Payroll Accounting,
32e
Chapter 7: Payroll Project
Bieg/Toland, Payroll Accounting 2022, 32nd Edition. © 2022 Cengage. All Rights Reserved. May n
scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
, Chapter Objectives
By the end of this chapter, you should be able to:
07.01 Prepare payroll registers (slides 04-18).
07.02 Maintain employees’ earnings records (slides 19-21).
07.03 Journalize and post payroll and payroll tax entries (slides 22-25).
07.04 Complete federal, state, and city tax deposit forms and journalize the transactions
26-32).
07.05 Prepare various quarter-end and year-end payroll tax forms (slides 33-35).
07.06 Make the accrual entries for the payroll at the end of a year (slides 36-38).
Bieg/Toland, Payroll Accounting 2022, 32nd Edition. © 2022 Cengage. All Rights Reserved. May n
copied or duplicated, or posted to a publicly accessible website, in whole or in part.
, Books of Account and Payroll Records
• Journal
• Two-column general journal to record all transactions affecting the accounts in the
general ledger
• Book of original entry that serves as a posting medium for transactions affecting the
payroll accounts
• General ledger
• Used in keeping the payroll accounts and is ruled with balance-column ruling
• Makes it possible to keep a continuous record of each account balance
• Partial chart of accounts of Glo-Brite Paint Company, consisting of only the accoun
are required for completing the project, is in Figure 7.1
Bieg/Toland, Payroll Accounting 2022, 32nd Edition. © 2022 Cengage. All Rights Reserved. May n
copied or duplicated, or posted to a publicly accessible website, in whole or in part.
, General Information of Glo-Brite Paint Compan
(1 of 4)
• Regular hours of work
• Workweek for all employees is 40 hours
• For student, it is a 36-hour schedule
• Office is open from 8:00 A.M. to 5:00 P.M. each day, except weekends
• Plant operates on a five-day workweek of eight hours per day
• Normal working hours from 7:00 A.M. to 11:00 A.M. and 12:00 P.M. to 4:00 P.M
• Overtime
• All employees except the exempt administrative employees are paid time and a ha
any overtime exceeding 40 hours a week
• Workers in the plant are paid
• Time and a half for any hours worked over eight each workday and for work on
Saturdays
• Twice the regular hourly rate of pay for work on Sundays or holidays
Bieg/Toland, Payroll Accounting 2022, 32nd Edition. © 2022 Cengage. All Rights Reserved. May n
copied or duplicated, or posted to a publicly accessible website, in whole or in part.
32e
Chapter 7: Payroll Project
Bieg/Toland, Payroll Accounting 2022, 32nd Edition. © 2022 Cengage. All Rights Reserved. May n
scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
, Chapter Objectives
By the end of this chapter, you should be able to:
07.01 Prepare payroll registers (slides 04-18).
07.02 Maintain employees’ earnings records (slides 19-21).
07.03 Journalize and post payroll and payroll tax entries (slides 22-25).
07.04 Complete federal, state, and city tax deposit forms and journalize the transactions
26-32).
07.05 Prepare various quarter-end and year-end payroll tax forms (slides 33-35).
07.06 Make the accrual entries for the payroll at the end of a year (slides 36-38).
Bieg/Toland, Payroll Accounting 2022, 32nd Edition. © 2022 Cengage. All Rights Reserved. May n
copied or duplicated, or posted to a publicly accessible website, in whole or in part.
, Books of Account and Payroll Records
• Journal
• Two-column general journal to record all transactions affecting the accounts in the
general ledger
• Book of original entry that serves as a posting medium for transactions affecting the
payroll accounts
• General ledger
• Used in keeping the payroll accounts and is ruled with balance-column ruling
• Makes it possible to keep a continuous record of each account balance
• Partial chart of accounts of Glo-Brite Paint Company, consisting of only the accoun
are required for completing the project, is in Figure 7.1
Bieg/Toland, Payroll Accounting 2022, 32nd Edition. © 2022 Cengage. All Rights Reserved. May n
copied or duplicated, or posted to a publicly accessible website, in whole or in part.
, General Information of Glo-Brite Paint Compan
(1 of 4)
• Regular hours of work
• Workweek for all employees is 40 hours
• For student, it is a 36-hour schedule
• Office is open from 8:00 A.M. to 5:00 P.M. each day, except weekends
• Plant operates on a five-day workweek of eight hours per day
• Normal working hours from 7:00 A.M. to 11:00 A.M. and 12:00 P.M. to 4:00 P.M
• Overtime
• All employees except the exempt administrative employees are paid time and a ha
any overtime exceeding 40 hours a week
• Workers in the plant are paid
• Time and a half for any hours worked over eight each workday and for work on
Saturdays
• Twice the regular hourly rate of pay for work on Sundays or holidays
Bieg/Toland, Payroll Accounting 2022, 32nd Edition. © 2022 Cengage. All Rights Reserved. May n
copied or duplicated, or posted to a publicly accessible website, in whole or in part.
