Glencoe Accounting

Chapter 12: Payroll Accounting

Homework Practice

Calculating Missing Payroll Amounts

Some items have been omitted in the following summary of data for a recent payroll period for Browning Company.

Instructions

Download the 2-column stationery form by clicking on Accounting Forms from the Student Center. Solve for the unknowns.

Earnings:

 

1. At regular rate

?

2. At overtime rate

$ 44,200

3. Total earnings

?

Deductions:

 

4. Social security (6.2% of gross earnings)

?

5. Medicare (1.45% of gross earnings)

?

6. Total income tax withheld

$ 47,915

7. Medical insurance

$ 7,860

8. Union dues

?

9. Total deductions

$ 80,000

Net amount paid

$189,000

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