ACCTG 220 - Payroll Accounting
Credit Hours: 3
Billable Contact Hours: 3
Prerequisites: ACCTG 151
Session Cycle: FW
This course covers the analysis and recording of payroll transactions and the filing requirements of payroll reports. It will also focus on the various phases of the Social Security Taxes, Federal Income Taxes, State Income Taxes and Unemployment Compensation and the laws relating to them. A payroll project is required where the student will apply their analytical and procedural skills learned in this course.
Notes:
Business Division
Theory Hours: 45
Learning Outcomes:
1. Identify legislation and apply federal income tax laws that affect payroll and business.
Applies To Accounting, A.A.S. Program Outcomes E
2. Calculate gross pay for salary and wage employees, including overtime and compute federal income tax withholding.
Applies To Accounting, A.A.S. Program Outcomes A, D, E
3. Record payroll transactions in the payroll register and the employee’s earnings records, and prepare payroll related journal entries.
Applies To Accounting, A.A.S. Program Outcomes A, B, D, E
4. Complete federal payroll tax forms including W-4, W-2, and 1099 forms, the Employer’s Federal Quarterly Tax Return (941 ), and the Employer’s Annual Federal Unemployment Return (940).
Applies To Accounting, A.A.S. Program Outcomes C, D, E
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