Trenton Williams works for Ramirez Company all year and earns a monthly salary of $4,800. There...

  

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Trenton Williams works for Ramirez Company all year and earns a monthly salary of $4,800. There is no overtime pay. Based on Trenton's W-4, Ramirez withholds income taxes at 10% of his gross pay. As of July 31, Trenton had $33,600 of cumulative eamings. (Click the icon to view payroll tax rate information.) Journalize the accrual of salary expense for Ramirez Company related to the employment of Trenton Williams for the month f August. (Record debits first, then credits. Round all amounts to the nearest cent. Select the explanation on the last line of the joumal entry table.) Date Accounts and Explanation Debit Credit More Info For all payroll calculations, use the following tax rates and round amounts to the nearest cent: Employee: OASDI: 6.2% on first $118,500 eamed; Medicare: 1.45% up to $200,000, 2.35% on earnings above $200,000. Employer. OASDI: 6.2% on first $118,500 eamed; Medicare: 1.45%; FUTA: 0.6% on first $7,000 earned; SUTA: 5.4% on first $7,000 earned. Print Done Trenton Williams works for Ramirez Company all year and earns a monthly salary of $4,800. There is no overtime pay. Based on Trenton's W-4, Ramirez withholds income taxes at 10% of his gross pay. As of July 31, Trenton had $33,600 of cumulative eamings. (Click the icon to view payroll tax rate information.) Journalize the accrual of salary expense for Ramirez Company related to the employment of Trenton Williams for the month f August. (Record debits first, then credits. Round all amounts to the nearest cent. Select the explanation on the last line of the joumal entry table.) Date Accounts and Explanation Debit Credit More Info For all payroll calculations, use the following tax rates and round amounts to the nearest cent: Employee: OASDI: 6.2% on first $118,500 eamed; Medicare: 1.45% up to $200,000, 2.35% on earnings above $200,000. Employer. OASDI: 6.2% on first $118,500 eamed; Medicare: 1.45%; FUTA: 0.6% on first $7,000 earned; SUTA: 5.4% on first $7,000 earned. Print Done

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Solution Date Accounts title and explanations Debit Credit 31Aug Sala... View the full answer