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CHAPTER 8
PAYROLL ACCOUNTING: EMPLOYEE EARNINGS AND DEDUCTIONS
REVIEW QUESTIONS
1. It is important for payroll accounting purposes to distinguish between an employee and an

independent contractor because government laws and regulations regarding payroll are much more
complex for employees than for independent contractors.
2. Three major categories of deductions from an employee’s gross pay are federal (and possibly state
and city) income tax withholding, employee’s FICA (Social Security and Medicare) tax withholding,
and voluntary deductions.
3. The four factors that determine the amount of federal income tax that is withheld from an
employee’s pay each pay period are total earnings, marital status, number of withholding
allowances claimed, and length of the pay period.
4. In general, each employee is entitled to one personal withholding allowance, one for a spouse who
does not also claim an allowance, and one for each dependent.
5. The three payroll records usually needed by an employer are the payroll register, the payroll check
(or record of EFT) with earnings statement attached, and the employee earnings record.
6. The payroll register contains detailed information on earnings, taxable earnings, deductions, and net
pay for each employee.
7. It is important to total and verify the totals of the payroll register after the data for each employee
have been entered because an error in the payroll register could cause the payment of an incorrect
amount to an employee. It also could result in sending an incorrect amount to the government or
other agencies for whom funds are withheld.
8. The payroll register provides a summary of the earnings of all employees for each pay period. The
earnings record provides a summary of the annual earnings of an individual employee.
9. By deducting amounts from an employee’s earnings, the employer is simply serving as an agent for
the government and other groups. Amounts that are deducted from an employee’s gross earnings
must be paid by the employer to these groups.
10. Payroll processing centers and electronic systems are commonly used in payroll accounting
because they make payroll accounting more efficient and accurate.
291
© 2014 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
292 CHAPTER 8
Exercise 8-1A
a. 40 regular hours × $10 per hour $400.00

b. 6 overtime hours × $15 per hour 90.00
c. Total gross wages $490.00
d. Federal income tax withholding
(from tax tables in Figure 8-4) $ 5.00
e. Social Security withholding at 6.2% 30.38
f. Medicare withholding at 1.45% 7.11
g. Total withholding 43.49
h. Net pay $447.51
Exercise 8-2A
Regular hours 40 hours × $15 = $600
Time-and-a-half overtime 2 hours × $22.50 = 45
Double-time overtime 5 hours × $30 = 150
Gross pay $795
Exercise 8-3A
a. $2,600 × 12 = $31,200 annual pay
$31,200/52 = $600 pay per week
$600/40 = $15 regular pay per hour
$15 × 1.5 = $22.50 overtime pay per hour
b. Regular pay 40 hours × $15 = $600.00
Overtime pay 5 hours × $22.50 = 112.50
Gross pay $712.50
Exercise 8-4A
Total Weekly Number of Amount of
Marital Status Earnings Allowances Withholding
a. S $347.60 2 $16
b. S 451.50 1 43
c. M 481.15 3 11
d. S 490.52 0 60
e. M 691.89 5 17
CHAPTER 8 293
Exercise 8-5A
Cumul. Pay Current Year-to- Amount Amount Soc. Sec. Medicare

Before Current Gross Date Soc. Sec. Over Max. Subject to Tax Tax
Weekly Payroll Pay Earnings Maximum Soc. Sec. Soc. Sec. Withheld Withheld
$ 22,000 $1,700 $ 23,700 $110,100 none $1,700 $105.40 $24.65

54,000 4,200 58,200 110,100 none 4,200 260.40 60.90
107,500 3,925 111,425 110,100 $1,325 2,600 161.20 56.91
109,500 4,600 114,100 110,100 4,000 600 37.20 66.70
Exercise 8-6A
Social Security tax: Medicare tax:

$8,000 × 0.062 = $496 $8,700 × 0.0145 = $126.15
GENERAL JOURNAL PAGE
POST.
DATE DESCRIPTION DEBIT CREDIT
REF.
20--
1 Dec. 31 Wages and Salaries Expense 8 7 0 0 00 1
2 Employee Federal Income Tax Payable 9 2 0 00 2
3 Social Security Tax Payable 4 9 6 00 3
4 Medicare Tax Payable 1 2 6 15 4
5 United Way Contributions Payable 2 0 0 00 5
6 Cash 6 9 5 7 85 6
7 Payroll for week ended December 31 7
8 8
9 9
Exercise 8-7A
POST.
REF.
20--
1 Apr. 15 Wages and Salaries Expense 6 5 0 5 00 1
4 Medicare Tax Payable 9 4 32 4
5 Pension Plan Payable 8 0 00 5
6 Health Insurance Premiums Payable 2 7 0 00 6
8 Cash 4 9 3 2 37 8
9 Payroll for week ended April 15 9
294 CHAPTER 8
Problem 8-8A
1.
Regular pay (40 × $8.50) $340.00
Overtime pay (8 × $12.75) 102.00
Gross pay $442.00
Deductions:
Employee federal income tax $ 7.00
Social Security tax ($442 × 0.062) 27.40
Medicare tax ($442 × 0.0145) 6.41
Health insurance premium 85.00
Credit union 125.00
United Way contribution 10.00
Total deductions 260.81
Net pay $181.19
2.
POST.
REF.
20--
1 Jan. 31 Wages and Salaries Expense 4 4 2 00 1
2 Employee Federal Income Tax Payable 7 00 2
3 Social Security Tax Payable 2 7 40 3
4 Medicare Tax Payable 6 41 4
5 Health Insurance Premiums Payable 8 5 00 5
6 Credit Union Payable 1 2 5 00 6
7 United Way Contributions Payable 1 0 00 7
8 Cash 1 8 1 19 8
9 Payroll for week ended January 31 9
10 10
11 11
12 12
13 13
14 14
15 15
CHAPTER 8 295
Problem 8-9A
1. The Payroll Register can be found on pages 296–297.
2.
POST.
REF.
20--
1 Mar. 24 Wages and Salaries Expense 2 3 4 9 00 1
5 City Tax Payable 2 3 49 5
7 Credit Union Payable 4 0 00 7
8 U.S. Savings Bonds Payable 5 7 50 8
9 Cash 1 8 9 1 31 9
10 Payroll for week ended March 22 10
11 11
12 12
13 13
14 14
296 CHAPTER 8
Problem 8-9A (Continued)

1.
PAYROLL REGISTER
EARNINGS TAXABLE EARNINGS
NO. MARIT. CUMULATIVE UNEMPLOY. SOCIAL

NAME ALLOW. STATUS REGULAR OVERTIME TOTAL TOTAL COMP. SECURITY
1 Bacon, Andrea 4 M 480 00 90 00 570 00 6,050 00 570 00 570 00

2 Cole, Andrew 1 S 480 00 480 00 6,240 00 480 00 480 00
3 Hicks, Melvin 3 M 420 00 63 00 483 00 5,443 00 483 00 483 00
4 Leung, Cara 1 S 396 00 396 00 5,521 50 396 00 396 00
5 Melling, Melissa 2 M 420 00 420 00 5,140 50 420 00 420 00
6 2,196 00 153 00 2,349 00 28,395 00 2,349 00 2,349 00
10
11
12
13
14
CHAPTER 8 297
Problem 8-9A (Concluded)
FOR PERIOD ENDED March 22 20--
DEDUCTIONS
FEDERAL SOCIAL
INCOME SECURITY MEDICARE HEALTH
TAX TAX TAX CITY TAX INSUR. OTHER TOTAL NET PAY CK. NO.
13 00 35 34 8 27 5 70 15 00 Credit Union 20 00 97 31 472 69 423 1
47 00 29 76 6 96 4 80 5 00 Bonds 38 75 132 27 347 73 424 2
11 00 29 95 7 00 4 83 5 00 Bonds 18 75 76 53 406 47 425 3
34 00 24 55 5 74 3 96 15 00 Credit Union 20 00 103 25 292 75 426 4
12 00 26 04 6 09 4 20 48 33 371 67 427 5
117 00 145 64 34 06 23 49 40 00 97 50 457 69 1,891 31 6
10
11
12
13
14
298 CHAPTER 8
Problem 8-10A
EMPLOYEE EARNINGS RECORD
EARNINGS TAXABLE EARNINGS DEDUCTIONS

20 -- FEDERAL SOCIAL
PERIOD CUMULATIVE UNEMPLOY. SOCIAL INCOME SECURITY
ENDED REGULAR OVERTIME TOTAL TOTAL COMP. SECURITY TAX TAX
3/8
3/15
3/22 480 00 480 00 6,240 00 480 00 480 00 47 00 29 76
3/29
MARITAL ALLOW-
GENDER DEPARTMENT OCCUPATION SOCIAL SECURITY NO. STATUS ANCES
M F Ticket Sales Manager 544-67-1283 S 1
CHAPTER 8 299
Problem 8-10A (Concluded)
FOR PERIOD ENDED March 22 20--
DEDUCTIONS
MEDICARE CITY HEALTH CK.

TAX TAX INSURANCE OTHER TOTAL NO. AMOUNT
6 96 4 80 5 00 Savings Bond 38 75 132 27 424 347 73
DATE OF DATE EMP.

PAY RATE BIRTH HIRED NAME/ADDRESS NO.
$12.00 5/8/86 6/1/-- Andrew Cole 62

28 Quarry Drive
Vernon, CT 06066
300 CHAPTER 8
Exercise 8-1B
a. 40 regular hours × $12 per hour $480.00

b. 5½ overtime hours × $18 per hour 99.00
c. Total gross wages $579.00
d. Federal income tax withholding
(from tax tables in Figure 8-4) $ 5.00
e. Social Security withholding at 6.2% 35.90
f. Medicare withholding at 1.45% 8.40
g. Total withholding 49.30
h. Net pay $529.70
Exercise 8-2B
Regular hours 40 hours × $12 = $480
Time-and-a-half overtime 3 hours × $18 = 54
Double-time overtime 6 hours × $24 = 144
Gross pay $678
Exercise 8-3B
a. $3,250 × 12 = $39,000 annual pay
$39,000/52 = $750 pay per week
$750/40 = $18.75 regular pay per hour
$18.75 × 1.5 = $28.125 overtime pay per hour
b. Regular pay 40 hours × $18.75 = $750.00
Overtime pay 6 hours × $28.125 = 168.75
Gross pay $918.75
Exercise 8-4B
Total Weekly Number of Amount of
Marital Status Earnings Allowances Withholding
a. M $546.00 4 $10
b. M 390.00 3 2
c. S 461.39 2 33
d. M 522.88 2 22
e. S 612.00 0 78
CHAPTER 8 301
Exercise 8-5B
Cumul. Pay Current Year-to- Amount Amount Soc. Sec. Medicare

Before Current Gross Date Soc. Sec. Over Max. Subject to Tax Tax
Weekly Payroll Pay Earnings Maximum Soc. Sec. Soc. Sec. Withheld Withheld
$ 31,000 $1,500 $ 32,500 $110,100 none $1,500 $ 93.00 $21.75

53,000 2,860 55,860 110,100 none 2,860 177.32 41.47
107,200 3,140 110,340 110,100 $ 240 2,900 179.80 45.53
109,500 2,920 112,420 110,100 2,320 600 37.20 42.34
Exercise 8-6B
Social Security tax: Medicare tax:
$9,400 × 0.062 = $582.80 $9,400 × 0.0145 = $136.30
POST.
REF.
20--
1 Nov. 30 Wages and Salaries Expense 9 4 0 0 00 1
6 Cash 7 4 9 5 90 6
7 Payroll for week ended November 30 7
8 8
9 9
10 10
11 11
12 12
13 13
14 14
15 15
16 16
17 17
18 18
19 19
20 20
21 21
22 22
302 CHAPTER 8
Exercise 8-7B
POST.
REF.
20--
1 June 12 Wages and Salaries Expense 7 4 7 0 00 1
5 Pension Plan Payable 8 0 00 5
8 Cash 5 6 9 6 54 8
9 Payroll for week ended June 12 9
10 10
11 11
12 12
13 13
Problem 8-8B
1.
Regular pay (40 × $9) $360.00
Overtime pay (6 × $13.50) 81.00
Gross pay $441.00
Deductions:
Employee federal income tax $ 14.00
Social Security tax ($441 × 0.062) 27.34
Medicare tax ($441 × 0.0145) 6.39
Health insurance premium 92.00
Credit union 110.00
United Way contributions 5.00
Total deductions 254.73
Net pay $186.27
CHAPTER 8 303
Problem 8-8B (Concluded)

2.
POST.
REF.
20--
1 Jan. 31 Wages and Salaries Expense 4 4 1 00 1
2 Employee Federal Income Tax Payable 1 4 00 2
3 Social Security Tax Payable 2 7 34 3
4 Medicare Tax Payable 6 39 4
6 Credit Union Payable 1 1 0 00 6
7 United Way Contributions Payable 5 00 7
8 Cash 1 8 6 27 8
9 Payroll for week ended January 31 9
10 10
11 11
12 12
13 13
14 14
15 15
16 16
17 17
18 18
19 19
20 20
21 21
22 22
23 23
24 24
25 25
26 26
27 27
28 28
29 29
30 30
31 31
32 32
33 33
34 34
35 35
304 CHAPTER 8
Problem 8-9B
1.
PAYROLL REGISTER

1 Barone, W. 1 S 400 00 400 00 2,800 00 400 00 400 00

2 Hastings, G. 4 M 480 00 90 00 570 00 3,930 00 570 00 570 00
3 Nitobe, I. 3 M 350 00 78 75 428 75 3,363 75 428 75 428 75
4 Smith, J. 4 M 440 00 33 00 473 00 3,218 00 473 00 473 00
5 Tarshis, D. 1 S 409 50 409 50 3,060 25 409 50 409 50
6 2,079 50 201 75 2,281 25 16,372 00 2,281 25 2,281 25
10
11
12
13
14
CHAPTER 8 305
FOR PERIOD ENDED February 15 20--
DEDUCTIONS
FEDERAL SOCIAL
INCOME SECURITY MEDICARE HEALTH
TAX TAX TAX CITY TAX INSUR. OTHER TOTAL NET PAY CK. NO.
35 00 24 80 5 80 4 00 69 60 330 40 365 1
13 00 35 34 8 27 5 70 35 00 Bonds 18 75 116 06 453 94 366 2
5 00 26 58 6 22 4 29 15 00 Credit Union 25 00 82 09 346 66 367 3
3 00 29 33 6 86 4 73 35 00 Bonds 43 75 122 67 350 33 368 4
35 00 25 39 5 94 4 10 15 00 Credit Union 25 00 110 43 299 07 369 5
91 00 141 44 33 09 22 82 100 00 112 50 500 85 1,780 40 6
10
11
12
13
14
2.
POST.
REF.
20--
1 Feb. 17 Wages and Salaries Expense 2 2 8 1 25 1
2 Employee Federal Income Tax Payable 9 1 00 2
5 City Tax Payable 2 2 82 5
7 Credit Union Payable 5 0 00 7
8 U.S. Savings Bonds Payable 6 2 50 8
9 Cash 1 7 8 0 40 9
10 Payroll for week ended February 15 10
11 11
12 12
13 13
306 CHAPTER 8
Problem 8-10B
EARNINGS TAXABLE EARNINGS DEDUCTIONS

20 -- FEDERAL SOCIAL
PERIOD CUMULATIVE UNEMPLOY. SOCIAL INCOME SECURITY
ENDED REGULAR OVERTIME TOTAL TOTAL COMP. SECURITY TAX TAX
2/8
2/15 400 00 400 00 2,800 00 400 00 400 00 35 00 24 80
2/22
MARITAL ALLOW-
GENDER DEPARTMENT OCCUPATION SOCIAL SECURITY NO. STATUS ANCES
M F Desserts Baker 342-73-4681 S 1
CHAPTER 8 307
FOR PERIOD ENDED February 15 20--
DEDUCTIONS
MEDICARE CITY HEALTH CK.

TAX TAX INSURANCE OTHER TOTAL NO. AMOUNT
5 80 4 00 69 60 365 330 40
DATE OF DATE EMP.

PAY RATE BIRTH HIRED NAME/ADDRESS NO.
$10.00 8/26/79 10/1/-- William Barone 19

30 Timber Lane
Willington, CT 06279
MANAGING YOUR WRITING
For: Respect for human dignity demands that the minimum wage be raised. The current minimum
wage hardly enables a worker to live above the poverty level. In addition, as the cost of living increases,
the minimum wage must be increased just to help workers stay at their current inadequate level.
Against: If the minimum wage is increased too much, jobs will be lost because businesses will be
able to afford fewer employees, or will move to areas with lower labor costs. The net effect of this will be
to help those who still have jobs but worsen the situation for the workers overall. In addition, higher labor
costs will cause businesses to increase prices. This will make it more costly to live, so that the net benefit
of the increased minimum wage is unclear.
ETHICS CASE: SUGGESTED SOLUTIONS
1. No. Simon agreed to have these amounts withheld from his pay by accepting employment at N & L
and completing the payroll paperwork. Also, Simon might be trying to take advantage of a new
employee.
2. Current liabilities would be understated.
3. Answers will vary. Students not aware of the employer’s payroll tax, which is introduced in the next
chapter, might recognize that cash will be lower than it should be and current liabilities will not reflect
proper withholding amounts.
4. Answers will vary. Students should recognize that Simon was wrong to ask Maura not to withhold
taxes and Maura would be wrong to honor his request. Also, they might suggest that Maura report
the incident to her supervisor for direction.
308 CHAPTER 8
Mastery Problem
1.
PAYROLL REGISTER

1 Berling, J. 3 M 480 00 168 00 648 00 25,173 00 648 00

2 Merz, L. 4 M 600 00 45 00 645 00 31,125 00 645 00
3 Goetz, K. 2 M 440 00 440 00 21,940 00 440 00
4 Menick, J. 2 S 275 00 352 00 627 00 23,252 00 627 00
5 Morales, E. 3 M 494 00 494 00 25,224 00 494 00
6 Heimbrock, J. 5 M 1,360 00 1,360 00 110,500 00 960 00
7 Townsley, S. 2 M 252 00 72 00 324 00 21,749 00 324 00
8 Salzman, B. 2 M 374 00 176 00 550 00 7,185 00 365 00 550 00
9 Layton, E. 3 M 440 00 440 00 6,075 00 440 00 440 00
10 Thompson, D. 5 M 440 00 93 50 533 50 22,168 50 533 50
11 Vadillo, C. 2 S 481 00 208 00 689 00 24,804 00 689 00
12 5,636 00 1,114 50 6,750 50 319,195 50 805 00 6,350 50
13
14
3.

FEDERAL
20 -- CUMULATIVE UNEMPLOY. SOCIAL INCOME
PERIOD ENDED REGULAR OVERTIME TOTAL TOTAL COMP. SECURITY TAX
11/4 330 00 33 00 363 00 6,145 50 363 00 363 00 6 00
11/11 440 00 49 50 489 50 6,635 00 489 50 489 50 18 00
11/18 374 00 176 00 550 00 7,185 00 365 00 550 00 25 00
11/25
MARITAL
GENDER DEPARTMENT OCCUPATION SOCIAL SECURITY NO. STATUS
M F Administration Office Assistant 446-46-6321 M
CHAPTER 8 309
Mastery Problem (Continued)
FOR PERIOD ENDED November 18 20--
DEDUCTIONS
FEDERAL SOCIAL
INCOME SECURITY MEDICARE STATE HEALTH CREDIT
TAX TAX TAX INCOME TAX INSURANCE UNION TOTAL NET PAY CK. NO.
27 00 40 18 9 40 22 68 5 00 149 60 253 86 394 14 331 1
20 00 39 99 9 35 22 58 5 00 117 00 213 92 431 08 332 2
14 00 27 28 6 38 15 40 5 00 91 30 159 36 280 64 333 3
57 00 38 87 9 09 21 95 5 00 126 50 258 41 368 59 334 4
12 00 30 63 7 16 17 29 5 00 117 05 189 13 304 87 335 5
110 00 59 52 19 72 47 60 5 00 154 25 396 09 963 91 336 6
2 00 20 09 4 70 11 34 5 00 83 05 126 18 197 82 337 7
25 00 34 10 7 98 19 25 5 00 130 00 221 33 328 67 338 8
7 00 27 28 6 38 15 40 5 00 88 00 149 06 290 94 339 9
1 00 33 08 7 74 18 67 5 00 128 90 194 37 339 11 340 10
66 00 42 72 9 99 24 12 5 00 139 11 286 94 402 06 341 11
341 00 393 74 97 89 236 28 55 00 1,324 76 2,448 67 4,301 83 12
13
14
FOR PERIOD ENDED 20--
DEDUCTIONS NET PAY

STATE
SOCIAL MEDICARE INCOME HEALTH CK.
SECURITY TAX TAX TAX INSURANCE CREDIT UNION TOTAL NO. AMOUNT
22 51 5 26 12 71 72 60 119 08 121 243 92
30 35 7 10 17 13 97 90 170 48 229 319 02
34 10 7 98 19 25 5 00 130 00 221 33 338 328 67
DATE OF DATE EMP.

ALLOWANCES PAY RATE BIRTH HIRED NAME/ADDRESS NO.
2 $11.00 4/5/84 7/22/-- Beth F. Salzman 8
12 Windmill Lane
Trumbull, CT 06611
310 CHAPTER 8
Mastery Problem (Concluded)

2.
POST.
REF.
20--
1 Nov. 21 Wages and Salaries Expense 6 7 5 0 50 1
5 State Income Tax Payable 2 3 6 28 5
7 Credit Union Payable 1 3 2 4 76 7
8 Cash 4 3 0 1 83 8
9 Payroll for week ended November 18 9
10 10
11 11
12 12
13 13
14 14
15 15
16 16
17 17
18 18
19 19
20 20
21 21
22 22
23 23
24 24
25 25
26 26
27 27
28 28
29 29
30 30
31 31
32 32
33 33
34 34
35 35
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PAYROLL ACCOUNTING: EMPLOYEE EARNINGS AND DEDUCTIONS

1. It is important for payroll accounting purposes to distinguish between an employee and an

a. 40 regular hours × $10 per hour $400.00

Cumul. Pay Current Year-to- Amount Amount Soc. Sec. Medicare

$ 22,000 $1,700 $ 23,700 $110,100 none $1,700 $105.40 $24.65

Social Security tax: Medicare tax:

2 Employee Federal Income Tax Payable 9 2 0 00 2

3 Social Security Tax Payable 4 9 6 00 3

4 Medicare Tax Payable 1 2 6 15 4

5 United Way Contributions Payable 2 0 0 00 5

7 Payroll for week ended December 31 7

2 Employee Federal Income Tax Payable 6 2 5 00 2

3 Social Security Tax Payable 4 0 3 31 3

4 Medicare Tax Payable 9 4 32 4

5 Pension Plan Payable 8 0 00 5

6 Health Insurance Premiums Payable 2 7 0 00 6

7 United Way Contributions Payable 1 0 0 00 7

9 Payroll for week ended April 15 9

2 Employee Federal Income Tax Payable 7 00 2

3 Social Security Tax Payable 2 7 40 3

4 Medicare Tax Payable 6 41 4

5 Health Insurance Premiums Payable 8 5 00 5

6 Credit Union Payable 1 2 5 00 6

7 United Way Contributions Payable 1 0 00 7

9 Payroll for week ended January 31 9

2 Employee Federal Income Tax Payable 1 1 7 00 2

3 Social Security Tax Payable 1 4 5 64 3

4 Medicare Tax Payable 3 4 06 4

5 City Tax Payable 2 3 49 5

6 Health Insurance Premiums Payable 4 0 00 6

7 Credit Union Payable 4 0 00 7

8 U.S. Savings Bonds Payable 5 7 50 8

10 Payroll for week ended March 22 10

Problem 8-9A (Continued)

EARNINGS TAXABLE EARNINGS

NO. MARIT. CUMULATIVE UNEMPLOY. SOCIAL

1 Bacon, Andrea 4 M 480 00 90 00 570 00 6,050 00 570 00 570 00

Problem 8-9A (Concluded)

FOR PERIOD ENDED March 22 20--

13 00 35 34 8 27 5 70 15 00 Credit Union 20 00 97 31 472 69 423 1

47 00 29 76 6 96 4 80 5 00 Bonds 38 75 132 27 347 73 424 2

11 00 29 95 7 00 4 83 5 00 Bonds 18 75 76 53 406 47 425 3

34 00 24 55 5 74 3 96 15 00 Credit Union 20 00 103 25 292 75 426 4

117 00 145 64 34 06 23 49 40 00 97 50 457 69 1,891 31 6

EMPLOYEE EARNINGS RECORD

EARNINGS TAXABLE EARNINGS DEDUCTIONS

Problem 8-10A (Concluded)

FOR PERIOD ENDED March 22 20--

MEDICARE CITY HEALTH CK.

6 96 4 80 5 00 Savings Bond 38 75 132 27 424 347 73