Payroll Procedures and Control: Worthy & James Publishing

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	Table of Contents

What is Payroll?	1
Getting Help	1
Diagram of the Payroll Process	2
Employees	3
Independent Contractors	4
Statutory Employees	5
Employee Identification and Internal Control	5
Gross Pay	8
Income Tax Withholding	10
Social Security (FICA) Withholding	12
Other Withholding	14
Employer Payroll Taxes	16
Employer Benefits Expenses	19
Recording the Payroll: The Payroll Register	22
Recording the Payroll: Journal Entries	24
Recording the Payroll: Employee Earnings Records	25
Making Payments	28
Submitting Forms and Reports	32
Financial Statement Presentation and Accruals	34
Quick Review and Vocabulary	36
Practice Questions and Problems	38
Solutions to Questions and Problems	49

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Worthy & James Publishing is a provider of basic accounting books covering fundamental accounting principles, business accounting, and business math. Topics in financial accounting and business accounting covered include the balance sheet, the income statement, financial ratios, and bank reconciliation.