w
 


r Student managers will prepare time cards

before the biweekly payroll register is
completed.
r Except for Pettisville Bank, every business will
hire a new employee during July and make
entries on the new employeeǯs time card each
day.






{. Federal Tax Deposit Cards
2. Notice of employment forms
3. Payroll registers
4. Time cards
÷ 


r Jll student managers make ${,352.00 biweekly
and claim zero exemptions.






r ½f you ask a coworker to punch your time card,
you can expect to be terminated from your job
immediately.
3

÷ 



r Errors made on payroll registers most often
originate from new employee time cards.
r Calculating overtime rates, listing daily hours
worked and computing total hours worked are
common mistakes.
r You should show your instructor the new
employeeǯs time card before completing the
biweekly payroll register.
÷ 


r Because of the size of their businesses, The
Denim Maker, Pettisville Bank, and United
Communications each have {{ or {2 employee
time cards.
r The remaining businesses have 5 or 6 time
cards.
r ëhen you are finished with your payroll, bring
it to your instructor.
r Jt this point your instructor will initial in the
upper right-hand corner of the form.
r Managers will write one check for DzCashdz to pay
their employees.
Two businesses do not write checks for payroll.
r The Post Office mails its payroll register to the
Postal Data Center for payment

r The Denim Maker uses electronic funds transfer

at Pettisville Bank. Jlthough The Denim Maker
does not write a check for payroll, the manager
should deduct the gross pay from the check
register and the cashbook.
r The value of employee benefits often adds
thousands of dollars a year to the total
compensation package for an employee.

r ½f there aretwo managers working at one

business, take turns preparing payroll. Payroll
is prepared on July {6 and July 30.
r Businesses normally write separate paychecks
for each employee of the company. Since
writing checks for every employee in this
simulation would be a cumbersome task, you
are asked to write one check for Dzcash.dz
r  








 º a percentage of a sale.


 
º fixed amount paid for each piece
assembled.
  º a fixed amount paid for a period of time
worked
ë

º a fixed amount paid for each hour worked.
÷ 



r F½CJ or Federal ½nsurance Contributions Jct
consists of two taxes
Social Security
Medicare
r ½n the model business community, Pettisville
Bank is a depository for the ½nternal
Revenue Service.


r This number is multiplied by2.
r The employer and the employee share the cost.
r ëhen an employee is hired, it costs the
company far more than just the employeeǯs
wages.
r Employers must pay both F½CJ and FUTJ which
is unemployment taxes on employees.

  3
r Jccountant
r Jccounting clerk
r Payroll clerk
r Timekeeping clerk