1. CHAPTER 5 Chapter 7 Payroll Project Developed by Lisa Swallow, CPA CMA MS Payroll Accounting 2012 Bernard J. Bieg and Judith A. Toland

2. How to do the Payroll Project  Start by Downloading the template from the Assignment link in Unit 8  This template is color coded by Payroll, the Payroll register and the journal match by color  You will complete the work in Chapter 7

3. Steps to Complete Work VERY IMPORTANT!!!!!! Read everything carefully Pages 7-2 through 7-6 give the company information and the employee details Read and trace the transactions for the October 9 th Payroll that has been done for you (pages 7-7 through 7- 10) If you have questions-ask sooner rather than later, and attach your template so that I can see where you are. Take your time and start early.

4. Total Points The Final Project is worth 210 points; the final project will be broken down into six (6) parts. For each part of the payroll project you should complete the Journal, General Ledger, Payroll Register, and the Employee Earnings Record as applicable. When completing the Payrolls, complete the payroll register first, then transfer each employee’s amounts to the Employee Earnings Record, then complete the Journal entries applicable to the payroll, and then post to the general ledger.

5. Steps to Complete Work You have payrolls for the following dates: October 9 (this one has been done for you) October 23 November 6 November 13 November 20 December 4 December 14 December 18 There are transactions between the payrolls that require journal entries to record the payroll taxes and deposit of taxes

6. The order to complete the work 1. Complete the Payroll register first 2. Transfer the individual employee payroll data to the employee earnings record 3. Complete the General Journal Be sure that when it says a deposit was made that you record it in the journal 4. Post to the General Ledger

7. Submitting your Work Each Part of the project will be submitted separately for grading, you will submit the entire template, and the instructor will grade each part separately and award points based on completion and correctness. Be sure to look at the feedback provided by the instructor for corrections that may affect your ending balances.

8. Unit 8 Complete the Payrolls, Employee Earnings Record, Journal Entries and Post to the Ledger for: October 9 (this one has been done for you) October 23 November 6 November 13 You must use the template provided-work will not be graded if the template is not used

9. Unit 8 Continued Part 1 (35 points) October 20th – November 4th on pages 7‐11 and 7‐12 in the template this is color coded yellow. Use Journal page 42. (Due in Unit 8) Part 2 (35 points) November 6th ‐ 18th on pages 7‐12, 7‐13 and 7‐14 in the template this is color coded blue. Use Journal page 43. (Due in Unit 8) Part 3 (35 points) November 20th and 30th on pages 7‐14, 7‐15 and 7‐16 in the template this is color coded dark pink. Use Journal page 44. (Due in Unit 8)

10. Unit 9 Complete the Payrolls, Employee Earnings Record, Journal Entries and Post to the Ledger for: November 20 December 4 December 14 December 18 You must use the template provided-work will not be graded if the template is not used

11. Unit 9 Continued Part 4 (35 points) December 3rd‐ 4th on pages 7‐16 in the template this is color coded orange. Use Journal page 45. (Due in Unit 9) Part 5 (35 points) December 9th – 15th on page 7‐17, in the template this is color coded tan. Use Journal page 46. (Due in Unit 9) Part 6 (35 points) December 18th – February 1st on pages 7‐17 through 7‐20, in the template this is color coded Blue. Use Journal page 47. (Due in Unit 9)

12. Check Figures for the Payrolls October 9 (this one has been done for you) Total Earnings: $14,162.77 Net Pay: $ 11,058.80 October 23 Total Earnings: $14,484.69 Net Pay: $ 11,131.63 November 6 Total Earnings: $ 14,130.48 Net Pay: $ 10,897.23

13. Check Figures for the Payrolls November 13 Total Earnings: $ 2,079.32 Net Pay: $ 1,412.13 November 20 Total Earnings: $ 12,640.23 Net Pay: $ 8,240.91 December 4 Total Earnings: $ 14,431.09 Net Pay: $ 9,722.77

14. Check Figures for the Payrolls December 14 Total Earnings: $ 1,425.16 Net Pay: $ 1,306.30 December 18 Total Earnings: $ 74,922.49 Net Pay: $ 39,367.66

15. Questions?