Purchase Solution

Calculations for the Weekly Payroll of the Piniella Company

Not what you're looking for?

Ask Custom Question

Piniella Company company has the following data for the weekly payroll ending January 31.

Hours Hourly Federal Income Tax Health
M T W T F S Rate Withholding Insurance
Employees
M. Hindi 8 8 9 8 10 3 $11 $34 $10
E. Benson 8 8 8 8 8 2 $13 $37 $15
K. Estes 9 10 8 8 9 0 $14 $58 $15

Employees are paid 1½ times the regular hourly rate for all hours worked in excess of 40 hours per week. FICA taxes are 8% on the first $106,800 of gross earnings. Piniella Company is subject to 5.4% state unemployment taxes on the first $9,800 and 0.8% federal unemployment taxes on the first $7,000 of gross earnings.

Instructions:
a. Prepare the payroll register for the weekly payroll.
b. Prepare the journal entries to record the payroll and Piniella's payroll tax expense.

Purchase this Solution

Solution Summary

Piniella Company company has the following data for the weekly payroll ending January 31.

Hours Hourly Federal Income Tax Health
M T W T F S Rate Withholding Insurance
Employees
M. Hindi 8 8 9 8 10 3 $11 $34 $10
E. Benson 8 8 8 8 8 2 $13 $37 $15
K. Estes 9 10 8 8 9 0 $14 $58 $15

Employees are paid 1½ times the regular hourly rate for all hours worked in excess of 40 hours per week. FICA taxes are 8% on the first $106,800 of gross earnings. Piniella Company is subject to 5.4% state unemployment taxes on the first $9,800 and 0.8% federal unemployment taxes on the first $7,000 of gross earnings.

Instructions:
a. Prepare the payroll register for the weekly payroll.
b. Prepare the journal entries to record the payroll and Piniella's payroll tax expense.

Purchase this Solution


Free BrainMass Quizzes
MS Word 2010-Tricky Features

These questions are based on features of the previous word versions that were easy to figure out, but now seem more hidden to me.

Organizational Behavior (OB)

The organizational behavior (OB) quiz will help you better understand organizational behavior through the lens of managers including workforce diversity.

Balance Sheet

The Fundamental Classified Balance Sheet. What to know to make it easy.

Social Media: Pinterest

This quiz introduces basic concepts of Pinterest social media

Six Sigma for Process Improvement

A high level understanding of Six Sigma and what it is all about. This just gives you a glimpse of Six Sigma which entails more in-depth knowledge of processes and techniques.