1. PR.09.08A 2. EX.09.03B.BLANKSHEET.A... Instructions Selected information from the payroll register of Howard's Cutlery for the...

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1. PR.09.08A 2. EX.09.03B.BLANKSHEET.A... Instructions Selected information from the payroll register of Howard's Cutlery for the week ended October 7, 20--, is presented. Social Security tax is 6.2% on the first $128,400 of earnings for each employee. Medicare tax is 1.45% on gross earnings. FUTA tax is 0.6% and SUTA tax is 5.4% on the first $7,000 of earnings. 1 2 3 Carlson, David J. < 4 Delgado, Luisa 5 Lewis, Arlene S. 6 Nixon, Robert R. 7 Shippe, Lance W. 8 Watts, Brandon Q. Taxable Earnings Employee Name Cumulative Pay Before Current Earnings $6,620.00 Current Gross Pay Unemployment Compensation Social Security $960.00 6,160.00 1,220.00 54,360.00 2,440.00 53,870.00 1,720.00 24,840.00 1,480.00 126,000.00 3,120.00 Required: 1. Calculate the amount of taxable earnings for unemployment, Social Security, and Medicare taxes. 2. Prepare the journal entry to record the employer's payroll taxes as of October 7, 20--. 1. PR.09.08A 2. EX.09.03B.BLANKSHEET.A... Instructions Selected information from the payroll register of Howard's Cutlery for the week ended October 7, 20--, is presented. Social Security tax is 6.2% on the first $128,400 of earnings for each employee. Medicare tax is 1.45% on gross earnings. FUTA tax is 0.6% and SUTA tax is 5.4% on the first $7,000 of earnings. 1 2 3 Carlson, David J. < 4 Delgado, Luisa 5 Lewis, Arlene S. 6 Nixon, Robert R. 7 Shippe, Lance W. 8 Watts, Brandon Q. Taxable Earnings Employee Name Cumulative Pay Before Current Earnings $6,620.00 Current Gross Pay Unemployment Compensation Social Security $960.00 6,160.00 1,220.00 54,360.00 2,440.00 53,870.00 1,720.00 24,840.00 1,480.00 126,000.00 3,120.00 Required: 1. Calculate the amount of taxable earnings for unemployment, Social Security, and Medicare taxes. 2. Prepare the journal entry to record the employer's payroll taxes as of October 7, 20--.