11 Payroll completed by Mcgraw hill

This is the lecture on payroll that includes a comparison of a W2 employee to an 1099 independent contractor. This narrated Power Point includes all the details of calculating gross pay and doing withholding required by federal law resulting in 'net' pay. This demonstrates the use of a payroll register for doing payrolls and the journalizing process required. It continues to include other payroll requirements of employers such as paying for unemployment insurance and "Workman's Comp" which is health, disability and death insurance for employees. These are benefits provided to employees by employers at the later's expense and required by law. This presentation covers the entire Payroll cycle that both the employer and employee experience each time an employee works, is paid and the employer pays all withholding obligations.