On January 8, the end of the first weekly pay period of the year, Regis Company's payroll register showed that its employees earned $22,760 of office salaries and $65,840 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%, $12,860 of federal income taxes, $1,340 of medical insurance deductions, and $840 of union dues. No employee earned more than $7,000 in this first period.

Required:

1.Calculate below the amounts for each of these four taxes of Regis Company. Regis's merit rating reduces its state unemployment tax rate to 4% of the first $7,000 paid each employee. The federal unemployment tax rate is 0.6%. (Round your answers to 2 decimal places.)

Prepare the journal entry to record Regis Company?s January 8 (employee) payroll expense and liabilities.

Prepare the journal entry to record Regis's (employer) payroll taxes resulting from the January 8 payroll. Regis's merit rating reduces its state unemployment tax rate to 4% of the first 57.000 paid each employee. The federal unemployment tax rate is 0.6%.

Regis Company's: Tax FICA-Social Security FICA-Medicare FUTA SUTA $ January 8 Earnings Subject to Tax 88,600 88,600 88,600 88,600 Tax Rate 6.20% 1.45% 0.60% 4.00% Tax Amount 5,493.20 1,284.70 531.60 3,544.00 view transaction list Journal Entry Worksheet 1 view general journal Record the employee payroll expenses and liabilities for the first weekly pay period of the year. Date Jan 08 done General Journal Debit Credit *Enter debits before credits record entry clear entry X