After studying Chapter 13, you will be able to:
- Define accounting terms related to payroll accounting, taxes, and reports.
- Identify accounting concepts and practices related to payroll accounting, taxes, and reports.
- Analyze payroll transactions and record a payroll.
- Record employer payroll taxes.
- Prepare selected payroll tax reports.
- Pay and record withholding and payroll taxes.
Lesson 13-1 Notes
- Obtain a copy of the notes handout.
- Read Lesson 13-1 on pages 368-372.
- As you read, utilize this presentation to help you fill in the missing parts on the handout.
Chapter 13 Folder
- Inside of your Part 2 folder, create a new folder titled Chapter 13. All your tasks completed in Chapter 13 should be stored in this folder.
Working Together 13-1
- Make a copy of this spreadsheet.
- Place this file in your Chapter 13 folder.
- Rename the file to Lesson 13-1 (Your Initials)
- Complete the spreadsheet according to the directions on page 372 or below.
On Your Own 13-1
- Butler Company’s payroll register has the following totals for the semimontly pay period, August 16-31 of the current year. T accounts and a cash payments journal page are provided in the Lesson 12-1 spreadsheet. Work this problem independently. Following the instructions on page 372 or below.
Total Earnings Federal Income Tax Withheld Social Security Tax Withheld Medicare Withheld $14,260.00 $1562.00 $884.12 $206.77
Self-Assessment 13-1
- Complete this self-assessment for Lesson 13-1. You can use your textbook and notes to complete this assessment.
Application Problem 13-1
- Using your Lesson 13-1 spreadsheet, click on the Application Problem 13-1 sheet at the bottom left, and complete the problem as directed on page 391 or below.