2 Partially correct Mark 341 out of 5.00 Recording Payroll and Payroll Taxes Flag question The following data are taken from Fremont Wholesale Company's May payroll: Administrative salaries Sales salaries Custodial salaries Total payroll Salaries subject to 145 percent Medicare tax Salanes subject to 6.2 percent Social Security tax Salaries subject to federal unemployment taxes Salaries subject to state unemployment taxes Federal income taxes withheld from all salaries $34,000 47,000 7,000 $88,000 $88,000 74,000 14,000 20,000 17,800 Assume that the company is subject to a two percent state unemployment tax (due to a favorable experience rating) and a 0.6 percent federal unemployment tax Required Record the following in general journal form on May 31: a Accrual of the monthly payroll. b. Payment of the net payroll. c. Accrual of employer's payroll taxes. (Assume that the FICA matches the amount withheld.) d. Payment of these payroll-related liabilities. (Assume that all are settled at the same time.) Round your answers to the nearest dollar. d. Round your answers to the nearest dollar. Part A Part B Part C Part D Date General Journal Description Debit Credit May 31 Administrative Salaries Expense $ 34,000 $ 0 Sales Salaries Expense 47,000 0 Custodial Salaries Expense 7,000 0 Federal Income Tax Withholding Payable 0~ 17,800 FICA Tax Payable 0 63,852 x Payroll Payable 0 0 % Check To record May payroll. Partially correct Marks for this submission: 3.41/5.00. a. Accrual of the monthly payroll. b. Payment of the net payroll. c. Accrual of employer's payroll taxes. (Assume that the FICA matches the amount withheld.) d. Payment of these payroll-related liabilities. (Assume that all are settled at the same time.) Round your answers to the nearest dollar. Part A Part B Part C Part D Date General Journal Description Debit Credit 63,852 x 0 63,852 x May 31 Payroll Payable Check Cash To pay May net payroll. Partially correct Marks for this submission: 3.41/5.00. Save Answers b. Payment of the net payroll. c. Accrual of employer's payroll taxes. (Assume that the FICA matches the amount withheld.) d. Payment of these payroll-related liabilities. (Assume that all are settled at the same time.) Round your answers to the nearest dollar. Part A Part B Part C Part D General Journal Date Description Debit Credit May 31 Payroll Tax Expense 0x 0 FICA Tax Payable 0 0x Federal Unemployment Tax Payable 0 0 * State Unemployment Tax Payable 0 0x To record employer's May payroll taxes. Check Partially correct Marks for this submission: 3.41/5.00. C. AC d. Payment of these payroll-related liabilities. (Assume that all are settled at the same time.) Round your answers to the nearest dollar. Part A Part B Part C Part D General Journal Date Description Debit Credit May 31 Federal Income Tax Withholding Payable FICA Tax Payable 0% 0 0 % Federal Unemployment Tax Payable 0 x 0 State Unemployment Tax Payable 0% 0 0 0 x Cash To pay liabilities related to May payroll. Check Partially correct Marks for this submission: 3.41/5.00. Business Course Return to course Question 2 Partsally correct Mark 3.41 out of 5.00 P Flag question Recording Payroll and Payroll Taxes The following data are taken from Fremont Wholesale Company's May payroll: Administrative salaries Sales salaries Custodial salaries Total payroll Salaries subject to 1.45 percent Medicare taxi Salaries subject to 6.2 percent Social Security tax Salaries subject to federal unemployment taxes Salaries subject to state unemployment taxes Federal income taxes withheld from all salaries $34,000 47,000 7,000 $88,000 $88,000 74,000 14,000 20,000 17,800 Assume that the company is subject to a two percent state unemployment tax (due to a favorable experience rating) and a 0.6 percent federal unemploym Required Record the following in general journal form on May 31