Below is a payroll sheet for Martinez Import Company for the month of September 2017. The company is allowed a 1 % unemployment compensation rate by the state; the federal unemployment tax rate is 0.8% and the maximum for both is $7,000. Assume a 10 % federal income tax rate for all employees and a 7.65 % FICA tax on employee and employer on a maximum of $118,500. In addition, 1.45% is charged both employer and employee for an employee's wages in excess of $118,500 per employee Complete the payroll sheet. (Round answers to 2 decimal places, e.g. 15.26.) Unemployment Tax Earnings to Aug. 31 September Earnings Income Tax Name Withholding FICA State Federal B. D. Wiliams $6,700 $700 D. Raye 6,500 600 K. Baker 7,600 1,200 F. Lopez 14,000 2,000 A. Daniels 109,100 14,200 dv B. Kingston 114,100 16,500 Total S $ Make the necessary entry to record the payment of the payroll.(If no entry is requined, select "No Entry account titiles are automatically indented when amount is entered. Do not indent manually.) for the account titles and enter 0 for the amounts. Credit PHANIENVESO BACK NEXT Make the necessary entry to record the payment of the payroll. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit LINK TO TEXT Make the entry to record the payroll tax expenses of Martinez Import Company. (Round answers to 2 decimal places, e.g. 15.25. If no entry is required, select "No Entry for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit 1121 AM Make the entry to record the payroll tax expenses of Martinez Import Company. (Round answers to 2 decimal ploces, e.g. 15.25. II no entry is required, select "No Entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit LINK TO TEXT Make the entry to record the payment of the payroll Babilities created. Assume that the company pays all payroll liabilities at the end of each month. (Round answers to 2 decimal places, e.g. 15.25. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered, Do not indent manually.) Debit Credit Account Titles and Explanation 11:21 AM
