Chapter 12

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century 21 accounting 2009 South-Western, Cengage Learning Chapter 12 Objectives: accounting terms related to payroll records accounting practices related to payroll records a payroll time card payroll taxes a payroll register and an employee earnings record payroll checks century 21 accounting 2009 South-Western, Cengage Learning LESSON 12-1 - Preparing Payroll Time Cards Salary money paid for employee services Pay period period covered by a salary payment A business may decide to pay employee salaries every week, every two weeks, twice a month, or once a month How may pays would an employee receive in a year if he/she were Biweekly (every two weeks)...26 Semimonthly (twice a month)...24 Payroll total amount earned by all employees for a pay period Employees can be paid based on hours worked (wages), a fixed amount each pay (salary), commissions Time cards used to record how much time an employee worked 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 12-1 4.

CENTURY 21 ACCOUNTING © 2009 South -Western, Cengage Learning LESSON 12-1 - Preparing Payroll Time Cards Salary – money paid for employee services

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