Sink, Inc. had several employees working for the company.  The main product line was different types of Diapers that people used to cover their faces during any type of flu outbreak.  The following information was provided to you regarding the most recent payroll:

• Gross wages were $400,000
• Medical Insurance was $35,000 in total with the employee paying 30% and the employer paying 70%.
• Federal Income taxes were $40,000
• State Income taxes were $25,000
• Social Security withheld was $15,000 in total.
• Medicare withheld was $7,000 in total
• AP totaled $34,000 at this point in time.
• The employees had a Christmas fund deducted from their pay.  This was $5,000 in total
• Federal Unemployment tax was .5% with a limit of $300,000
• State Unemployment tax was 5.4% with a limit of $300,000

 

Required:  

Make the entries for the employee and employer portion of the payroll expenses.