Answer To: I need to complete a Payroll Project. The template has been attached as well as a transcription of...
Robert answered on Jun 01 2022
Excel Templates for Bieg Payroll Project 2011
Excel Instructions
Excel Instructions
CAUTION: Read Appendix A for specific instructions relating to these templates.
1. Enter the appropriate numbers/formulas in the shaded (gray) cells. An asterisk (*) will appear to the right of an incorrect answer.
2. A formula begins with an equals sign (=) and can consist of any of the following elements:
Operators such as + (for addition), - (for subtraction), * (for multiplication), and / (for division).
Cell references, including cell addresses such as B52, as well as named cells and ranges
Values and text
Worksheet functions (such as SUM)
3. You can enter a formula into a cell manually (typing it in) or by pointing to the cells.
To enter a formula manually, follow these steps:
Move the cell pointer to the cell that you want to hold the formula.
Type an equals sign (=) to signal the fact that the cell contains a formula.
Type the formula, then press Enter.
4. Rounding: These templates have been formatted to round numbers to either the nearest whole number or the nearest cent. For example,
17.65 x 1.5=26.475. The template will display and hold 26.48, not 26.475. There is no need to use Excel's rounding function.
5. Remember to save your work. When saving your workbook, Excel overwrites the previous copy of your file. You can save your work at any time.
You can save the file to the current name, or you may want to keep multiple versions of your work by saving each successive version under a different name.
To save to the current name, you can select File, Save from the menu bar or click on the disk icon in the standard toolbar.
It is recommended that you save the file to a new name that identifies the file as yours, such as Chapter_7_long_version_Your_Name.xlsx
To save under a different name, follow these steps:
Select File, Save As to display the Save As Type drop-box, chose Excel Workbook (*.xlsx)
Select the folder in which to store the workbook.
Enter the new filename in the File name box.
Click Save.
Journal
JOURNAL Page 41
DATE DESCRIPTION POST. REF. DEBIT CREDIT
20--
Oct. 9 Payroll Cash 12 12,340.13
Cash 11 12,340.13
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 24 836.00
Employees SIT Payable 25 474.55
Employees SUTA Payable 25.1 9.25
Employees CIT Payable 26 598.37
Union Dues Payable 28 16.00
Payroll Cash 12 12,340.13
9 Payroll Taxes 56 1,381.61
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 22 176.26
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 Insaurance Premium 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
Employeed 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 Payable - 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 Employee CIT 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 4,614.40
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 Insaurance Premium 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 56 1,113.15
FICA Taxes Payable - OASDI 20.1 863.17
FICA Taxes Payable - HI 20.2 201.87
SUTA Taxes Payable - Employer 22 48.11
JOURNAL Page 46
DATE DESCRIPTION POST. REF. DEBIT CREDIT
20--
JOURNAL Page 47
DATE DESCRIPTION POST. REF. DEBIT CREDIT
20--
31-Jan 31-Dec 30-Nov 31-Oct
124,817.09 124,817.09 124,817.09 124,817.09
0.00 0.00 0.00 65,883.51
124,817.09 124,817.09 124,817.09 58,933.58
JOURNAL Page 48
DATE DESCRIPTION POST. REF. DEBIT CREDIT
20--
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): 124,815.09 124,817.09
Your debits and credits should be equal after each journal entry is complete
Cumulative Journal Checkpoint Through Month Ending
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--
DATE ITEM REF. DEBIT CREDIT DEBIT CREDIT Nov. 30, 20--
20-- Dec. 31, 20--
Oct. 1 Balance a 199,846.33
9 J41 12,340.13 187,506.20
20 J41 474.55 187,031.65
23 J41 12,115.19 174,916.46
Nov. 4 J42 484.42 174,432.04
6 J42 32.00 174,400.04
6 J43 11,893.42 162,506.62
13 J43 1,428.45 161,078.17
16 J44 7,045.02 154,033.15
16 J44 1,218.32 152,814.83
16 J44 537.00 152,277.83
20 J44 9,216.00 143,061.83
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 12,340.13 12,340.13 Dec. 31, 20--
9 J41 12,340.13 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
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--
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 863.17 3,895.24
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--
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
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--
9 J41 22.91 415.85
23 J42 4.15 420.00
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-- 352.52
20-- Nov. 30, 20--
Oct. 9 J41 176.26 176.26 Dec. 31, 20--
23 J42 176.26 352.52
Nov. 6 J43 164.72 517.24
20 J45 48.11 565.35
ACCOUNT: EMPLOYEES FIT PAYABLE ACCOUNT NO. 24 Checkpoints
Debit Credit
POST. BALANCE Balance Balance
DATE ITEM REF. DEBIT CREDIT DEBIT CREDIT Oct. 31, 20--
20-- Nov. 30, 20--
Oct. 9 J41 836.00 836.00 Dec. 31, 20--
23 J42 1,148.00 1,984.00
Nov. 6 J43 1,238.00 3,222.00
13 J44 331.00 3,553.00
16 J44 2,266.00 1,287.00
20 J44 828.00 2,115.00
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--
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
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--
20-- Nov. 30, 20--
Oct. 9 J41 9.25 9.25 Dec. 31, 20--
23 J42 11.07 20.32
Nov. 6 J43 10.82 31.14
13 J44 1.46 32.60
20 J44 9.77 42.37
ACCOUNT: EMPLOYEES CIT PAYABLE ACCOUNT NO. 26 Checkpoints
Debit Credit
POST. BALANCE Balance Balance
DATE ITEM REF. DEBIT CREDIT DEBIT CREDIT Oct. 31, 20--
20-- Nov. 30, 20--
Oct. 9 J41 598.37 598.37 Dec. 31, 20--
23 J42 615.43 1,213.80
Nov. 6 J43 601.12 1,814.92
13 J44 81.10 1,896.02
16 J44 1,218.32 677.70
20 J44 543.02 1,220.72
ACCOUNT: GROUP INSURANCE PREMIUMS COLLECTED ACCOUNT NO. ...