Exercise $9-10($Algo$)$ Recording payroll LO P$2,$ P$3$

The following monthly data are taken from Ramirez Company at July $31$: Sales salaries, $$380,000$; Office salaries, $$76,000$; Federal

income taxes withheld, $$114,000$; State income taxes withheld, $$25,500$; Social security taxes withheld, $$28,272$; Medicare taxes

withheld, $$6,612$; Medical insurance premiums, $$9,000$; Life insurance premiums, $$6,000$; Union dues deducted, $$3,000$; and Salaries

subject to unemployment taxes, $$54,000.$ 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 $5\mathrm{.}4\%$ and FUTA taxes are $0\mathrm{.}6\%.$

& $2.$ Using the above information, complete the below table and prepare the journal entries to record accrued payroll, including

employee deductions, and cash payment of the net payroll $($salaries payable$)$ for July.

Using the above information, complete the below table.

Record the accrued employer payroll taxes and other related employment expenses and the cash payment of all liabilities related to

the July payroll$-$assume that FICA taxes are identical to those on employees and that SUTA taxes are $5\mathrm{.}4\%$ and FUTA taxes are $0\mathrm{.}6\%.$

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Req $1$ and $2$

Req $3$

Req $4$

Record the accrued employer payroll taxes and other related employment expenses and the cash payment of all liabilities

related to the July payroll$-$assume that Federal Insurance Contributions Act $($FICA$)$ taxes are identical to those on

employees and that State Unemployment Taxes $($SUTA$)$ are $5\mathrm{.}4\%$ and Federal Unemployment Taxes $($FUTA$)$ are $0\mathrm{.}6\%.$