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Selected information from the payroll register of Raynette's Boutique for the week ended September 14, 20--, is as follows. Social

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Selected information from the payroll register of Raynette's Boutique for the week ended September 14, 20--, is as follows. Social Security tax is 6.2% on the first $106,800 of earnings for each employee. Medicare tax is 1.45% of gross earnings. FUTA tax is 0.8% and SUTA tax is 5.4% on the first $7,000 of earnings.


Taxable Earnings Cumulative Pay Before Current Unemployment Social Current Gross Pay Compensation Security $1,250 1,100


Calculate the amount of taxable earnings for unemployment, Social Security, and Medicare taxes, and prepare the journal entry to record the employer's payroll taxes as of September 14,20--.

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Taxable Earnings Cumulative Pay Before Current Unemployment Social Current Gross Pay Compensation Security $1,250 1,100 2,320 2,270 1,900 2,680 Employce Name Burgos, Juan Ellis, Judy A. Earnings S 6,800 6,300 54,200 53,900 27,650 104,930 Lewis, Arlene S. Mason, Jason W. Yates, Ruby L. Zielke, Ronald M.

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Question Details
Chapter # 9
Section: EXERCISES SERIES A
Problem: 3
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Question Posted: December 20, 2011 10:25:03
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