4. Employee Compensation Record, 5. Annual Summary, and 6. Depreciation Worksheet
4. Employee Compensation Record, 5. Annual Summary, and 6. Depreciation Worksheet
Summary: These are examples of the recordkeeping that was done as pertains to the sample in the text. They contain the following information:
4. Employee Compensation Record
Name: John E. Marks |
Address: 1 Elm Street, Anytown, New Jersey 07101 |
Phone: 555-6075 |
Part Time checkbox checked |
Social Security Number: 567-00-8901 |
Date of Birth: 12-21-65 |
Number of Exemptions: 1/single |
Pay Period Ending | Date Paid | S | M | T | W | T | F | S | M | T | W | T | F | S | Total Regular Hours | Overtime | Regular Rate | Overtime Rate | Total | Social Security | Medicare | Federal Income Tax | State Income Tax | Net Pay |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1-1 | 1-4 | 5 | 5 | 5 | 5 | 5 | 5 | 4 | 6 | 40 | $6.50 | $260.00 | $16.12 | $3.77 | $20.00 | $6.00 | $214.11 | |||||||
1-15 | 1-18 | 4 | 4 | 4 | 4 | 4 | 2 | 4 | 3 | 4 | 4 | 3 | 40 | $6.50 | $260.00 | $16.12 | $3.77 | $20.00 | $6.00 | $214.11 | ||||
80 | $520.00 | $32.24 | $7.54 | $40.00 | $12.00 | $428.22 | ||||||||||||||||||
QUARTERLY TOTALS | $1,262.40 | $78.23 | $18.31 | $100.00 | $30.00 | $1,035.86 |
5. Annual Summary
Month | Cash Receipts | Materials/ Supplies | Gross Payroll | F.I.C.A. Taxes | Bank Charges | Electric | Interest | Insurance | Rent | Telephones | Truck/ Auto | Advertising | Office Expenses | Taxes/ Licenses | Miscellaneous |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
January | $4,865.05 | $1,083.50 | $520.00 | $39.78 | $10.00 | $175.30 | $18.09 | $300.00 | $27.00 | $45.00 | $85.00 | $36.00 | $100.00 | $2.00 | |
February | $3,478.32 | 874.93 | 235.40 | 17.68 | 7.50 | 153.10 | 18.09 | 210.00 | 300.00 | 21.50 | 28.50 | ||||
March | 3,942.00 | 724.90 | 507.00 | 38.08 | 11.25 | 145.81 | 18.09 | 300.00 | 32.10 | 51.30 | |||||
December | 3,656.52 | 609.23 | 520.00 | 39.78 | 10.00 | 169.00 | 18.09 | 300.00 | 23.13 | 37.62 | 4.00 | 71.91 | |||
TOTALS | $47,440.95 | $10,001.00 | $5,434.00 | $408.09 | $92.30 | $1,642.37 | $217.08 | $420.00 | $3,600.00 | $324.09 | $571.46 | $85.00 | $40.00 | $218.00 | $344.00 |
6. Depreciation Worksheet
Description of Property | Date Placed in Service | Cost or Other Basis | Business/ Investment Use % | Section 179 Deduction and Special Allowance | Depreciation Prior Years | Basis for Depreciation | Method/ Convention | Recovery Period | Rate or Table % | Depreciation Deduction |
---|---|---|---|---|---|---|---|---|---|---|
Used Equipment--Transmission Jack | 1-3 | 3,000 | 100% | 3,000 | 200 D.B./H.Y. | 7 | 14.29% | $429 | ||
Used Pickup Truck | 1-3 | 8,000 | 100% | 8,000 | 200 D.B/H.Y. | 5 | 20% | 1,600 | ||
Used Heavy Duty Tow Truck | 1-3 | 30,000 | 100% | 30,000 | 200 D.B./H.Y. | 5 | 20% | 6,000 | ||
Used Equipment--Engine Hoist | 1-3 | 4,000 | 100% | 4,000 | 200 D.B./H.Y. | 7 | 14.29% | 572 | ||
$8,601 |