ACCT 130 - Payroll Accounting

5 Total Credits
This class covers the collection and recording of payroll data, such as wages, overtime, leave, salary calculations, and payroll taxes such as Social Security (OASDI and HI), Federal Unemployment (FUTA) and State Unemployment (SUTA).

Prerequisite(s): Completion of ACCT& 201 with a 2.0 or higher.

Course Outcomes

Define the Fair Labor Standards Act.
Use Circular E.
Complete various forms for new employees.
Distinguish between salaries and wages.
Calculate incentives, commissions, and bonuses.
Calculate federal income tax withholding.
Record employee payroll journal entries.
Calculate self-employment tax.
Complete quarterly and year-end payroll forms
Complete a year-long payroll project.