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| Leslie Fugate - Ch.13
Accounting I
Mrs. Leslie Fugate Lesson Plan Overview for Week of March
6, 2000 7:55-8:45, Period 1 (50 minutes) Materials Needed:
Red pen, blue pen, pencils, chalk, overhead markers, eraser, soft cloth,
overhead projector, daily attendance sheet, chalkboard, grade book, class
roster, school schedule, seating chart, teachers' texts, teacher's working
papers, transparencies, handouts Monday:
Hand back tests on Chapter 12, go over and make any grading corrections.
Introduce new topic: Payroll records, introduce time card exercise Tuesday:
Calculate employee hours and calculate employee total earnings Wednesday:
Calculating employee payroll taxes deducted, preparing payroll records,
cutting payroll check Thursday:
Accounting Simulation -- Additional review and problems Friday:
Chapter 13 review – Cut payroll checks as part of timecard exercise Accounting I
Mrs. Fugate March 6, 2000 Wrap-up Chapter 12, Introduce Chapter
13
Day 1 Objectives:
The students will be able to: 1.
Go over graded Chapter 12 tests and ask related questions 2.
Understand Chapter 13 Objectives 3.
Fill out a time card. Materials Needed:
Pens, pencils, overhead markers, chalk, chalkboard, eraser, overhead
projector, soft cloth, grade book, class roster, school schedule, daily
attendance card, seating chart, teachers' texts, Graded Chapter 12 Tests. Transparencies:
Parts 2 & 3 of test, Chapter 13 Objectives, blank time card, types of
compensation (blank) Handouts: Blank time card
Procedures: 1.
Welcome students and take attendance during morning announcements. (5
minutes) 2.
Hand back Chapter 12 tests, go over briefly, and ask for any questions.
Show transparency from parts 2 and 3 of test then highlight any problem
areas. (15 minutes) 3.
Chapter Introduction - "So far this year we have covered many
aspects of accounting for a sole proprietorship.
Starting with chapter 10 we began topics relating to accounting for a
merchandising business. Now we are
going to change gears a little and talk about something that I'm sure is very
important to many of you - Payroll. Chapter
13 covers Payroll records. (Show
Transparency as I review) After this chapter, you will be able to: ·
Define Accounting terms related to
payroll records ·
Identify accounting practices related
to payroll records ·
Complete a payroll time card ·
Calculate payroll taxes ·
Complete a payroll register and an
employee earnings record ·
Prepare payroll checks (10 minutes) There are
many different ways employers compensate their employees, can anybody give me
some of those options?" I will
have a blank transparency and write the examples down as they tell me them,
these may include - hourly wages, salaried, and commission base, etc.
"These are some great examples, for our purposes we are going to
concentrate on hourly wages. (5 minutes) 4.
“This week’s class project is dealing with payroll.
I have given all of you a time card.
We will be filling these out for every day of the week, and at the end of
the week, we will process the timecard for payroll.” Hand out blank time sheet
- "Here is a blank time sheet, be sure to bring these to class tomorrow.
This is a great start, please read Chapter 13, it's a short one and don't
forget to fill out your time card. See
you tomorrow! If there is any time left, they may begin reading chapter. (5
minutes) Evaluation: How
much time was allowed for in class work? Did
I plan too little or too much material? Was
anyone confused? What
would I do again? What wouldn’t I do next time?
Accounting I
Mrs. Fugate March 7, 2000 Chapter 13 Day 2
Objectives:
The students will be able to: 1.
Know terminology and understand concepts related to the payroll. 2.
Calculate employee hours worked 3.
Calculate employee total earnings Materials Needed:
Pens, pencils, overhead markers, chalk, chalkboard, eraser, overhead
projector, soft cloth, grade book, class roster, school schedule, seating chart,
teachers' texts, daily attendance card Transparencies: Blank time card,
completed time card with Overtime hours Handouts: Blank time card, completed
time card, homework - time card, math worksheet
Procedures: 1.
Welcome students and take attendance during morning announcements. (5
minutes) 2.
For a payroll system to be effective, there must be an accurate way of
recording the hours an employee works, and a time card is one of the most
frequently used methods. "Did
everyone remember their time cards today, we are going to begin today's class by
filling out a typical time card." (Show
transparency of blank time card) "Here
is an example of the same card I gave you yesterday, and we will begin by
filling it out. First of all,
most cards have the employee's name and employee number as well as the date the
pay period ends. Please fill in
your name; use the last 4 digits of your ID number and pay period ending Friday,
March 10. This card would then be
filled out on a daily basis, with time in, and time out, please put in your
"shift times" for yesterday and today. For example, school starts at
7:55 so that would be your time in, unless you were late or absent.
Morning time out is lunchtime, which occurs at 12:05.
Afternoon time in is 12:35, and time out is 3:10. I would like for you to
fill out this time sheet for your hours 'worked' at school, and at the end of
the week, you will turn it in to get a paycheck, we will be working with these
cards later this week so please don't lose them, besides if you don’t turn a
time card in you can’t get paid. (5 minutes) 3.
Now that we've reviewed how the cards are completed, now we can calculate
the number of hours an employee worked. Here is a completed time card; we need
to calculate the total hours worked. There
are four basic steps involved in calculating total hours worked. (I will have a
transparency of the completed time sheet, and have the class assist me in
calculating hours worked.) ·
Calculate the number of regular hours
per day, rounded to the nearest 1/4 hour. The
hours before and after a lunch break are calculated separately and then combined
and put in the Hours Reg. Column. We'll
do day one together. Could someone
figure total hours worked for the second day? That's a good start.
Please complete times for the 2-week pay period. ·
During the second week on the time
card, Andrew works more than 8 hours in one day, how should we treat this?
Right this time is referred to as overtime, can anyone tell me what is
considered overtime? (Overtime is normally any work done over the 8-hour workday
or the hours in excess of 40 in one week.) Calculate the number of Overtime
hours per day. These hours
are calculated using the same procedures as for Regular hours; these results are
placed in the Hours OT Column. Someone please tell me the total of the Overtime
worked by Andrew. ·
Total the Reg. hours worked and any
Overtime hours during the pay period, and transfer those figures to the Regular
and Overtime hour's total (located at the bottom of the time card.)
Does anyone have these figures handy? Then combine Regular hours and
Overtime hours worked for the combined Total Hours worked for Time period.
Could someone total this up for me? (Exercise should take approx. 20
minutes) ·
Good now that we have totaled the
number of hours Andrew worked; we need to calculate total earnings for him.
(Again will have transparency of time card and will be filling in during class.)
For today's exercise let’s assume that Andrew makes an hourly wage of
$10.00/hour, and his overtime pay is time and a half.
Can anyone tell me what Andrew makes for any over time worked?
($15.00/hour) ·
First of all we need to take the
Regular hours worked and multiply the rate, this is Andrew's regular earnings,
please put in amount across from Regular earnings.
·
Next we calculate the overtime
earnings, in the same manner as regular earnings, we take overtime hours worked
and multiply by the overtime rate and place the overtime earnings amount across
from overtime earnings. ·
Finally we add the two earnings amounts
together for Total earnings. (10 minutes) 4.
Okay, I see that we are about to run out of time, please complete the
questions 1-4, on page 307 of your textbook along with the time card that needs
to have total hours worked calculated and the math worksheet, please do part A
and B. I'm also available if you
have any questions. Evaluation: How
much time was allowed for in class work? Did
I plan too little or too much material? Was
anyone confused? What
would I do again? What wouldn’t I do next time?
Accounting I
Mrs. Fugate March 8, 2000 Chapter 13 Day 3
Objectives:
The students will be able to: 1.
Determine amount of employee's Federal income tax withholding 2.
Calculate Social Security tax deduction 3.
Calculate Medicare tax deduction 4.
Prepare a Payroll register 5.
Complete Employee Earnings Records 6.
Prepare payroll checks Materials Needed:
Pens, pencils, overhead markers, chalk, chalkboard, eraser, overhead
projector, soft cloth, ruler, grade book, class roster, school schedule, seating
chart, teachers' texts, daily attendance card Transparencies: Blank time card,
completed time card with Overtime hours, payroll register, employee earnings
record, general check w/ stub, payroll check w/ stub, withholdings table, Handouts: Blank time card, hints for Ch
13. copy of W-4, Andrew’s time card, homework - time card
Procedures: 1.
Welcome students and take attendance during morning announcements. (5
minutes) 2.
Everyone please take out your assignment from yesterday, Could someone
give me their answer to question number 2?
(3.5 hours is correct, and how did you get that answer?)
Would someone else tell me their answer to question number 4?
($440 is correct for total earnings)
On the Math worksheet, did anyone notice how Overtime was calculated
(hours in excess of 40 in one week)? Would
you please explain the difference? Please
pass those in to be checked off. Were
their any questions on the time card assignment?
What was the total number of hours worked? (81.50) Thank you; please pass
in the assigned questions, math work sheet and the timecard that was assigned.
(10 minutes) 3.
Please take out Andrew's time card from yesterday.
We calculated total earnings yesterday.
Is this the amount on the paycheck that Andrew receives on payday? No, it isn't. Can anyone tell me why? As many of us know, most employees pay taxes on their income
to the government. A business is
required to without certain taxes from an employee's salary. The taxes are based on employee earnings, so accurate
bookkeeping is essential for the business to avoid state or federal penalties.
There are three deductions an employer must withhold, Federal Income
taxes, Social Security taxes, and Medicare taxes.
Many states also require state taxes to be withheld, but because those
laws vary, we will only concentrate on the federal deductions. ·
Federal Income tax withheld is
determined by information found on a W-4 form (have transparency.) On this form an employee can select the number of withholding
allowances. These allowances can
reduce the amount of taxes withheld. Marital
status as well as number of dependents can determine number of allowances.
In our example Andrew is married, but prefers to have his taxes withheld
at the higher single rate, and has 1 dependent, for a total of 1 withholding
allowance. ·
In order to determine the amount of
Federal Income tax withheld, we need to turn to pages 310 and 311 of our
textbook and look at the withholding charts. (I will have copies of both in
transparency form.) The first thing we need to do is select the appropriate
table, can anyone tell me which table to use?
(Right the single table, good job!)
Next we take the total earnings that we figured off of the time card and
find the correct lines, and finally we use the number of withholding allowances
claimed, in this case 1, okay can someone give me that figure?
Good, that's correct. Now
we'll record this figure. Because
he chooses to have the higher single withholding, we record Andrew as single on
our chart. ·
At this point, I would review how to
mulitply by percentages. Go over
Math worksheet. ·
The next two deductions are a little
easier to calculate; the Social Security tax is calculated on employee earnings
up to a maximum amount paid in a calendar year.
This maximum amount is set by Congress and is called a tax base,
according to the textbook the base is presently set at 6.5% of employee earnings
up to a maximum of $65,400 per calendar year.
So we multiply this periods total earnings by 6.5% and that is the amount
of social security tax that is withheld from Andrew's earnings.
We'll record it on this form for future use.
·
Medicare tax is calculated on total
employee earnings, and the rate is presently 1.5%.
Would someone like to give me the Medicare tax deducted from Andrew's
earnings? Correct, again we'll write this down for future use. (10 minutes) ·
Now we're going to take the information
we've calculated for Andrew and transfer it to the Payroll register.
The payroll register is a form used by businesses to summarize the
payroll information for a pay period. (Have
transparency of payroll register-- Andrew's information will be left blank and
filled in with class participation.) ·
This register contains a great deal of
information. (On overhead, I will point out each point as I describe and begin
to fill in Andrew's data.) - Pay date period, employee personal data, earnings
section, Federal Income tax, social security tax, Medicare tax, health
insurance, and other deductions, total deductions, net pay, and then check
number and payment date. The
payroll register must be proved, then approved by a partner, and then the
payroll checks are written. To prove the payroll register total all columns,
then subtract total deductions from total earnings and that amount should equal
NET Pay. (5 minutes) ·
The information off of the time card as
well as the information in the payroll register is used to fill out the employee
earnings records. Employee earnings
records summarize an employee's earnings information for a quarter, which then
must be forwarded to both federal and state governments. Here is Andrew's employee earnings record for this quarter;
we will need to add this pay period's information. (Have transparency of
partially completed form, will transfer information from payroll register.)
·
At the end of each quarter, each record
must be totaled and proved for each employee.
To prove the information, calculate quarterly totals for each amount
column, and then subtract total deductions from total earnings.
This figure should be the same as the Net Pay figure.
·
A new form is filled out every quarter,
yet total earnings (not net pay) are accumulated and carried over
(point out figure) (5 minutes) ·
We are now going to prepare payroll
checks. How many of you have a
checking account? Writing a payroll
check is similar to writing a personal check.
The difference is that many businesses use a special payroll checking
account. So the check we actually
write isn't made out to an individual but is made out to the payroll account for
the total amount of payroll for the pay period. (Show transparency of check) ·
First we would need to fill out the
check stub, entering the date, total amount of the payroll, which is found in
the TOTAL of the Net Pay column of the payroll register.
The check is payable to the payroll account. We should calculate the new balance carried forward of the
general checking account. ·
Secondly
we take the information from the check stub, and fill out the check. ·
Now we are going to prepare the
employee's payroll check, we will fill out Andrew's check. (Second transparency) Again, we fill out the check stub
first, this stub contains more detail than the first, and the information can be
found in the payroll register. ·
In this example, this company writes
the payroll checks out of a special payroll account, some businesses use
software programs to cut checks. Still
other s have another company cut the payroll checks, and the check we would be
writing from our general account would be made out to that check writing
business. Discuss EFT (15 minutes) ·
For tomorrow, please have these time
cards calculated (I will give each student 2 time cards for different employees)
we will be using them for the automated simulation. Also please begin Chapter 13 summary - 13-2, and 13-4
for Friday. Tomorrow please report
to the lab, and I will take attendance there. Evaluation: How
much time was allowed for in class work? Did
I plan too little or too much material? Was
anyone confused? What
would I do again? What wouldn’t I do next time?
Accounting I
Mrs. Fugate March 9, 2000 Chapter 13 Day 4
Objectives:
The students will be able to:
1.
Better apply payroll practices to real life situations
Materials Needed:
Pens, pencils, dry erase markers, whiteboard, eraser, soft cloth, grade
book, class roster, school schedule, seating chart for lab, teachers' texts,
simulation disks and booklet. Working
PC's for each student, graded assignments Transparencies: Handouts: Chapter 13 review packet,
simulation assignment
Procedures: 1.
Welcome students and take attendance during morning announcements. (5 minutes) 2.
Pass back graded assignments, and time cards.
Has everyone been filling out there time cards?
I hope so, you need to have them filled out and ready to be turned in
tomorrow in order to get paid. (5 minutes) 3.
Pass out review packet for Chapter 13.
Please take a look at this packet we will be working on it in class
tomorrow and it will be handed in for grading. 4. Pass out
simulation handbooks, and papers. Begin simulation ·
I hope that you have the time cards for
today completed; we will be using them for the simulation. I will be walking around to verify your totals.
To begin todays exercise please open Automated Accounting.
·
Please follow the directions in the
packet I handed out, I will be collecting the printouts at the end of the hour. I will be wandering the room and
available for questions. The
simulation may take some of the students the entire hour and I will give them
the entire time, but for those who finish early they can begin work on the
Chapter review. With about 5 minutes remaining in the
class period, I will let them know that time is running out; have them finish up
what they are doing. Please bring me the printouts; tomorrow
we will be back in the normal classroom. Don't
forget your timecards, and Chapter 13 review packets. Evaluation: How
much time was allowed for in class work? Did
I plan too little or too much material? Was
anyone confused? What
would I do again? What wouldn’t I do next time?
Accounting I
Mrs. Fugate March 10, 2000 Chapter 13 Day 5
Objectives:
The students will be able to:
1.
Demonstrate the understanding of the concepts of Chapter 13. Materials Needed:
Pens, pencils, dry erase markers, whiteboard, eraser, soft cloth, grade
book, class roster, daily attendance sheet, school schedule, seating chart,
teachers' texts, graded simulation assignments Transparencies: Handouts: Chapter 13 review packet and
information sheet Procedures: 1.
Welcome students and take attendance during morning announcements. (5 minutes) 1.
Pass back graded simulations.
Has everyone been filling out his or her time cards?
I hope so, you need to have them filled out and turn them in today. Okay,
you should have the first part of the review; the second part consists of going
and working with the partner I assign you.
Then trade time cards, and begin processing payroll. I
have a sheet that will have some necessary information, such as hourly wage, and
withholding status. Please
calculate total hours, then total earnings, and net deductions as well as net
pay. Then please transfer the information to the payroll register,
to prove the payroll register, please put both students’ information into the
register and prove, next transfer information to the employee earnings record,
and then write the payroll check. The
time card exercise is part of the Chapter 13 review, and the entire review is
due at the end of the hour, please come up and find out whom your partner is.
This will counted as the Chapter 13 “test.” Evaluation: How
much time was allowed for in class work? Did
I plan too little or too much material? Was
anyone confused? What
would I do again? What wouldn’t I do next time?
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