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

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Presentation transcript:

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

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 2 LESSON 12-1 TERMS REVIEW salary pay period payroll total earnings page 344

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 3 LESSON 12-1 ANALYZING A PAYROLL TIME CARD page 341

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 4 LESSON Add the Hours column. CALCULATING EMPLOYEE HOURS WORKED page 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.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 5 LESSON 12-1 CALCULATING EMPLOYEE TOTAL EARNINGS page 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.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning Over time – Normal rate is $11.80 OT rate would be $11.80 * 1.5 (time and half) = Normal rate is $9.80 OT rate would be $9.80 * 1.5 = $14.70 Application 12-1 is on – 3 time cards for employees – NO PROBLEM GETTING IT DONE 6 LESSON 12-1