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CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 12-1 LESSON 12-1 Preparing Payroll Time Cards

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Page 1: CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 12-1 Preparing Payroll Time Cards

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning

LESSON 12-1LESSON 12-1

Preparing Payroll Time Cards

Page 2: CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 12-1 Preparing Payroll Time Cards

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LESSON 12-1CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning

ANALYZING A PAYROLL TIME CARDANALYZING A PAYROLL TIME CARD page 341

Page 3: CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 12-1 Preparing Payroll Time Cards

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LESSON 12-1CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning

4. Add the Hours column.

CALCULATING EMPLOYEE HOURS CALCULATING EMPLOYEE HOURS WORKEDWORKED page 342

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22

3344

3. Add Hours Reg and Hours OT columns and enter the totals.

2. Calculate the number of overtime hours and enter the amounts.

1. Calculate the number of regular hours for each day and enter the amounts.

Page 4: CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 12-1 Preparing Payroll Time Cards

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LESSON 12-1CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning

CALCULATING EMPLOYEE TOTAL CALCULATING EMPLOYEE TOTAL EARNINGSEARNINGS page 343

33

1122

4455

1. Enter the rate for regular time in the Rate column.

2. Calculate the regular earnings. Enter the amount.

3. Enter the rate for overtime.

4. Calculate the overtime earnings. Enter the amount.

5. Add the Amount column to calculate total earnings. Enter the amount of total earnings.

Page 5: CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 12-1 Preparing Payroll Time Cards

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LESSON 12-1CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning

TERMS REVIEWTERMS REVIEW

salary pay period payroll total earnings

page 344

Page 6: CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 12-1 Preparing Payroll Time Cards

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning

LESSON 12-2LESSON 12-2

Determining Payroll Tax Withholding

Page 7: CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 12-1 Preparing Payroll Time Cards

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LESSON 12-1CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning

EMPLOYEE’S WITHHOLDING EMPLOYEE’S WITHHOLDING ALLOWANCE CERTIFICATEALLOWANCE CERTIFICATE

112233

44

55

page 346

1. Write the employee’s name and address2. Write the employee’s social security number.3. Check the appropriate marital status block.4. Write the total number of withholding allowances claimed.5. The employee signs and dates the form.

Page 8: CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 12-1 Preparing Payroll Time Cards

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LESSON 12-1CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning

EMPLOYEE’S INCOME TAX EMPLOYEE’S INCOME TAX WITHHOLDING – MARRIED PERSONSWITHHOLDING – MARRIED PERSONS page 348

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1. Select the appropriate table.

2. Locate the employee’s total earnings.

3. Intersection of wages and number of allowances column.

Page 9: CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 12-1 Preparing Payroll Time Cards

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LESSON 12-1CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning

TERMS REVIEWTERMS REVIEW

payroll taxes withholding allowance social security tax Medicare tax tax base

page 350

Page 10: CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 12-1 Preparing Payroll Time Cards

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning

LESSON 12-3LESSON 12-3

Preparing Payroll Records

Page 11: CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 12-1 Preparing Payroll Time Cards

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LESSON 12-1CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning

PAYROLL REGISTERPAYROLL REGISTER

77 88 99 1010 1111

1212

page 351

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44 55 66

1313

8. Health insurance premium deductions2. Payment date

3. Employee personal data9. Other employee payroll deductions

4. Earnings10. Total deductions

5. Federal income tax withheld11. Net pay

6. Social security tax withheld12. Total, prove, and rule

7. Medicare tax withheld13. Check number

1. Pay period date

Page 12: CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 12-1 Preparing Payroll Time Cards

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LESSON 12-1CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning

EMPLOYEE EARNINGS RECORDSEMPLOYEE EARNINGS RECORDS page 353

7. Total and prove

5. Earnings, deductions, net pay

2. Employee personal data

11

1. Last day of quarter

4. Pay period

3. Beginning accumulated earnings

6. Updated accumulated earnings

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Page 13: CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 12-1 Preparing Payroll Time Cards

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LESSON 12-1CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning

TERMS REVIEWTERMS REVIEW

payroll register net pay employee earnings record

page 355

Page 14: CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 12-1 Preparing Payroll Time Cards

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning

LESSON 12-4LESSON 12-4

Preparing Payroll Checks

Page 15: CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 12-1 Preparing Payroll Time Cards

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LESSON 12-1CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning

PAYROLL BANK ACCOUNTPAYROLL BANK ACCOUNT

1. Prepare the check stub.

page 356

2. Prepare the check.

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Page 16: CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 12-1 Preparing Payroll Time Cards

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LESSON 12-1CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning

EMPLOYEE’S PAYROLL CHECKEMPLOYEE’S PAYROLL CHECK page 357

1. Prepare the check stub of each employee’s payroll check.

2. Prepare each employee’s payroll check.

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