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The following monthly data are taken from Ramirez Company at July 3 1 : Sales salaries, $ 6 6 0 , 0 0 0 ;
The following monthly data are taken from Ramirez Company at July : Sales salaries, $; Office salaries, $; Federal income taxes withheld, $; State income taxes withheld, $; Social security taxes withheld, $; Medicare taxes withheld, $; Medical insurance premiums, $; Life insurance premiums, $; Union dues deducted, $; and Salaries subject to unemployment taxes, $ The employee pays of medical and life insurance premiums. Assume that FICA taxes are identical to those on employees and that SUTA taxes are and FUTA taxes are
& 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 payrollassume that FICA taxes are identical to those on employees and that SUTA taxes are and FUTA taxes are
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1 Payroll and Deductions Table Salaries expense 660000 Federal tax withheld 198000 State tax withhel...Get Instant Access to Expert-Tailored Solutions
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