All employees are paid monthly and this is the last payday of the year. Besides

Question

All employees are paid monthly and this is the last payday of the year.

Besides the Federal and FICA taxes withheld, the employees also have State withholdings @ 3.4% and County withholdings @ 1.3%.

1. Sharon Withhun -- married, 5 allowances. Regular pay $12,000, 401K $500, Medical $300

2. Kyle Crabtree -- single, 2 allowances. Regular pay $10,750, 401K $300, Medical $200

3. Elizabeth Gill -- married, 3 allowances. Regular pay $3,500, 401K $100, Medical $70

Submit the following:

1. Completed payroll register

2. Journal entries for the last payday (assume the employer matches the 401K of the employee and pays twice the Medical employee payment)

3. Form 941 - boxes 2, 3, 5a, 5c, 14

Explanation / Answer

1.Total net pay=total net earnings-total deductions

Pay roll register

2.jounal entaries

                                      earnings Deductions Net pay Name Marital status/allowanses regular pay1 regular pay2 regular pay 3 Medical Inc Sharon Withun married/5 12000 401 500 300 12601 Kyle Crabtree single/2 10750 401 300 200 11251 Elizabeth Gill married /3 3500 401 100 70 3931 total 26250 1203 900 570 27783

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