Objectives:
Journalize all payroll transactions and record withholding and payroll taxes.
I. Bell work
A. Explore Accounting pg. 360
What guidelines govern financial statements?
What guidelines govern tax returns?
What is the end result?
II Class work
A. Pg. 362 14-5 Mastery Problem
B. Page 367 Automate Mastery Problem 14-5 (F14-1)
III. Test Next Tuesday
Objectives:
Identify accounting concepts and practices related to payroll accounting, taxes, and reports.
Pay and record withholding and payroll taxes.
I. Bellwork pg. 359
A. Q&A 1-2
II. 14-4 paying withholding + payroll taxes
A. Record & Discuss pg. 354-358
Paying the Liability
Form 8109
Journalizing Payment of Liability
Paying liability of Federal unemployment tax
Journalizing payment for Federal unemployment tax
Journalizing payment for state unemployment tax
III. Review – 14-4 PPT
IV. Classwork
A. 3-6 WB pgs. 313-314
B. Pg. 362 14-4 WB pgs. 321-322
Objectives:
Prepare selected payroll tax reports
I) Bellwork pg. 353
A. 1-2 Q+A
II) 14-3 Reporting Withholding & Payroll Taxes
A. Read & Discuss pgs. 349-352
1. Form W-2 for employees
2. Form 941 Quarterly Federal Tax Return
3. Preparing a 941
4. W-3 Form
III. Review – 14-3 PPT
IV. Classwork pg. 353
A. 3 & 4 WB pgs. 311-312
B. Pg. 362 14-3 WB g. 319
Objectives
Identify accounting concepts and practices related to recording a payroll.
Analyze payroll transactions and record a payroll.
I. Bellwork
A. Pg. 343 1-4 Q+A
II. Notebook work pg. 339
A. Critical Thinking 1-3 Q+A
III. 14-1 Recording a payroll
A. Read & Discuss pgs. 340-342
1. Payroll Register
2. Analyzing payment of a payroll
3. Journalizing payment of a payroll
IV. Review – 14-1 PPT
V) Classwork
A) Page 343 5-8 WB pgs 307-308
B) pg. 361 14-1 WB pg 315
Objective:
I. Bellwork Q & A
A. How are an employees cumulative earnings determined?
B. From where is the information to complete an employee earnings record obtained?
II. Classswork
A. Pg 334 Challenge Problem 13-7 wb pg 305
Objectives:
I. Bellwork
A. Round these amounts to the nearest penny
II. Turn in Recycle Problem 13C
III. Chapter 13 Test
Objective:
I. Bellwork
A. What two items may appear in the other column of the payroll register?
B. What are the 2 symbols (abbreviations) that appear at the left of the amounts for items in the other column?
II. Turn in Review Sheet
III. Classwork
A. Recycle Problem 13C
IV. Chapter 13 Test Tomorrow
Objective:
- Define and identify terms and practices related to payroll records
- Determine federal income tax withholding
I. Bellwork
A. What number (be specific) is used to determine that amount of the total payroll check?
B. How much withholding would a single person with 4 allowances and wages of $1350 have?
C. How much withholding would a married person with 4 allowances and wages of $1350 have?
II. Turn in WB pages 299-303
III. Notebook pg. 335
A. Case 1 Q+A
1. Do you agree with the new manager or the accounting clerk? Explain your
response.
IV. Classwork
A. Chapter 13 Study Guide
B. Determining Federal Income Tax: Handout Parts 1 & 2
Use schedules on Pages 318 & 319
V. Test on Thursday
Objectives:
Complete a payroll register and an employee earnings record.
Prepare payroll check
I. Bellwork – Questions & Answers
A. Explore Accounting pg. 330
How does tax responsibility offer between an employee and an independent contractor?
What determines whether an individual is an employee or contractor?
Why does the IRS care about this classification?
II. Class work pg. 333
A. Page 332-333 13-5 wb page 299
B. Page 333 13-6 WB pg. 301-303
III. Test Wednesday
Objective:
Complete a payroll register and an employee earnings record.
Prepare payroll check
I. Bellwork
II. Classwork
A. Pg. 331 13-3 WB pg. 295
B. Pg 332 13-4 WB pg. 297
III. Notebook Check