Essay about Payroll Accounting Project

Salaries Accounting Task

CHAPTER 7

Be aware to Trainers

Depending upon the of time plus your goals in teaching the payroll accounting course, you could use the Payroll Project in one of a number of ways:

1 . Assign the particular preparation of payroll signs up and submitting to employees' earnings data. 2 . Designate (1) additionally recording the entries inside the general log and posting to the general ledger. several. Assign (1) and (2) plus completing the quarterly tax studies. 4. Assign the complete project.

5. Appendix A uses the same practice set with all the computer-assisted way. If college students are concluding the task using Appendix A, it would be helpful to you can keep them complete one of the payrolls personally. This would supply a better comprehension of the businesses that are being performed by the computer. Chapter several consists of a simulation, or practice set, intended for payroll accounting. Students can apply the knowledge acquired from this course to practical payroll situations. This simulation can be described as culmination from the information shown in the textbook. Learning Aims

After completing the simulation, students should be able to:

1 ) Prepare payroll registers.

installment payments on your Maintain employees' earnings records.

3. Journalize and content payroll and payroll taxes entries.

4. Complete federal, state, and city duty deposit varieties and journalize the deals. 5. Prepare various quarter-end and year-end payroll duty forms. six. Make the accrual entries pertaining to the salaries at the end of the year. Payroll Project Answer (p. 7–24)

JOURNAL

20--

Oct. being unfaithful Payroll Cash 12 11, 058. 85

Cash 10 11, 058. 80

Oct. 9 Management Salaries 51 2, 307. 69

Business office Salaries 52 3, 353. 08

Revenue Salaries 53 3, six-hundred. 00

Herb Wages 54 4, 902. 00

FICA Taxes Payable—OASDI 20. you 878. 09

FICA Taxes Payable—HI twenty. 2 205. 37

Employees FIT Payable 24 you, 012. 00

Employees SIT Payable twenty-five 434. 82

Employees SUTA Payable 25. 1 14. 33... [continues]