Question: Help Save! The following monthly data are taken from Ramirez Company at July 31: Sales salaries. $560,000, Office salaries. $112.000; Federal ncome taxes withheld, $168.000.
Help Save! The following monthly data are taken from Ramirez Company at July 31: Sales salaries. $560,000, Office salaries. $112.000; Federal ncome taxes withheld, $168.000. State income taxes withheld, $37,500, Social security taxes withheld, $41,664 Medicare taxes withheld. $9.744: Medical insurance premiums. $13.500; Life insurance premiums, $10.500, Union dues deducted, $7,500 and Salaries subject to unemployment taxes, $63,000. 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 Reg 3 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 Employee Life Insurance Payable Date General Journal Debit Credit Record journal entry for accrued payroll, including employee deductions, for July July 31 1T
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