Chapter 9 Homework A Saved 3 Exercise 9-8 Recording payroll LO P2, P3 60 points The following monthly data are taken from Ramirez Company at July 31: Sales salaries, $520,000; Office salaries, $104,000; Federal income taxes withheld, $156,000; State income taxes withheld, $35,000; Social security taxes withheld, $38,688; Medicare taxes withheld, $9,048; Medical insurance premiums, $12,500; Life insurance premiums, $9,500; Union dues deducted, $6,500; and Salaries subject to unemployment taxes, $61,000. 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%. eBook Hint 18 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%. Ask Complete this question by entering your answers in the tabs below. Print Reg 1 Req 3 Req 4 and 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. Total Premium Premium % Paid by Premium Employees Employees Employer Paid by Paid by Employee Medical Insurance Payable Employee Life Insurance Payable Date General Journal Debit Credit Record journal entry for accrued payroll, including employee deductions, for July. July 31 Record the cash payment of salaries. July 31 Req 1 and 2 Req3 > 3 Exercise 9-8 Recording payroll LO P2, P3 60 points The following monthly data are taken from Ramirez Company at July 31: Sales salaries, $520,000; Office salaries, $104,000; Federal income taxes withheld, $156,000; State income taxes withheld, $35,000; Social security taxes withheld, $38,688; Medicare taxes withheld, $9,048; Medical insurance premiums, $12,500; Life insurance premiums, $9,500; Union dues deducted, $6,500; and Salaries subject to unemployment taxes, $61,000. 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%. eBook Hint 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%. Ask Complete this question by entering your answers in the tabs below. Print Req 1 and 2 Req 3 Reg 4 Using the above information, complete the below table. Tax Amount Amounts Tax Tax Subject to Rate Tax State Unemployment Taxes Payable Federal Unemployment Taxes Payable 3 Exercise 9-8 Recording payroll LO P2, P3 60 points The following monthly data are taken from Ramirez Company at July 31: Sales salaries, $520,000; Office salaries, $104,000; Federal income taxes withheld, $156,000; State income taxes withheld, $35,000; Social security taxes withheld, $38,688; Medicare taxes withheld, $9,048; Medical insurance premiums, $12,500; Life insurance premiums, $9,500; Union dues deducted, $6,500; and Salaries subject to unemployment taxes, $61,000. 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%. eBook Hint 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%. Ask Complete this question by entering your answers in the tabs below. Print Reg 1 Reg 3 and 2 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%. Show less View transaction list Journal entry worksheet Record all employer's payroll expenses and liabilities for the month of July. Note: Enter debits before credits. Date General Journal Debit Credit July 31 Record entry View general journal Clear entry es for 1 Record all employer's payroll expenses and liabilities for the month of July. 2 Record the employer's benefit expense. 3 Record the cash payment of all liabilities related to the July payroll. Credit Note : = journal entry has been entered Record entry View general journal Clear entry