The project will be due in phases:Week 5: Dec 4th payroll register, earnings records, journal,...

Question

The project will be due in phases:Week 5: Dec 4th payroll register, earnings records, journal, general ledger (60pts)Week 6: Dec 18thpayroll register, earnings records, journal, general ledger and the end of year adjustments through February (75pts)Week 7: Reporting forms (75pts) pp 7-50 through 7-67 and Audit Tests	Tips on the December 4th payroll.1. Make sure you read the entries before the payroll period begins as you will see some employees received promotions, some changed their allowances or marital statuses for this new pay period. The individual employee Earnings Record has been updated to reflect those changes but the payroll register has not.2. Every employee who makes a SIMPLE plan contribution will have his/her FIT calculated onGross pay - SIMPLE contributionas employee retirement contributions are made with pre-tax dollars. (this only applies to the income tax)3. Write the gross pay each employee for the employer side of the payroll taxes. The calculation made for the employer tax is the total gross earnings (underneath any caps) of all employees x the correct percentage (OASDI, HI, FUTA, SUTA). It is NOT made on an individual's gross pay but the total gross pay. Sometimes you will be off a few cents from the employee-side of the tax calculation.4. Read the time sheetscarefully as they will indicate whether an absence is paid or unpaid.5. When calculating a non-exempt salaried person's pay who does NOT work a standard workweek:	Gross pay= Regular salary for the week worked for the standard number of hours + hours worked in other weekx $ regular hourly rate. Both figures are found in the earnings record for each individual. Make sure all OT is in the OT column.	Part 2 of the project includes:Week 6: Dec 18thpayroll register, earnings records, journal, general ledger and the end of year adjustments (75pts)	Week 7: Reporting forms (75pts)are onpp 7-50 through 7-67. You can save time by not entering Company information, EINs, addresses, etc. I am looking for the financial info: deposit amounts, W-2s (please include name of employee), etc. As an example but not inclusive, you will complete among the following forms:

Ashish · Accepted Answer

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Journal
			JOURNAL			Page  41
	DATE		DESCRIPTION	POST. REF.	DEBIT	CREDIT
	20--
	Oct.	9	Payroll Cash	12	12,052.01
			Cash	11		12,052.01
		9	Administrative Salaries	51	2,307.69
			Office Salaries	52	4,651.08
			Sales Salaries	53	3,600.00
			Plant Wages	54	4,898.00
			FICA Taxes Payable - OASDI	20.1		958.33
			FICA Taxes Payable - HI	20.2		224.14
			Employees FIT Payable	24		1,118.00
			Employees SIT Payable	25		474.55
			Employees SUTA Payable	25.1		10.85
			Employees CIT Payable	26		602.89
			Union Dues Payable	28		16.00
			Payroll Cash	12		12,052.01
		9	Payroll Taxes	56	1,381.11
			FICA Taxes Payable - OASDI	20.1		958.32
			FICA Taxes Payable - HI	20.2		224.12
			FUTA Taxes Payable	21		22.91
			SUTA Taxes Payable - Employer	22		175.76
		20	Employees SIT Payable	25	474.55
			Cash	11		474.55
		23	Payroll Cash	12	12,115.19
			Cash	11		12,115.19
			JOURNAL			Page  42
	DATE		DESCRIPTION	POST. REF.	DEBIT	CREDIT
	20--
	Oct.	23	Administrative Salaries	51	2,307.69
			Office Salaries	52	4,651.08
			Sales Salaries	53	3,600.00
			Plant Wages	54	5,219.60
			FICA Taxes Payable - OASDI	20.1		978.26
			FICA Taxes Payable - HI	20.2		228.80
			Employees FIT Payable	24		1,148.00
			Employees SIT Payable	25		484.42
			Employees SUTA Payable	25.1		11.07
			Employees CIT Payable	26		615.43
			Group Insurance Premiums Collected	27		181.20
			Union Dues Payable	28		16.00
			Payroll Cash	12		12,115.19
		23	Payroll Taxes	56	1,386.96
			FICA Taxes Payable - OASDI	20.1		978.26
			FICA Taxes Payable - HI	20.2		228.79
			FUTA Taxes Payable	21		4.15
			SUTA Taxes Payable - Employer	22		175.76
	Nov.	4	Employees SIT Payable	25	484.42
			Cash	11		484.42
		6	Union Dues Payable	28	32.00
			Cash	11		32.00
			JOURNAL			Page  43
	DATE		DESCRIPTION	POST. REF.	DEBIT	CREDIT
	20--
	Nov.	6	Payroll Cash	12	11,893.42
			Cash	11		11,893.42
		6	Administrative Salaries	51	2,307.69
			Office Salaries	52	4,605.85
			Sales Salaries	53	3,600.00
			Plant Wages	54	4,898.00
			FICA Taxes Payable - OASDI	20.1		955.53
			FICA Taxes Payable - HI	20.2		223.49
			Employees FIT Payable	24		1,238.00
			Employees SIT Payable	25		473.16
			Employees SUTA Payable	25.1		10.82
			Employees CIT Payable	26		601.12
			Union Dues Payable	28		16.00
			Payroll Cash	12		11,893.42
		6	Payroll Taxes	56	1,343.71
			FICA Taxes Payable - OASDI	20.1		955.52
			FICA Taxes Payable - HI	20.2		223.47
			SUTA Taxes Payable - Employer	22		164.72
		13	Payroll Cash	12	1,428.45
			Cash	11		1,428.45
			JOURNAL			Page  44
	DATE		DESCRIPTION	POST. REF.	DEBIT	CREDIT
	20--
	Nov.	13	Office Salaries	52	2,079.32
			FICA Taxes Payable - OASDI	20.1		128.92
			FICA Taxes Payable - HI	20.2		30.15
			Employees FIT Payable	24		331.00
			Employees SIT Payable	25		63.84
			Employees SUTA Payable	25.1		1.46
			Employees CIT Payable	26		81.10
			Group Insurance Premiums Collected	27		14.40
			Payroll Cash	12		1,428.45
		13	Payroll Taxes	56	159.07
			FICA Taxes Payable - OASDI	20.1		128.92
			FICA Taxes Payable - HI	20.2		30.15
		16	FICA Taxes Payabe-OASDI	20.1	3,873.17
			FICA Taxes Payable-HI	20.2	905.85
			Employee FIT Payable	24	2,266.00
			Cash	11		7,045.02
		16	Employee CIT Payable	26	1,218.32
			Cash	11		1,218.32
		18	Employees SIT Payable	25	537.00
			Cash	11		537.00
		20	Payroll Cash	12	9,216.00
			Cash	11		9,216.00
		20	Administrative Salaries	51	2,307.69
			Office Salaries	52	3,398.00
			Sales Salaries	53	3,600.00
			Plant Wages	54	4,616.40
			FICA Taxes Payable - OASDI	20.1		863.18
			FICA Taxes Payable - HI	20.2		201.89
			Employees FIT Payable	24		828.00
			Employees SIT Payable	25		427.43
			Employees SUTA Payable	25.1		9.77
			Employees CIT Payable	26		543.02
			Group Insurance Premiums Collected	27		166.80
			Union Dues Payable	28		16.00
			SIMPLE Contributions Payable	29		1,650.00
			Payroll Cash	12		9,216.00
			JOURNAL			Page  45
	DATE		DESCRIPTION	POST. REF.	DEBIT	CREDIT
	20--
	Nov.	20	Payroll Taxes Expense	56	1,113.16
			FICA Taxes Payable - OASDI	20.1		863.18
			FICA Taxes Payable - HI	20.2		201.87
			SUTA Taxes Payable - Employer	22		48.11
	Dec.	3	Employees SIT Payable	25	427.43
			Cash	11		427.43
		4	Payroll Cash	12	10,730.23
			Cash	11		10,730.23
		4	Administrative Salaries	51	2,307.69
			Office Salaries	52	4,628.00
			Sales Salaries	53	3,600.00
			Plant Wages	54	5,188.60
			FICA Taxes Payable - OASDI	20.1		974.92
			FICA Taxes Payable - HI	20.2		228.02
			Employees FIT Payable	24		1,018.00
			Employees SIT Payable	25		482.76
			Employees SUTA Payable	25.1		11.03
			Employees CIT Payable	26		613.33
			Group Insurance Premiums Collected	27		0.00
			Union Dues Payable	28		16.00
			SIMPLE Contributions Payable	29		1,650.00
			Payroll Cash	12		10,730.2
			JOURNAL			Page  46
	DATE		DESCRIPTION	POST. REF.	DEBIT	CREDIT
	20--
	Dec.	4	Payroll Taxes Expense	56	1,255.30
			FICA Taxes Payable - OASDI	20.1		974.91
			FICA Taxes Payable - HI	20.2		228.00
			FUTA Taxes Payable	21		6.48
			SUTA Taxes Payable - Employer	22		45.91
		9	Union Dues Payable	28	32.00
			Cash	11		32.00
		14	Payroll Cash	12	2,194.48
			Cash	11		2,194.48
		14	Office Salaries Expense	52	2,394.00
			FICA Taxes Payable- OASDI	20.1		148.43
			FICA Taxes Payable- HI	20.2		34.71
			Employees SUTA Payable	25.1		1.68
			Group Insurance Premiums Collected	27		14.70
			Payroll Cash	12		2,194.48
		14	Payroll Taxes Expense	56	183.14
			FICA Taxes Payable- OASDI	20.1		148.43
			FICA Taxes Payable- HI	20.2		34.71
		15	Employees FIT Payable	24	2,397.00
			FICA Taxes Payable- OASDI	20.1	3,895.25
			FICA Taxes Payable- HI	20.2	911.02
			Cash	11		7,203.27
		15	Employees CIT Payable	26	1,225.24
			Cash	11		1,225.24
		18	Employees SIT Payable	25	482.76
			Cash	11		482.76
		18	Group Insurance Premiums Collected	27	14.70
			Cash	11		14.70
		18	Payroll Cash	12	45,348.73
			Cash	11		45,348.73
			JOURNAL			Page  47
	DATE		DESCRIPTION	POST. REF.	DEBIT	CREDIT
	20--
		18	Administrative Salaries	51	77,307.69
			Office Salaries	52	3,474.00
			Sales Salaries	53	4,860.00
			Plant Wages	54	5,509.40
			FICA Taxes Payable - OASDI	20.1		5,382.37
			FICA Taxes Payable - HI	20.2		1,321.70
			Employees FIT Payable	24		27,530.73
			Employees SIT Payable	25		2,798.36
			Employees SUTA Payable	25.1		63.83
			Employees CIT Payable	26		3,555.27
			Group Insurance Premiums Collected	27		182.10
			Union Dues Payable	28		18.00
			SIMPLE Contributions Payable	29		4,950.00
			Payroll Cash	12		45,348.73
		18	Payroll Taxes	56	6,809.31
			FICA Taxes Payable - OASDI	20.1		5,382.37
			FICA Taxes Payable - HI	20.2		1,321.69
			FUTA Taxes Payable	21		14.76
			SUTA Taxes Payable - Employer	22		90.49
	Jan.	6	Employees SIT Payable	25	2,798.36			31-Jan	31-Dec	30-Nov	31-Oct
			Cash	11		2,798.36		362,924.31	362,924.31	362,924.31	362,924.31
								0.00	5,431.10	238,395.83	304,279.35
		8	Union Dues Payable	28	34.00			362,924.31	357,493.21	124,528.48	58,644.96
			Cash	11		34.00
		15	Employees FIT Payable	24	28,548.73
			FICA Taxes Payable- OASDI	20.1	13,011.43
			FICA Taxes Payable- HI	20.2	3,396.27
			Cash	11		44,956.43
			JOURNAL			Page  48
	DATE		DESCRIPTION	POST. REF.	DEBIT	CREDIT
	20--
	Jan.	15	Employees CIT Payable	26	4,168.60
			Cash	11		4,168.60
	Feb.	1	FUTA Taxes Payable	21	441.24
			Cash	11		441.24
		1	SUTA Taxes Payable- Employer	22	700.75
			Employees SUTA Payable	25.1	120.51
			Cash	11		821.26
			JOURNAL			Page  49
	DATE		DESCRIPTION	POST. REF.	DEBIT	CREDIT
	20--
			JOURNAL			Page  50
	DATE		DESCRIPTION	POST. REF.	DEBIT	CREDIT
	20--
			Total debits and credits (calculated automatically):		362,924.34	362,924.31
			Your debits and credits should be equal after each journal entry is complete
			Cumulative Journal Checkpoint Through Month Ending
	57,258.00		October 31, 20--                        December 31, 20--
			November 30, 20--                        January 31, 20--
General Ledger
			GENERAL LEDGER
												Checkpoints
	ACCOUNT:		CASH				ACCOUNT	NO.  11				Debit	Credit
												Balance	Balance
				POST.			BALANCE				Oct. 31, 20--	175,204.58
	DATE		ITEM	REF.	DEBIT	CREDIT	DEBIT	CREDIT			Nov. 30, 20--	143,349.95
	20--										Dec. 31, 20--	75,691.11
	Oct.	1	Balance	a			199,846.33
		9		J41		12,052.01	187,794.32
		20		J41		474.55	187,319.77
		23		J41		12,115.19	175,204.58
	Nov.	4		J42		484.42	174,720.16
		6		J42		32.00	174,688.16
		6		J43		11,893.42	162,794.74
		13		J43		1,428.45	161,366.29
		16		J44		7,045.02	154,321.27
		16		J44		1,218.32	153,102.95
		16		J44		537.00	152,565.95
		20		J44		9,216.00	143,349.95
	Dec.	3		J45		427.43	142,922.52
		4		J45		10,730.23	132,192.29
		9		J45		32.00	132,160.29
		14		J46		2,194.48	129,965.81
		15		J46		7,203.27	122,762.54
		15		J46		1,225.24	121,537.30
		18		J46		482.76	121,054.54
		18		J46		14.70	121,039.84
		18		J47		45,348.73	75,691.11
							0.00
							0.00
							0.00
							0.00
							0.00
							0.00
							0.00
							0.00
							0.00
							0.00
							0.00
	ACCOUNT:		PAYROLL CASH				ACCOUNT	NO.  12				Checkpoints
												Debit	Credit
				POST.			BALANCE					Balance	Balance
	DATE		ITEM	REF.	DEBIT	CREDIT	DEBIT	CREDIT			Oct. 31, 20--	0.00
	20--										Nov. 30, 20--	0.00
	Oct.	9		J41	12,052.01		12,052.01				Dec. 31, 20--	0.00
		9		J41		12,052.01	0.00
		23		J41	12,115.19		12,115.19
		23		J42		12,115.19	0.00
	Nov.	6		J43	11,893.42		11,893.42
		6		J43		11,893.42	0.00
		13		J43	1,428.45		1,428.45
		13		J44		1,428.45	0.00
		20		J44	9,216.00		9,216.00
		20		J44		9,216.00	0.00
	Dec.	4		J45	10,730.23		10,730.23
		4		J45		10,730.23	0.00
		14		J46	2,194.48		2,194.48
		14		J46		2,194.48	0.00
		18		J46	45,348.73		45,348.73
		18		J47		45,348.73	0.00
							0.00
							0.00
							0.00
							0.00
							0.00
							0.00
							0.00
							0.00
							0.00
							0.00
							0.00
							0.00
							0.00
							0.00
							0.00
	ACCOUNT:		FICA TAXES PAYABLE - OASDI				ACCOUNT	NO.  20.1				Checkpoints
												Debit	Credit
				POST.			BALANCE					Balance	Balance
	DATE		ITEM	REF.	DEBIT	CREDIT	DEBIT	CREDIT			Oct. 31, 20--		3,873.17
	20--										Nov. 30, 20--		3,895.24
	Oct.	9		J41		958.33		958.33			Dec. 31, 20--		13,011.45
		9		J41		958.32		1,916.65
		23		J42		978.26		2,894.91
		23		J42		978.26		3,873.17
	Nov.	6		J43		955.53		4,828.70
		6		J43		955.52		5,784.22
		13		J44		128.92		5,913.14
		13		J44		128.92		6,042.06
		16		J44	3,873.17			2,168.89
		20		J44		863.18		3,032.07
		20		J45		863.18		3,895.25
	Dec	4		J45		974.92		4,870.17
		4		J46		974.91		5,845.08
		14		J46		148.43		5,993.51
		14		J46		148.43		6,141.94
		15		J46	3,895.25			2,246.69
		18		J46		5,382.37		7,629.06
		18		J47		5,382.37		13,011.43
	Jan.	15		J47	13,011.43			0.00
								0.00
								0.00
								0.00
								0.00
								0.00
								0.00
								0.00
								0.00
								0.00
								0.00
								0.00
								0.00
	ACCOUNT:		FICA TAXES PAYABLE - HI				ACCOUNT	NO.  20.2				Checkpoints
												Debit	Credit
				POST.			BALANCE					Balance	Balance
	DATE		ITEM	REF.	DEBIT	CREDIT	DEBIT	CREDIT			Oct. 31, 20--		905.85
	20--										Nov. 30, 20--		911.02
	Oct.	9		J41		224.14		224.14			Dec. 31, 20--		3,168.83
		9		J41		224.12		448.26
		23		J42		228.80		677.06
		23		J42		228.79		905.85
	Nov.	6		J43		223.49		1,129.34
		6		J43		223.47		1,352.81
		13		J44		30.15		1,382.96
		13		J44		30.15		1,413.11
		16		J44	905.85			507.26
		20		J44		201.89		709.15
		20		J45		201.87		911.02
	Dec.	4		J45		228.02		1,139.04
		4		J46		228.00		1,367.04
		14		J46		34.71		1,401.75
		14		J46		34.71		1,436.46
		15		J46	911.02			525.44
		18		J47		1,321.70		1,847.14
		18		J47		1,321.69		3,168.83
	ACCOUNT:		FUTA TAXES PAYABLE				ACCOUNT	NO.  21				Checkpoints
												Debit	Credit
				POST.			BALANCE					Balance	Balance
	DATE		ITEM	REF.	DEBIT	CREDIT	DEBIT	CREDIT			Oct. 31, 20--		420.00
	20--										Nov. 30, 20--		420.00
	Oct.	1	Balance	a				392.94			Dec. 31, 20--		441.24
		9		J41		22.91		415.85
		23		J42		4.15		420.00
	Dec	4		J46		6.48		426.48
		18		J47		14.76		441.24
								0.00
								0.00
								0.00
								0.00
								0.00
								0.00
								0.00
								0.00
								0.00
	ACCOUNT:		SUTA TAXES PAYABLE - EMPLOYER				ACCOUNT	NO.  22				Checkpoints
												Debit	Credit
				POST.			BALANCE					Balance	Balance
	DATE		ITEM	REF.	DEBIT	CREDIT	DEBIT	CREDIT			Oct. 31, 20--		351.52
	20--										Nov. 30, 20--		564.35
	Oct.	9		J41		175.76		175.76			Dec. 31, 20--		700.75
		23		J42		175.76		351.52
	Nov.	6		J43		164.72		516.24
		20		J45		48.11		564.35
	Dec.	4		J45		45.91		610.26
		18		J47		90.49		700.75
								0.00
								0.00
								0.00
								0.00
								0.00
								0.00
								0.00
								0.00
	ACCOUNT:		EMPLOYEES FIT PAYABLE				ACCOUNT	NO.  24				Checkpoints
												Debit	Credit
				POST.			BALANCE					Balance	Balance
	DATE		ITEM	REF.	DEBIT	CREDIT	DEBIT	CREDIT			Oct. 31, 20--		2,266.00
	20--										Nov. 30, 20--		2,397.00
	Oct.	9		J41		1,118.00		1,118.00			Dec. 31, 20--		28,548.73
		23		J42		1,148.00		2,266.00
	Nov.	6		J43		1,238.00		3,504.00
		13		J44		331.00		3,835.00
		16		J44	2,266.00			1,569.00
		20		J44		828.00		2,397.00
	Dec.	4		J45		1,018.00		3,415.00
		15		J46	2,397.00			1,018.00
		18		J47		27,530.73		28,548.73
								0.00
								0.00
								0.00
								0.00
								0.00
								0.00
								0.00
								0.00
								0.00
	ACCOUNT:		EMPLOYEES SIT PAYABLE				ACCOUNT	NO.  25				Checkpoints
												Debit	Credit
				POST.			BALANCE					Balance	Balance
	DATE		ITEM	REF.	DEBIT	CREDIT	DEBIT	CREDIT			Oct. 31, 20--		484.42
	20--										Nov. 30, 20--		427.43
	Oct.	9		J41		474.55		474.55			Dec. 31, 20--		2,798.36
		20		J41	474.55			0.00
		23		J42		484.42		484.42
	Nov.	4		J42	484.42			0.00
		6		J43		473.16		473.16
		13		J44		63.84		537.00
		18		J44	537.00			0.00
		20		J44		427.43		427.43
	Dec.	3		J45	427.43			0.00
		4		J45		482.76		482.76
		18		J46	482.76			0.00
		18		J47		2,798.36		2,798.36
	Jan.	6		J47	2,798.36			0.00
								0.00
								0.00
								0.00
								0.00
								0.00
	ACCOUNT:		EMPLOYEES SUTA PAYABLE				ACCOUNT	NO.  25.1				Checkpoints
												Debit	Credit
				POST.			BALANCE					Balance	Balance
	DATE		ITEM	REF.	DEBIT	CREDIT	DEBIT	CREDIT			Oct. 31, 20--		21.92
	20--										Nov. 30, 20--		43.97
	Oct.	9		J41		10.85		10.85			Dec. 31, 20--		120.51
		23		J42		11.07		21.92
	Nov.	6		J43		10.82		32.74
		13		J44		1.46		34.20
		20		J44		9.77		43.97
	Dec.	4		J45		11.03		55.00
		14		J46		1.68		56.68
		18		J47		63.83		120.51
								0.00
								0.00
								0.00
								0.00
								0.00
								0.00
								0.00
								0.00
								0.00
								0.00
	ACCOUNT:		EMPLOYEES CIT PAYABLE				ACCOUNT	NO.

The project will be due in phases: Week 5: Dec 4th payroll register, earnings records, journal, general ledger (60pts) Week 6: Dec 18thpayroll register, earnings records, journal, general ledger and...

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