARYW/HALLOW.MARITALSTATUSOTHER DEDUCTIONS INFORMATIONOCCUPATIONWORKS IN (STATE)MIDDLEFIRSTNAME - LASTSEXMFS.S. ACCOUNT NO.NET PAIDMixer OperatorPAxBONNOAnthonyVictor$55,000 --$.30/M4STWSUTAFUTAPAYROLL REGISTERGLO-BRITE PAINT COMPANYNAMESalesSales ManagerFERGUSONJamesClaude$88,000 -- $.30/M5OfficeExecutive SecretaryFORDCatherineLouise2Sales RepresentativeMANNDeweyWilson$53,000 -- $.30/MPresidentO'NEILLJosephTyler3$90,000 -- $.30/MTime ClerkRUSSELLVirginiaAloise1S ElectricianRYANNormanAllen$56,000 -- $.30/MSupervisorSOKOWSKIThomas$80,000 -- $.30/MAccounting TraineeProgrammerWILLIAMSRuth$48,000 -- $.30/M0Bonno, A.M TOTALSFerguson, J.Ford, C.Mann, D.O'Neill, J.Russell, V.Ryan, N.Sokowski, T.Williams, R.(Student)CreditDebitTotal earningsNet paidCheckpointOct. 31, 20--Nov. 30, 20--Dec. 31, 20--SIMPLE CONTRIBUTIONS PAYABLESIMPLE$/yr./mo.October 31, 20-- December 31, 20-- November 30, 20-- January 31, 20--Your debits and credits should be equal after each journal entry is completeTotal debits and credits (calculated automatically): Employees SUTA PayableEMPLOYEES SUTA PAYABLEPayday, November 6, 20-- For Period Ending October 31, 20--Payday, November 13, 20-- For Period Ending November 14, 20--Payday, November 20, 20-- For Period Ending November 14, 20--Payday, December 4, 20-- For Period Ending November 28, 20--Payday, December 14, 20-- For Period Ending December 12, 20--Payday, December 18, 20-- For Period Ending December 12, 20--QTR. TOT.YR. TOT.YEAR-TO-DATE YEAR-TO-DATEAdmini- strative SUTA Taxes Payable - EmployerSUTA TAXES PAYABLE - EMPLOYERRate Per HourHrs.Marital StatusNo. W/H Allow.AmountTotal EarningsGroup Ins.Union DuesCk. No.DeductionsTime RecordRegular EarningsOvertime EarningsNet PaidAdmin.Taxable EarningsLabor Cost DistributionPayday, October 23, 20-- For Period Ending October 17, 20--Payday, October 9, 20-- For Period Ending October 3, 20--Woods, B.Young, P.$21,000 -- $.30/MOct.20--Page 41 Page 42Page 43Page 44Page 45Page 46Page 47Page 48Page 49Page 50NO. 11NO. 12NO. 20.1NO. 20.2NO. 21NO. 22NO. 24NO. 25NO. 25.1NO. 26NO. 27NO. 28NO. 29NO. 51NO. 52NO. 53NO. 54NO. 56CheckpointsPOST. REF.DExcel Instructions using Excel 2010:1. Enter the appropriate numbers/formulas in the shaded (gray) cells. An asterisk (*) will appear to the right of an incorrect answer.2. A formula begins with an equals sign (=) and can consist of any of the following elements: Operators such as + (for addition), - (for subtraction), * (for multiplication), and / (for division). Cell references, including cell addresses such as B52, as well as named cells and ranges Values and text Worksheet functions (such as SUM)3. You can enter a formula into a cell manually (typing it in) or by pointing to the cells. To enter a formula manually, follow these steps: Move the cell pointer to the cell that you want to hold the formula. Type an equals sign (=) to signal the fact that the cell contains a formula. Type the formula, then press Enter.4. Rounding: These templates have been formatted to round numbers to either the nearest whole number or the nearest cent. For example, 17.65 x 1.5=26.475. The template will display and hold 26.48, not 26.475. There is no need to use Excel's rounding function.5. Remember to save your work. When saving your workbook, Excel overwrites the previous copy of your file. You can save your work at any time. You can save the file to the current name, or you may want to keep multiple versions of your work by saving each successive version under a different name.To save to the current name, you can select File, Save from the menu bar or click on the disk icon in the standard toolbar. To save under a different name, follow these steps: Select File, Save As to display the Save As Type drop-box, chose Excel Workbook (*.xlsx) Select the folder in which to store the workbook. Enter the new filename in the File name box. Click Save.CAUTION: Read Appendix B for specific instructions relating to these templates.StudentCumulative Journal Checkpoint Through Month Ending000-00-3481000-00-8645000-00-4567000-00-9352000-00-1534000-00-6337000-00-1223000-00-8832000-00-6741It is recommended that you save the file to a new name that identifies the file as yours, such as Chapter_7_long_version_Your_Name.xlsx$8 each pay$35,000--$.30/M$27,000 -- $.30/MUNION DUES
Kaplan AC122 Payroll final project

Kaplan AC122 Payroll final project

Question # 00029805 Posted By: neil2103 Updated on: 10/29/2014 07:50 PM Due on: 10/31/2014
Subject Accounting Topic Accounting Tutorials:
Question
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Welcome to your Homework Assistance video for Units 8 and 9. In Units 8 & 9 you are working on completing the final project for the class. In this video, you will be reviewing the steps required for this project.

Chapter 7 of the text is a comprehensive Payroll Project that should be completed by you to demonstrate understanding of the material covered in Chapters 1-6. For each part of the payroll project you should complete the Journal, General Ledger, Payroll ter, and the Employee Earnings Record as applicable. When completing the Payrolls, complete the payroll register first, then transfer each employee’s amounts to the Employee Earnings Record, then complete the Journal entries applicable to the payroll, and then post to the general ledger.

Each Part of the project will be submitted separately for grading, you will submit the entire template, and the instructor will grade each part separately and award points based on completion and correctness. Be sure to look at the feedback provided by the instructor for corrections that may affect your ending balances.

The Final Project is worth 210 points; the final project will be broken down into six (6) parts as follows:

The October 9 payroll has been completed for you in the template. You will see the Payroll ter, and Journal in the template, this is color coded light green.

Part 1 (40 points) October 20th – November 4th on pages 7-11 and 7-12 in the template this is color coded yellow. Use Journal page 42.

Part 2 (40 points) November 6th - 18th on pages 7-12, 7-13 and 7-14 in the template this is color coded blue. Use Journal page 43.

Part 3 (25 points) November 20th and 30th on pages 7-14, 7-15 and 7-16 in the template this is color coded dark pink. Use Journal page 44.

Part 4 (35 points) December 3rd- 4th on pages 7-16 in the template this is color coded orange. Use Journal page 45. Part 5 (40 points) December 9th – 15th on page 7-17, in the template this is color coded tan. Use Journal page 46.

Part 6 (30 points) December 18th – February 1st on pages 7-17 through 7-20, in the template this is color coded Blue. Use Journal page 47.

Start by Downloading the template from Doc Sharing-you should be using the template called: Final Project Template 2012

q This template is color coded by Project Part, the Payroll register and the journal match by color

q You will complete the work on pages 7-1 through 7-19 (January 15th transaction) and the February 1st journal entries.

Page 1 of 3


Unit 8 & 9 [122: Payroll Accounting]


q VERY IMPORTANT!

q Read everything carefully-begin on page 7-2.

q Pages 7-2 through 7-6 give the company information and the employee details

q Read and trace the transactions for the October 9th Payroll that has been done for you (pages 7-7 through 7-10)

q If you have questions-ask sooner rather than later, and attach your template s that I can see where you are.

q Take your time and start early.

q For each part of the payroll project you should complete the Journal, General Ledger, Payroll ter, and the Employee Earnings Record as applicable. When completing the Payrolls, complete the payroll register first, then transfer each employee’s amounts to the Employee Earnings Record, then complete the Journal entries applicable to the payroll, and then post to the general ledger.

q You have payrolls for the following dates:

q October 9 (this one has been done for you)

q October 23

q November 6

q November 13

q November 20

q December 4

q December 14

q December 18

q In between the Payrolls are Journal entries that should be completed.

The order to complete the work

1. Complete the Payroll first

2. Transfer the individual employee payroll data to the employee earnings record

  1. Complete the General Journal

? Be sure that when it says a deposit was made that you record it in the journal

  1. Post to the General Ledger

? Each Part of the project will be submitted separately for grading, you will submit the entire template, and the instructor will grade each part separately and award points based on completion and correctness. Be sure to look at the feedback provided by the instructor for corrections that may affect your ending balances.

Unit 8 consists of Parts 1-3, Unit 9 consists of Parts 4-6. There is a separate Dropbox for each part.

Some check figures to assist you:

October 9 (this one has been done for you)

Page 2 of 3


Unit 8 & 9 [122: Payroll Accounting]


? Total Earnings: $14,162.77

? Net Pay: $ 11,058.80

October 23

? Total Earnings: $14,484.69

? Net Pay: $ 11,131.63 November 6

? Total Earnings: $ 14,130.48

? Net Pay: $ 10,897.23 November 13

? Total Earnings: $ 2,079.32

? Net Pay: $ 1,412.13 November 20

? Total Earnings: $ 12,640.23

? Net Pay: $ 8,240.91 December 4

? Total Earnings: $ 14,431.09

? Net Pay: $ 9,722.77 December 14

? Total Earnings: $ 1,425.16

? Net Pay: $ 1,306.30 December 18

? Total Earnings: $ 74,922.49

? Net Pay: $ 39,367.66

The template has built in formulas to calculate some of the amounts, you will have some rounding, so if you are off by a few pennies, do not spend a lot of time looking for it, your instructor has been notified to give credit for rounding error in net pay of .10 or less.

Feel free to e-mail your instructor or post questions (not answers) in the virtual office about this recording.

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