Kip Bowman is owner and sole employee of KB Corporation. He pays himself a salary of $1,500 each week.

Additional tax information includes:

FICA tax-OASDI..................................................... 6.2% on first $118,500

FICA tax-HI ............................................................ 1.45% on total pay

Federal income tax...................................................... $232.00 per pay

State income tax.......................................................... 22% of the federal income tax withholding

Federal unemployment tax.......................................... 0.6% on first $7,000

State unemployment tax.............................................. 0.05% on first $14,000

Additional payroll deductions include:

401(k) plan................................................................. 3% per pay

Child support garnishment......................................... $100 per pay

Health insurance premium.......................................... $95 per pay

Record the payroll entry and payroll tax entry for the pay of the week ended June 3 (his year-to date pay is $31,500).

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JOURNAL POST 413 REF CREDIT 1215.01