Question: Please help with these incorrect answers. Please help find correct answer. Thank you! Please help! Stark Company has five employees. Employees paid by the hour
Please help with these incorrect answers. Please help find correct answer. Thank you!




Please help!
Stark Company has five employees. Employees paid by the hour earn $10 per hour for the regular 40-hour workweek and $15 per hour beyond the 40 hours per week. Hourly employees are paid every two weeks, but salaried employees are paid monthly on the last biweekly payday of each month. FICA Social Security taxes are 6.2% of the first $137,700 paid to each employee, and FICA Medicare taxes are 1.45% of gross pay. FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to each employee. The company has a benefits plan that includes medical insurance, life insurance, and retirement funding for employees. Under this plan, employees must contribute 5% of their gross income as a payroll withholding, which the company matches with double the amount. Following is the partially completed payroll register for the biweekly period ending August 31, which is the last payday of August. a. Complete this payroll register by filling in all cells for the pay period ended August 31. Prepare the August 31 journal entry to: b. Record the accrued biweekly payroll and related liabilities for deductions. c. Record the employer's cash payment of the net payroll of part b. d. Record the employer's payroll taxes including the contribution to the benefits plan. e. Pay all liabilities (except for the net payroll in part c) for this biweekly period. > Answer is complete but not entirely correct. Complete question by entering your answers in the tabs below. Req A Req B to E Complete this payroll register by filling in all cells for the pay period ended August 31. (Round your answers to 2 decimal places. Do not round your intermediate calculations.) Req A Req B to E Complete this payroll register by filling in all cells for the pay period ended August 31. (Round your answers to 2 decimal places. Do not round your interme calculations.) Cumulative Current-Period Gross Pay FIT Withholding FUTA FICA S.S. Employee Employee Plan Withholding Employee Pay Employee (Excludes Current Period) FICA Medicare Employee FICA Medicare Employer Net Pay (Current Period) Pay Hours SIT Withholding SUTA Employer Plan Expense FICA S.S. Employer Kathleen $ 133,700.00 $ 4,451.30 X $ X S 2,000.00 300.00 x 80.00 X 20.00 X Anthony 6,350.00 386.55 x 110.00 X Nichole 16,000.00 $ 2,700.00 400.00 150.00 40.00 90.00 30.00 140.00 40.00 30.00 10.00 506.24 X 25.00 X 100.00 X 22.00 X Zoey 6,650.00 726.22 X Gracie 5,450.00 90.00 X 21.00 X 872.93 X Totals $ 168,150.00 3,110.00 520.00 Pay Type Salary Salary Regular Overtime Regular Overtime Regular Overtime 80 6 80 12 34 Gross Pay $ 9,000.00 990.00 800.00 120.00 x 1,200.00 x 60.00x 1,110.00 X $10,790.00 x $ $ 2,380.00 388.00 97.20 $ 97.20 x 0.00 x 0.00 X 57.04 X 57.04 X 78.12 X 78.12 X 68.82 X 68.82 X $ 301.18 301.18 $ 101.50 $ 101.50 X 7.25 X 7.25 X 13.34 X 13.34 X 18.27 x 18.27 X 16.10 X 16.10 X 156.46 $ 156.46 350.00 X 700.00 x 49.50 99.00 46.00 X 92.00 X 63.00 x 126.00 X 55.50 X 111.00 x 564.00 1,128.00 $ 6,943.24 Req A Req B to E Prepare the August 31 journal entry to: (Round your answers to 2 decimal places. Do not round your intermediate calculations.) b. Record the accrued biweekly payroll and related liabilities for deductions. c. Record the employer's cash payment of the net payroll of part b. d. Record the employer's payroll taxes including the contribution to the benefits plan. e. Pay all liabilities (except for the net payroll in part c) for this biweekly period. Show les No Date General Journal Debit August 31 Salaries (or Wages) expense 10,790.00 X Employee federal income taxes payable Employee state income taxes payable FICA-Social security taxes payable FICA-Medicare taxes payable Employee benefits plan payable Salaries (or Wages) payable August 31 7,024.87 x Salaries (or Wages) payable Cash August 31 Payroll taxes expense 1,645.24 x FICA-Social security taxes payable FICA-Medicare taxes payable Employee benefits plan payable Federal unemployment taxes payable State unemployment taxes payable 1 2 3 X Credit 2,380.00 X 380.00 301.18 156.46 x 539.50 x 7,024.87 7,024.87 301.18 X 156.46 X 1,079.00 10.86 97.74 3 4 5 August 31 August 31 August 31 Payroll taxes expense FICA-Social security taxes payable FICA-Medicare taxes payable Employee benefits plan payable Federal unemployment taxes payable State unemployment taxes payable Employee benefits expense Cash FICA-Social security taxes payable FICA-Medicare taxes payable Employee benefits plan payable Federal unemployment taxes payable State unemployment taxes payable Employee federal income taxes payable Employee state income taxes payable Cash X 1,645.24 x 1,645.24 602.36 312.91 X 1,618.50 X 10.86 x 97.74 X 2,380.00 X 388.00 X 301.18 X 156.46 X 1,079.00 X 10.86 x 97.74X 1,645.24 X 5,410.37 x Stark Company has five employees. Employees paid by the hour earn $10 per hour for the regular 40-hour workweek and $15 per hour beyond the 40 hours per week. Hourly employees are paid every two weeks, but salaried employees are paid monthly on the last biweekly payday of each month. FICA Social Security taxes are 6.2% of the first $137,700 paid to each employee, and FICA Medicare taxes are 1.45% of gross pay. FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to each employee. The company has a benefits plan that includes medical insurance, life insurance, and retirement funding for employees. Under this plan, employees must contribute 5% of their gross income as a payroll withholding, which the company matches with double the amount. Following is the partially completed payroll register for the biweekly period ending August 31, which is the last payday of August. a. Complete this payroll register by filling in all cells for the pay period ended August 31. Prepare the August 31 journal entry to: b. Record the accrued biweekly payroll and related liabilities for deductions. c. Record the employer's cash payment of the net payroll of part b. d. Record the employer's payroll taxes including the contribution to the benefits plan. e. Pay all liabilities (except for the net payroll in part c) for this biweekly period. > Answer is complete but not entirely correct. Complete question by entering your answers in the tabs below. Req A Req B to E Complete this payroll register by filling in all cells for the pay period ended August 31. (Round your answers to 2 decimal places. Do not round your intermediate calculations.) Req A Req B to E Complete this payroll register by filling in all cells for the pay period ended August 31. (Round your answers to 2 decimal places. Do not round your interme calculations.) Cumulative Current-Period Gross Pay FIT Withholding FUTA FICA S.S. Employee Employee Plan Withholding Employee Pay Employee (Excludes Current Period) FICA Medicare Employee FICA Medicare Employer Net Pay (Current Period) Pay Hours SIT Withholding SUTA Employer Plan Expense FICA S.S. Employer Kathleen $ 133,700.00 $ 4,451.30 X $ X S 2,000.00 300.00 x 80.00 X 20.00 X Anthony 6,350.00 386.55 x 110.00 X Nichole 16,000.00 $ 2,700.00 400.00 150.00 40.00 90.00 30.00 140.00 40.00 30.00 10.00 506.24 X 25.00 X 100.00 X 22.00 X Zoey 6,650.00 726.22 X Gracie 5,450.00 90.00 X 21.00 X 872.93 X Totals $ 168,150.00 3,110.00 520.00 Pay Type Salary Salary Regular Overtime Regular Overtime Regular Overtime 80 6 80 12 34 Gross Pay $ 9,000.00 990.00 800.00 120.00 x 1,200.00 x 60.00x 1,110.00 X $10,790.00 x $ $ 2,380.00 388.00 97.20 $ 97.20 x 0.00 x 0.00 X 57.04 X 57.04 X 78.12 X 78.12 X 68.82 X 68.82 X $ 301.18 301.18 $ 101.50 $ 101.50 X 7.25 X 7.25 X 13.34 X 13.34 X 18.27 x 18.27 X 16.10 X 16.10 X 156.46 $ 156.46 350.00 X 700.00 x 49.50 99.00 46.00 X 92.00 X 63.00 x 126.00 X 55.50 X 111.00 x 564.00 1,128.00 $ 6,943.24 Req A Req B to E Prepare the August 31 journal entry to: (Round your answers to 2 decimal places. Do not round your intermediate calculations.) b. Record the accrued biweekly payroll and related liabilities for deductions. c. Record the employer's cash payment of the net payroll of part b. d. Record the employer's payroll taxes including the contribution to the benefits plan. e. Pay all liabilities (except for the net payroll in part c) for this biweekly period. Show les No Date General Journal Debit August 31 Salaries (or Wages) expense 10,790.00 X Employee federal income taxes payable Employee state income taxes payable FICA-Social security taxes payable FICA-Medicare taxes payable Employee benefits plan payable Salaries (or Wages) payable August 31 7,024.87 x Salaries (or Wages) payable Cash August 31 Payroll taxes expense 1,645.24 x FICA-Social security taxes payable FICA-Medicare taxes payable Employee benefits plan payable Federal unemployment taxes payable State unemployment taxes payable 1 2 3 X Credit 2,380.00 X 380.00 301.18 156.46 x 539.50 x 7,024.87 7,024.87 301.18 X 156.46 X 1,079.00 10.86 97.74 3 4 5 August 31 August 31 August 31 Payroll taxes expense FICA-Social security taxes payable FICA-Medicare taxes payable Employee benefits plan payable Federal unemployment taxes payable State unemployment taxes payable Employee benefits expense Cash FICA-Social security taxes payable FICA-Medicare taxes payable Employee benefits plan payable Federal unemployment taxes payable State unemployment taxes payable Employee federal income taxes payable Employee state income taxes payable Cash X 1,645.24 x 1,645.24 602.36 312.91 X 1,618.50 X 10.86 x 97.74 X 2,380.00 X 388.00 X 301.18 X 156.46 X 1,079.00 X 10.86 x 97.74X 1,645.24 X 5,410.37 x
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