Question: Can someone help me? I have all correct until the last page. I don't know what I am doing wrong. Can someone explain to me
Can someone help me? I have all correct until the last page. I don't know what I am doing wrong. Can someone explain to me where I get the answers or what I have to do to get the answer?




Exercise 9-8 Recording payroll LO P2, P3 The following monthly data are taken from Ramirez Company at July 31: Sales salaries, $360,000; Office salaries, $72,000; Federal income taxes withheld, $108,000; State income taxes withheld, $24,000; Social security taxes withheld, $26,784; Medicare taxes withheld, $6,264; Medical insurance premiums, $8,500; Life insurance premiums, $5,500; Union dues deducted, $2,500; and Salaries subject to unemployment taxes, $53,000. The employee pays 40% of medical and life insurance premiums. Assume that FICA taxes are identical to those on employees and that SUTA taxes are 5.4% and FUTA taxes are 0.6%. 182. Using the above information, complete the below table and prepare the journal entries to record accrued payroll and cash payment of the net payroll for July. 3. Using the above information, complete the below table. 4. Record the accrued employer payroll taxes and all other employer-paid expenses and the cash payment of all liabilities for July- assume that FICA taxes are identical to those on employees and that SUTA taxes are 5.4% and FUTA taxes are 0.6%. Complete this question by entering your answers in the tabs below. Req 1 and 2 Req3 Reg 4 Using the above information, complete the below table and prepare the journal entries to record accrued payroll and cash payment of the net payroll for July. Total % Paid by Premium Paid Premium Paid Premium Employees by Employees by Employer Employee Medical Insurance Payable $ 8,500 40% s 3,400 $ 5,100 Employee Life Insurance Payable $ 5,500 40% s 2,200 $ 3,300 Date General Journal Debit Credit Record journal entry for accrued payroll, including employee deductions, for July. July 31 Sales salaries expense 360,000 Office salaries expense 72,000 FICA-Medicare taxes payable 6,264 FICA-Social sec, taxes payable 26,784 Employee fed, inc. taxes payable 108,000 Employee state inc. taxes payable 24,000 Employee medical insurance payable 3,400 Employee life insurance payable 2,200 Employee union dues payable 2,500 Salaries payable 258,852 Record the cash payment of salaries. July 31 Salaries payable Cash 258,852 258,852 Exercise 9-8 Recording payroll LO P2, P3 The following monthly data are taken from Ramirez Company at July 31: Sales salaries, $360,000; Office salaries, $72,000; Federal income taxes withheld, $108,000; State income taxes withheld, $24,000; Social security taxes withheld, $26,784; Medicare taxes withheld, $6,264; Medical insurance premiums, $8,500; Life insurance premiums, $5,500; Union dues deducted, $2,500; and Salaries subject to unemployment taxes, $53,000. The employee pays 40% of medical and life insurance premiums. Assume that FICA taxes are identical to those on employees and that SUTA taxes are 5.4% and FUTA taxes are 0.6%. 1&2. Using the above information, complete the below table and prepare the journal entries to record accrued payroll and cash payment of the net payroll for July. 3. Using the above information, complete the below table. 4. Record the accrued employer payroll taxes and all other employer-paid expenses and the cash payment of all liabilities for July- assume that FICA taxes are identical to those on employees and that SUTA taxes are 5.4% and FUTA taxes are 0.6%. Complete this question by entering your answers in the tabs below. Req 1 and 2 Req3 Reg 4 Using the above information, complete the below table. Tax Tax Rate Tax Amount Amounts Subject to Tax $ 53,000 $ 53,000 5.4% S State Unemployment Taxes Payable Federal Unemployment Taxes Payable 2.862 0.6% S 318 Complete this question by entering your answers in the tabs below. Req 1 and 2 Req3 Reg 4 Record the accrued employer payroll taxes and all other employer-paid expenses and the cash payment of all liabilities for July-assume that FICA taxes are identical to those on employees and that SUTA taxes are 5.4% and FUTA taxes are 0.6%. View transaction list View journal entry worksheet NO Credit Date July 31 Debit 36,228 1 General Journal Payroll taxes expense FICA-Medicare taxes payable FICASocial sec. taxes payable Federal unemployment taxes payable State unemployment taxes payable 6,264 26,784 318 2,862 2 July 31 Employee benefits expense Employee medical insurance payable Employee life insurance payable 3 July 31 2,862 108,000 24,000 FICASocial sec. taxes payable FICAMedicare taxes payable Employee fed, inc. taxes payable Employee state income taxes payable Employee medical insurance payable Employee life insurance payable Employee union dues payable State unemployment taxes payable Federal unemployment taxes payable Cash 2,500 2.862 318
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