payroll project assignment

Excel Instructions:                                                                                                                
                                                                                                                                     
1.  Enter the appropriate numbers/formulas in the shaded (gray) cells.  An asterisk (*) will appear to the right of an incorrect answer.                   
                                                                                                                                     
2.  A formula begins with an equals sign (=) and can consist of any of the following elements:                                                   
      Operators such as + (for addition), – (for subtraction), * (for multiplication), and / (for division).                                            
      Cell references, including cell addresses such as B52, as well as named cells and ranges                                                       
      Values and text                                                                                                                         
      Worksheet functions (such as SUM)                                                                                                 
                                                                                                                                     
3.  You can enter a formula into a cell manually (typing it in) or by pointing to the cells.                                                          
     To enter a formula manually, follow these steps:                                                                                        
           Move the cell pointer to the cell that you want to hold the formula.                                                                        
          Type an equals sign (=) to signal the fact that the cell contains a formula.                                                              
          Type the formula, then press Enter.                                                                                                       
                                                                                                                                     
4.  Rounding:  These templates have been formatted to round numbers to either the nearest whole number or the nearest cent.  For example,            
17.65 x 1.5=26.475.  The template will display and hold 26.48, not 26.475. There is no need to use Excel’s rounding function.                      
         EXCEPTION: Continuing Payroll Problems A & B:                                                                             
             When calculating over-time rate for weekly salary,  round regular rate to TWO decimals BEFORE calculating overtime rate.  
             Rounding can be accomplished by using Number function (using arrows) on Excel Home menu or by entering the formula          
              =(Round(Weekly/40,2))*1.5  Where “Weekly” entered as either the weekly pay or cell reference.                                
             Failure to use the ROUND function will cause the OT rate to be incorrect.                                                         
                                                                                                                                     
5.  Remember to save your work.  When saving your workbook, Excel overwrites the previous copy of your file.   You can save your work at any time.          
You can save the file to the current name, or you may want to keep multiple versions of your work by saving each successive version under a different name.
To save to the current name, you can select File, Save from the menu bar or click on the disk icon in the standard toolbar.                         
It is recommended that you save the file to a new name that identifies the file as yours, such as Excel_End_of_Chapter_Problems_Your_Name.xlsx     
To save under a different name, follow these steps:                                                                                        
       Select File, Save As to display the Save As Type drop-box, chose Excel Workbook (*.xlsx)                                                      
       Select the folder in which to store the workbook.                                                                                               
       Enter the new filename in the File name box.                                                                                          
       Click Save.                                                                                                                       
                                                                                                                                     
Enter the appropriate numbers/formulas in the shaded (gray) cells.
An asterisk (*) will appear to the right of an incorrect answer.
                                                                                     
7-Q4                                                                    
                                                                                           
                                                  Gross          Bonus                   
                                                  Wages         x        Rate  =       Bonus
          Bonno                                                                    
          Ferguson                                                                
          Ford                                                                        
          Mann                                                                                
          Ryan                                                                       
          Sokowski                                                                
          Student                                                                  
          Woods                                                                    
          Young                                                                    
               Total                                                                  
                                                                                           
 
Name:                                   
                                                                                                         
Enter the appropriate numbers/formulas in the shaded (gray) cells.                      
An asterisk (*) will appear to the right of an incorrect answer.                       
                                                                                                         
7-Q5                                                                                       
                                                                                                               
          Calculation of accrued salaries and wages:                                                
                                                                                Biweekly             Biweekly   
                                                                                Gross          14 Days’     
                                                                                Earnings             Accrual      
          Administrative Salaries:                                                                      
                    O’Neill                                                                             
                                                                                                               
          Office Salaries:                                                                
                    Ford                                                                        
                    Student                                              N/A                               
                    Woods                                                                              
                    Zimmerman                                                                    
                    Total office salaries                                                                   
                                                                                                               
          Sales Salaries:                                                                  
                    Ferguson                                                                
                    Mann                                                                                
                    Young                                                                              
                    Total sales salaries                                                          
                                                                                                               
          Plant Wages:                                                                              
                    Bonno                                               N/A                      
                    Ryan                                        N/A                      
                    Sokowski                                                                
                    Total plant wages                                                                     
                                                                                                               
                                                                                                         
                                                                                                         
JOURNAL
                                                                                                               
          DATE        DESCRIPTION          DEBIT                CREDIT   
          20–             Adjusting Entry                                          
          Dec. 31       Administrative Salaries                                                   
                              Office Salaries                                                                 
                              Sales Salaries                                                                   
                              Plant Wages                                                                     
                                        Salaries and Wages Payable