Calculator Calculating Payroll Taxes Expense and Preparing Journal Entry Selected information from the payroll register of...

   

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Calculator Calculating Payroll Taxes Expense and Preparing Journal Entry Selected information from the payroll register of Ebeling's Dairy for the week ended July 7, 20--, is shown below. The SUTA tax rate is 5.4%, and the FUTA tax rate is 0.6%, both on the first $7,000 of earnings. Social Security tax on the employer is 6.2% on the first $128,400 of earnings, and Medicare tax is 1.45% on gross earnings. eBook Show Me How Emnluan Cumulative Pay Current Before Current Weekly Unemployment i Earnings Compensation Earnings $6,620 $770 11 6,340 750 23,550 1,230 6,940 980 125,350 5,140 25,060 28,330 Employee Name Click, Katelyn Coombs, Michelle Fauss, Erin Lenihan, Marcus McMahon, Drew Newell, Margi Stevens, Matt Required: 1. Calculate the total employer payroll taxes for these employees. Taxable Earnings Current Workb Unemploy Taxable Earnings 1,120 1,230 Social Social Security < 1. Calculate the total employer payroll taxes for these employees. Taxable Earnings Employee Name Click, Katelyn Coombs, Michelle Fauss, Erin Lenihan, Marcus McMahon, Drew Newell, Marg Stevens, Matt Total Current Weekly Earnings Social Security tax Medicare tax FUTA tax SUTA tax Total employer payroll taxes Unemploy. Comp. Social Security < 2. Prepare the journal entry to record the employer payroll taxes as of July 7, 20--. Page: 1 2 3 4 DATE 5 20- July 7 ACCOUNT TITLE DOC. POST. NO. REF. DEBIT 0000 CREDIT 0000 1 23+ 6 Calculator Calculating Payroll Taxes Expense and Preparing Journal Entry Selected information from the payroll register of Ebeling's Dairy for the week ended July 7, 20--, is shown below. The SUTA tax rate is 5.4%, and the FUTA tax rate is 0.6%, both on the first $7,000 of earnings. Social Security tax on the employer is 6.2% on the first $128,400 of earnings, and Medicare tax is 1.45% on gross earnings. eBook Show Me How Emnluan Cumulative Pay Current Before Current Weekly Unemployment i Earnings Compensation Earnings $6,620 $770 11 6,340 750 23,550 1,230 6,940 980 125,350 5,140 25,060 28,330 Employee Name Click, Katelyn Coombs, Michelle Fauss, Erin Lenihan, Marcus McMahon, Drew Newell, Margi Stevens, Matt Required: 1. Calculate the total employer payroll taxes for these employees. Taxable Earnings Current Workb Unemploy Taxable Earnings 1,120 1,230 Social Social Security < 1. Calculate the total employer payroll taxes for these employees. Taxable Earnings Employee Name Click, Katelyn Coombs, Michelle Fauss, Erin Lenihan, Marcus McMahon, Drew Newell, Marg Stevens, Matt Total Current Weekly Earnings Social Security tax Medicare tax FUTA tax SUTA tax Total employer payroll taxes Unemploy. Comp. Social Security < 2. Prepare the journal entry to record the employer payroll taxes as of July 7, 20--. Page: 1 2 3 4 DATE 5 20- July 7 ACCOUNT TITLE DOC. POST. NO. REF. DEBIT 0000 CREDIT 0000 1 23+ 6

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Employee Name CK CM FE LM MD NM S M Total Cumulative ... View the full answer