Question: Why are these incorrect? What am I missing here? On January 8, the end of the first weekly pay period of the year, Regis Company's

Why are these incorrect? What am I missing here?

Why are these incorrect? What am I missing here? On January 8,the end of the first weekly pay period of the year, RegisCompany's employees earned $27,760 of office salaries and $60,840 of sales salaries.

On January 8, the end of the first weekly pay period of the year, Regis Company's employees earned $27,760 of office salaries and $60,840 of sales salaries. Withholdings from the employees' salaries include FICA Social Security taxes at the rate of 6.2%, FICA Medicare taxes at the rate of 1.45%, $13,160 of federal income taxes, $1,450 of medical insurance deductions, and $860 of union dues. No employee earned more than $7,000 in this first period. Required: 1.1 Calculate below the amounts for each of these four taxes of Regis Company. Regis's state unemployment tax rate is 5.4% of the first $7,000 paid to each employee. The federal unemployment tax rate is 0.6%. 1.2 Prepare the journal entry to record Regis Company's January 8 employee payroll expenses and liabilities. 2. Prepare the journal entry to record Regis's employer payroll taxes resulting from the January 8 payroll. Regis's state unemployment tax rate is 5.4% of the first $7,000 paid to each employee. The federal unemployment tax rate is 0.6%. x Answer is not complete. Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 2 Calculate below the amounts for each of these four taxes of Regis Company. Regis's state unemployment tax rate is 5.4% of the first $7,000 paid to each employee. The federal unemployment tax rate is 0.6%. (Round your answers to 2 decimal places.) Regis Company's: Tax January 8 earnings subject to tax Tax Rate Tax Amount FICA-Social Security 27,760 X 5.40% X 1,499.04 FICA-Medicare 27,760 X 5.40% X 1,499.04 FUTA 27,760 X 5.40% X 1,499.04 SUTA 27,760 X 5.40% 1,499.04 On January 8, the end of the first weekly pay period of the year, Regis Company's employees earned $27,760 of office salaries and $60,840 of sales salaries. Withholdings from the employees' salaries include FICA Social Security taxes at the rate of 6.2%, FICA Medicare taxes at the rate of 1.45%, $13,160 of federal income taxes, $1,450 of medical insurance deductions, and $860 of union dues. No employee earned more than $7,000 in this first period. Required: 1.1 Calculate below the amounts for each of these four taxes of Regis Company. Regis's state unemployment tax rate is 5.4% of the first $7,000 paid to each employee. The federal unemployment tax rate is 0.6%. 1.2 Prepare the journal entry to record Regis Company's January 8 employee payroll expenses and liabilities. 2. Prepare the journal entry to record Regis's employer payroll taxes resulting from the January 8 payroll. Regis's state unemployment tax rate is 5.4% of the first $7,000 paid to each employee. The federal unemployment tax rate is 0.6%. * Answer is not complete. Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 2 Prepare the journal entry to record Regis Company's January 8 employee payroll expenses and liabilities. (Round your answers to 2 decimal places.) No Date General Journal Debit Credit Jan 08 Office salaries expense 27,760.00 Sales salaries expense 60,840.00 FICA-Social sec. taxes payable FICA-Medicare taxes payable Federal unemployment taxes payable X 13, 160.00 x Employee medical insurance payable 1,450.00 x Employee union dues payable 860.00 X Salaries payable On January 8, the end of the rst weekly pay period of the year, Regis Company's employees earned $27,760 of ofce salaries and $60340 of sales salaries. Withholdings from the employees' salaries include FICA Social Security taxes at the rate of 6.2%, FICA Medicare taxes at the rate of1.45%. $13,160 of federal income taxes. $1,450 of medical insurance deductions. and $860 of union dues. No employee earned more than $7,000 in this rst period. Required: 1.1 Calculate below the amounts for each of these four taxes of Regis Company. Regis's state unemployment tax rate is 5.4% of the rst $7.000 paid to each employee. The federal unemployment tax rate is 0.6%. 1.2 Prepare the journal entry to record Regis Company's January 8 employee payroll expenses and liabilities. 2. Prepare the journal entry to record Regis's employer payroll taxes resulting from the January 8 payroll. Regis's state unemployment tax rate is 5.4% of the rst $7.000 paid to each employee. The federal unemployment tax rate is 0.6%. 9 Answer Is not complete. Complete this question by entering your answers In the tab: below. Rec] 1A Net] 13 Prepare the journal entry to record Regls's employer payroll taxes resulting from the January 8 payroll. Regis's state unemployment tax rate is 5.4% of the rst $59,000 paid to each employee. The federal unemployment tax rate is 0.6%. (Round your answers to 2 decimal places.) Payroll taxes expense FICASocial sec. taxes payable FICAMedicare taxes payable Federal unemployment taxes payable State unemployment taxes payable { R9111

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