Assume an employee of Rocco Rock Company earns $$3,000$ of gross wages during the current pay period and is required to remit to the government $$300$ for income tax and $$150$ for FICA. Consider the following two procedures for paying the employee:

$\backslash$table$[[$Procedure $1($Withholdings$),],[\backslash$table$[[$Rocco Rock Company pays the employee net$],[$wages of $$2,550$ and will remit income taxes$],[$and FICA on behalf of the employee.$]],\backslash$table$[[$Rocco Rock Company pays the employee$],[$wages of $$3,000$ and the employee is$],[$responsible for remitting income taxe$],[$FICA himself.$]]],[$equired:$],[\backslash$table$[[1.$ Ignoring employer payroll taxes, under each procedure calculate $($a$)$ the total amount to be$],[$paid by the company and $($b$)$ the amount of cash the employee will have after satisfying all$],[$responsibilities to the government. Do your answers for procedures $1$ and $2$ differ for $($a$)?$ For$],[($b$)?],[2.$ Which approach does the government require?$],[3.$ Considering that employers are responsible for matching employees' FICA contributions,$],[$which procedure will employers prefer?$],[4.$ Prepare the journal entries required by the employer under procedure $1,$ assuming the$],[$employee is paid in cash, but the withholdings and matching employer FICA contribution$]]]]$

have not yet been pid. $($Do not ignore emplo ployer FICA contribution unemployment taxes.$)$

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Ignoring employer payroll taxes, under each procedure calculate $($a$)$ the total amount to be paid by amount of cash the employee will have after satisfying all responsibilities to the government. Do you

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