Set A The following is the monthly payroll of Andersen Company, owned by Donald Andersen. Employees...

 

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Set A The following is the monthly payroll of Andersen Company, owned by Donald Andersen. Employees are paid on the last day of each month. BA-1. JANUARY FICA Monthly Earnings YTD Earnings Employee OASDI $1,900 Medicare Federal Income Tax Sam Fish $1,900 $117.80 $ 27.55 3,150 S 264.00 Joy Bryant 3,150 195.30 45.68 Ariana Hess 3,760 3,760 351.00 233.12 54.52 $8,810 $8,810 $546.22 498.00 $127.75 $1,113.00 FEBRUARY FICA Employee Monthly Earnings YTD Earnings OASDI Medicare Federal Income Tax Sam Fish $2,220 $ 4,120 $137.64 $ 32.19 $ 308.00 Joy Bryant 3,500 6,650 217.00 50.75 321.00 Ariana Hess 3,780 7,540 234.36 54.81 430.00 $9,500 $18,310 $589.00 $137.75 $1,059.00 MARCH FICA Employee Monthly Earnings YTD Earnings OASDI Medicare Federal Income Tax Sam Fish $2,175 $ 6,295 $134.85 $ 31.54 $ 590.00 Joy Bryant 2,425 9,075 150.35 35.16 568.00 Ariana Hess 4,060 11,600 251.72 58.87 537.00 $8,660 $26,970 $536.92 $125.57 $1,695.00 Andersen Company is located at 2 Square Street, Marblehead, MA 01945. Its EIN is 29-3458822. The FICA tax rate for Social Security is 6.2% on up to $127,200 in earnings during the year, and Medicare is 1.45% on all earnings. The SUTA tax rate is 5.7% on the first $7,000. The FUTA tax rate is 0.6% on the first $7,000 of earnings. Andersen Company is classified as a monthly depositor for Form 941 taxes. Your tasks are to do the following: 1. Journalize the entries to record the employer's payroll tax expense for each pay period in the general journal. 2. Journalize entries for the payment of each tax liability in the general journal. Set A The following is the monthly payroll of Andersen Company, owned by Donald Andersen. Employees are paid on the last day of each month. BA-1. JANUARY FICA Monthly Earnings YTD Earnings Employee OASDI $1,900 Medicare Federal Income Tax Sam Fish $1,900 $117.80 $ 27.55 3,150 S 264.00 Joy Bryant 3,150 195.30 45.68 Ariana Hess 3,760 3,760 351.00 233.12 54.52 $8,810 $8,810 $546.22 498.00 $127.75 $1,113.00 FEBRUARY FICA Employee Monthly Earnings YTD Earnings OASDI Medicare Federal Income Tax Sam Fish $2,220 $ 4,120 $137.64 $ 32.19 $ 308.00 Joy Bryant 3,500 6,650 217.00 50.75 321.00 Ariana Hess 3,780 7,540 234.36 54.81 430.00 $9,500 $18,310 $589.00 $137.75 $1,059.00 MARCH FICA Employee Monthly Earnings YTD Earnings OASDI Medicare Federal Income Tax Sam Fish $2,175 $ 6,295 $134.85 $ 31.54 $ 590.00 Joy Bryant 2,425 9,075 150.35 35.16 568.00 Ariana Hess 4,060 11,600 251.72 58.87 537.00 $8,660 $26,970 $536.92 $125.57 $1,695.00 Andersen Company is located at 2 Square Street, Marblehead, MA 01945. Its EIN is 29-3458822. The FICA tax rate for Social Security is 6.2% on up to $127,200 in earnings during the year, and Medicare is 1.45% on all earnings. The SUTA tax rate is 5.7% on the first $7,000. The FUTA tax rate is 0.6% on the first $7,000 of earnings. Andersen Company is classified as a monthly depositor for Form 941 taxes. Your tasks are to do the following: 1. Journalize the entries to record the employer's payroll tax expense for each pay period in the general journal. 2. Journalize entries for the payment of each tax liability in the general journal.

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