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Payroll Accounting (ACCT 1230)

Total Credits: 3
Lecture Credits: 3

Description: This course covers federal laws pertaining to the computation and payment of salaries and wages. You will prepare employment records, timesheets, payroll register, employee earnings records and state and federal reports, including year-end reporting. You will learn and calculate the payroll cycle from timesheets to year-end reporting.

Topical Outline:
1. Laws pertaining to Payroll such as Wages and Fair Labor Standards Act, Social Security, Federal, State, and Unemployment Tax Laws
2. Journal entries and General Ledger
3. Payroll Register
4. Employee Earnings Records
5. Payroll Forms and Tax Forms

Learning Outcomes:
1. Identify the various laws that affect employers in their payroll operations
2. Calculate regular, overtime, piecework, commission pay and deductions
3. Determine current tax rates such as federal, state, FICA, unemployment taxes
4. Prepare various payroll forms and tax forms by the deadline
5. Create journal entries after each payroll period.
6. Create payroll registers and employees earnings records for every pay period

Prerequisites:  Placement into READ 0200 or ESOL 0052 or completion of READ 0100 or ESOL 0042