11.07/16,6 Natalie is considering hiring two permanent employees who are paid on an hourly bass plus time and what for all hours worked in excess of 40 hours per week. She is curious as to how this would atfect her company's financial position. She has created some hypothetical payroll data which are presented below. Cumulative Prior Earnings Hourly Rate Federal Income Tax United Fund Employee Hours Worked 5 $9 40 $12 59.216 B. Borke 10 50 12 9.984 E. Clarke Borke and Clarke are each married and they claim and 2 withholding allowances respectively. The 765S FICA tarte comisar the Social Security tax rate of 6.2% on salaries and was up to $120400 and the Medicare of London State income taxes are Federal and state unemployments are and on the first $7.000 a during the year Cookie Creation Payroll Register o O Type here to search What journal entry should be prepared to record the employer's payroll taxes on this hypothetical pudoto 2 decimal places, es, 15:25. Credit account titles are automatically Indented when amount stered Donden Account Titles and Explanation Debit Credit State Income Tax Payable Federal Income Tax Payable (To record employer's payroll taxes on the payroll) e Textbook and Media List of Accounts WA . O C Type here to search