6 10 points eBook Hint The following monthly data are taken from Ramirez Company at July 31: Sales salaries, $600,000; Office salaries, $120,000; Federal income taxes withheld, $180,000; State income taxes withheld, $40,000; Social security taxes withheld, $44,640; Medicare taxes withheld, $10,440; Medical insurance premiums, $14,500; Life insurance premiums, $11,500; Union dues deducted, $8,500; and Salaries subject to unemployment taxes, $65,000. The employee pays 40% of medical and life insurance premiums. Assume that FICA taxes are identical to those on employees and that SUTA taxes are 5.4% and FUTA taxes are 0.6%. 1. & 2. Using the above information, complete the below table and prepare the journal entries to record accrued payroll, including employee deductions, and cash payment of the net payroll (salaries payable) for July. 3. Using the above information, complete the below table. 4. Record the accrued employer payroll taxes and other related employment expenses and the cash payment of all liabilities related to the July payroll-assume that FICA taxes are identical to those on employees and that SUTA taxes are 5.4% and FUTA taxes are 0.6%. Print References Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Req 4 Using the above information, complete the below table and prepare the journal entries to record accrued payroll, including employee deductions, and cash payment of the net payroll (salaries payable) for July. Date Total Premium % Paid by Employees Employee Medical Insurance Payable Employee Life Insurance Payable $ 14,500 $ 11,500 Premium Paid by Employees 40% $ 40% $ Premium Paid by Employer 5,800 $ 4,600 $ 8,700 6,900 General Journal Debit Credit Record journal entry for accrued payroll, including employee deductions, for July. 6 employee deductions, and cash payment of the net payroll (salaries payable) for July. 10 points Total % Paid by Premium Paid Premium Employees by Employees Premium Paid by Employer Employee Medical Insurance Payable Employee Life Insurance Payable $ 14,500 40% $ 5,800 $ 8,700 $ 11,500 40% $ 4,600 $ 6,900 Date General Journal Debit Credit eBook Record journal entry for accrued payroll, including employee deductions, for July. Hint July 31 Print Accounts payable References Accounts receivable Bonus payable Cash Cost of goods sold Deferred income tax liability Record the cash payment of salaries. July 31 Salaries payable Cash 426,020 426,020 < Req 1 and 2 Req 3 > 6 employee deductions, and cash payment of the net payroll (salaries payable) for July. 10 points Total % Paid by Premium Paid Premium Employees by Employees Premium Paid by Employer Employee Medical Insurance Payable Employee Life Insurance Payable $ 14,500 40% $ 5,800 $ 8,700 $ 11,500 40% $ 4,600 $ 6,900 Date General Journal Debit Credit eBook Record journal entry for accrued payroll, including employee deductions, for July. Hint July 31 Print References Deferred income tax liability Mc Graw Employee benefits expense Employee benefits plan payable Employee bonus expense Employee federal income taxes payable Record the cash payment of salaries. July 31 Salaries payable Cash 426,020 426,020 < Req 1 and 2 Req 3 > Prov 6 of 9 Next 6 employee deductions, and cash payment of the net payroll (salaries payable) for July. 10 points Date eBook Hint Print References Total Premium % Paid by Premium Paid Employees by Employees Premium Paid by Employer Employee Medical Insurance Payable Employee Life Insurance Payable $ 14,500 40% $ 5,800 $ 11,500 40% $ $ 4,600 $ 8,700 6,900 General Journal Debit Credit Record journal entry for accrued payroll, including employee deductions, for July. July 31 Employee life insurance payable Employee medical insurance payable Employee state income taxes payable Employee union dues payable Estimated warranty liability Record the cash payment of salaries. July 31 Salaries payable Cash 426,020 426,020 Req 1 and 2 Req 3 > 6 employee deductions, and cash payment of the net payroll (salaries payable) for July. 10 points Date eBook Employee Medical Insurance Payable Employee Life Insurance Payable Total % Paid by Premium Paid Premium Employees by Employees $ 14,500 Premium Paid by Employer $ 11,500 40% $ 40% $ 5,800 $ 4,600 $ 8,700 6,900 General Journal Debit Credit Record journal entry for accrued payroll, including employee deductions, for July. Hint July 31 Print References Federal unemployment taxes payable FICA-Medicare taxes payable FICA-Social security taxes payable Income taxes expense Income taxes payable Record the cash payment of salaries. July 31 Salaries payable Cash 426,020 426,020 < Reg 1 and 2. Rea 3 > 6 10 Date points riemuIII Employees by Employees by Empicyci Employee Medical Insurance Payable $ 14,500 40% Employee Life Insurance Payable $ 11,500 $ 40% $ 5,800 $ 8,700 4,600 $ 6,900 General Journal Debit Credit Record journal entry for accrued payroll, including employee deductions, for July. July 31 eBook Interest expense Hint Print References Interest payable Interest receivable Interest revenue Merchandise inventory Notes pavable Record the cash payment of salaries. July 31 Salaries payable Cash 426,020 426,020 < Req 1 and 2 Req 3 > riemum cmpivyces by Employees By Employe Employee Medical Insurance Payable $ 14,500 40% $ 5,800 $ 8,700 Employee Life Insurance Payable $ 11,500 40% $ 4,600 $ 6,900 Date General Journal Debit Credit Record journal entry for accrued payroll, including employee deductions, for July. July 31 Notes receivable Office salaries expense Parts inventory Payroll taxes expense Salaries payable Saloc Record the cash payment of salaries. July 31 Salaries payable Cash 426,020 426,020 < Req 1 and 2 Req 3 > employee deductions, and cash payment of the net payroll (salaries payable) for July. Employees by Employees Total Premium % Paid by Premium Paid Premium Paid by Employer Employee Medical Insurance Payable Employee Life Insurance Payable $ 14,500 40% $ 5,800 $ 8,700 $ 11,500 40% $ 4,600 $ 6,900 Date General Journal Debit Credit Record journal entry for accrued payroll, including employee deductions, for July. July 31 Sales discounts Sales returns and allowances Sales salaries expense Sales taxes payable Services revenue Record the cash payment of salaries. July 31 Salaries payable Cash 426,020 426,020 < Req 1 and 2 Req 3 > 6 employee deductions, and cash payment of the net payroll (salaries payable) for July. 10 points Date eBook Employee Medical Insurance Payable Employee Life Insurance Payable Total % Paid by Premium Paid Premium Employees by Employees $ 14,500 Premium Paid by Employer 40% $ 5,800 $ 8,700 $ 11,500 40% $ 4,600 $ 6,900 General Journal Debit Credit Record journal entry for accrued payroll, including employee deductions, for July. Hint July 31 Print References State unemployment taxes payable Ticket revenue Unearned services revenue Unearned ticket revenue Vacation benefits expense Record the cash payment of salaries. July 31 Salaries payable Cash 426,020 426,020 Req 1 and 2 Req 3 > Date ""-"F,""""""""," =F,Z"," % Paid by Premium Paid Employees by Employees Total Premium Premium Paid by Employer Employee Medical Insurance Payable $ 14,500 40% $ 5,800 $ 8,700 Employee Life Insurance Payable $ 11,500 40% $ 4,600 $ 6,900 General Journal Debit Credit Record journal entry for accrued payroll, including employee deductions, for July. t July 31 t nces Unearned services revenue Unearned ticket revenue Vacation benefits expense Vacation benefits payable Warranty expense Record the cash payment of salaries. July 31 Salaries payable Cash 426,020 426,020 < Req 1 and 2 Req 3 > The following monthly data are taken from Ramirez Company at July 31: Sales salaries, $600,000; Office salaries, $120,000; Federal income taxes withheld, $180,000; State income taxes withheld, $40,000; Social security taxes withheld, $44,640; Medicare taxes withheld, $10,440; Medical insurance premiums, $14,500; Life Insurance premiums, $11,500; Union dues deducted, $8,500; and Salaries subject to unemployment taxes, $65,000. The employee pays 40% of medical and life insurance premiums. Assume that FICA taxes are identical to those on employees and that SUTA taxes are 5.4% and FUTA taxes are 0.6%. 1. & 2. Using the above information, complete the below table and prepare the journal entries to record accrued payroll, including employee deductions, and cash payment of the net payroll (salaries payable) for July. 3. Using the above information, complete the below table. 4. Record the accrued employer payroll taxes and other related employment expenses and the cash payment of all liabilities related to the July payroll-assume that FICA taxes are identical to those on employees and that SUTA taxes are 5.4% and FUTA taxes are 0.6%. Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Req 4 Using the above information, complete the below table. Tax Amounts Subject to Tax Tax Rate Tax Amount State Unemployment Taxes Payable $ Federal Unemployment Taxes Payable $ 65,000 65,000 5.4% $ 0.6% $ 3,510 390 < Req 1 and 2 Req 4 > View transaction list Journal entry worksheet 1 2 3 Record all employer's payroll expenses and liabilities for the month of July. Note: Enter debits before credits. Date July 31 General Journal Debit Credit Record entry Clear entry View general journal Kecora the accrued employer payroll taxes and other related employment expenses and the casn payment or all liabilities related to the July payroll-assume that Federal Insurance Contributions Act (FICA) taxes are identical to those on employees and that State Unemployment Taxes (SUTA) are 5.4% and Federal Unemployment Taxes (FUTA) are 0.6%. View transaction list Journal entry worksheet < 1 2 3 Record the employer's benefit expense. Note: Enter debits before credits. Date July 31 General Journal Debit Credit Record entry Clear entry View general journal > Journal entry worksheet < 1 2 3 Record the cash payment of all liabilities related to the July payroll. Note: Enter debits before credits. Date July 31 General Journal Debit Credit Record entry Clear entry View general journal