Chapter 3 Acct

Please carefully review the following; it does make a difference if you round. Setting a display to 2 is not rounding. Taxable Wages OASDI Calculated using formula & not fx round 133.000 8.25 412.000 25.54 523.000 32.43 689.000 42.72 108.93 Check carefully above; the OASDI does not really add up to 108.93 Check 8.250 inputting the 25.540 OASDI tax 32.430 from above 42.720 108.940 It really adds up to 108.94 What happen? The formulas used to calculate OASDI were correct. I am just changing the DISPLAY to 3 below Taxable Wages OASDI 133.000 8.246 412.000 25.544 523.000 32.426 689.000 42.718 108.934 Excel was adding using the actual calculated numbers in the cell which when summed totals 108.934 displayed at a setting of 2 at 108.93 The above penny would cause major problems for the payroll register, journal entries and subsequent reports of the 941 and W-2. Review on how to use fx round This is easy. The next line is an example of calculating OASDI at .062 for $133 in wages. $ 133.00 8.250 You do the same thing I did in C32 in C34 following the directions below $ 133.00 Step 1 Step 2

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click on C34 where you want the answer (DO NOT HIT THE =) click on fx which is found on the top menu left side or probably above the column B or C column indicators The Insert Function Box will be displayed If you don't see "ROUND" in the select a function box; use select a category and select "Math & Double Click on ROUND which brings up the Function Arguments Box If the box is over Row 34; click anywhere on the Box, left mouse click to move the box from on top of Row 34 Click in the Number box Click on cell A34 where you have the 133 A34 will display in the Number box Input

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Input .062 Click in the Num_digits box and input 2 ok

Common reasons fx round may not work: you input = to start your formula: DO NOT input =, Excel knows you are doing a calculation due to the function box Excel automatically inputs...