Posted: November 2nd, 2015
The payroll accounting project is located in Chapter 7 of your textbook. Critical background data for the project is located on pages 7-1 through 7-6. The work begins on page 7-6 with the October 9 information. Look over this information in order to have an idea of the entirety of the project. Use the Excel spreadsheets to complete the project.
Read October and November payrolls in Chapter 7 and follow along in the project template. Complete December payroll and-end-of-year transactions in the the project file and then answer the questions in the questions file. Submit both files for grading.
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Alexandria Lowell |
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Enter the appropriate numbers/formulas in the shaded (gray) cells. |
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An asterisk (*) will appear to the right of an incorrect answer. |
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7-Q4 |
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Student Work Area |
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Gross |
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Bonus |
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Wages |
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Rate |
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Bonus |
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Bonno |
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Ferguson |
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Ford |
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Mann |
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Ryan |
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Instructor Comment/Grade Area |
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Sokowski |
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Student |
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Woods |
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Young |
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Total |
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Name: |
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Enter the appropriate numbers/formulas in the shaded (gray) cells. |
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An asterisk (*) will appear to the right of an incorrect answer. |
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7-Q5 |
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Student Work Area |
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Calculation of accrued salaries and wages: |
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Biweekly |
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Biweekly |
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Gross |
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14 Days’ |
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Earnings |
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Accrual |
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Administrative Salaries: |
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O’Neill |
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$ 2,307.70 |
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$ 2,307.70 |
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Instructor Comment/Grade Area |
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Office Salaries: |
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Ford |
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$ 1,280.00 |
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$ 1,844.80 |
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Student |
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N/A |
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1,120.00 |
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Woods |
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1,200.00 |
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1,200.00 |
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Zimmerman |
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1,260.00 |
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1,260.00 |
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Total office salaries |
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$ 5,424.80 |
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Sales Salaries: |
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Ferguson |
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$ 2,250.00 |
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$ 3,150.16 |
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Mann |
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1,350.00 |
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1,151.70 |
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Young |
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1,260.00 |
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1,260.00 |
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Total sales salaries |
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$ 5,561.86 |
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Plant Wages: |
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Bonno |
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N/A |
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$ 1,976.80 |
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Ryan |
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N/A |
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1,440.00 |
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Sokowski |
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$ 2,050.00 |
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2,050.40 |
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Total plant wages |
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$ 5,467.20 |
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JOURNAL |
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DATE |
DESCRIPTION |
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DEBIT |
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CREDIT |
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20– |
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Adjusting Entry |
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Dec. 31 |
Administrative Salaries |
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2,307.70 |
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Office Salaries |
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5,424.80 |
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Sales Salaries |
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5,561.86 |
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Plant Wages |
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5,467.20 |
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Salaries and Wages Payable |
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18,761.56 |
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Name: |
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Enter the appropriate numbers/formulas in the shaded (gray) cells. |
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An asterisk (*) will appear to the right of an incorrect answer. |
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7-Q6 |
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Student Work Area |
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Rate or |
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Accrued |
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Vacation |
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Bi-weekly |
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Vacation |
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Benefits |
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Earnings |
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Benefits |
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Bonno |
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80 |
hours |
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$ 1,412.00 |
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Ferguson |
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3 |
weeks |
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3,375.00 |
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Ford |
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2 |
weeks |
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1,280.00 |
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Mann |
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1 |
week |
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675.00 |
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O’Neill |
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4 |
weeks |
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4,615.40 |
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Ryan |
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80 |
hours |
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1,440.00 |
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Instructor Comment/Grade Area |
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Sokowski |
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2 |
weeks |
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2,050.00 |
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Student |
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72 |
hours |
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1,008.00 |
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Woods |
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– |
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– |
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Young |
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– |
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– |
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Zimmerman |
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– |
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– |
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Total |
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$ 15,855.40 |
* |
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JOURNAL |
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DATE |
DESCRIPTION |
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DEBIT |
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CREDIT |
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20– |
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Adjusting Entry |
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Dec. 31 |
Vacation Benefits Expense |
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Vacation Benefits Payable |
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