Calculating Payroll Taxes Expense and Preparing Journal Entry Selected information from the payroll register of Ebeling's Dairy for the week ended July 7, 20, is shown below. The SUTA tax rate is 5.4%, and the FUTA tax rate is 0.6%, both on the first 57,000 of earnings. Social Security tax on the employer is 6.2% on the first $128,400 of earnings, and Medicare tax is 1.45% on gross earnings Taxable Earnings Current Weekly Unemployment Social Earnings Compensation Security $770 730 1,250 Cumulative Pay Before Current Earnings 56,620 6,400 23,590 6,860 125.330 25,740 28,550 Employee Name Click, Katelyn Coombs, Michelle Fauss, Erin Lenhan, Marcus McMahon, Drew Newell, Maro Stevens, Matt 5,170 1,140 1,280 Required: 1. Calculate the total employer payroll taxes for these employees Taxable Earnings Current Unemploy Social Employee Weekly Com Security Name Earning Calculator Print Item 1. Calculate the total employer payroll taxes for these employees Taxable Earnings Current Unemploy. Social Employee Weekly Comp. Security Name Earnings Click, Katelyn 770 770 Coombs, Michelle 730 730 Fauss, Erin 1,250 0 1,250 Lenihan, Marcus 930 930 McMahon, Drew 5,170 0 Newell, Marg 1,140 0 1,140 Stevens, Matt 1,280 0 1,280 Total 11,270 S Social Security tax Medicare tax FUTA tax SUTA tax Total employer payroll taxes 2. Prepare the journal entry to record the employer payroll taxes as of July 7, 20. All work saved O BI e E 8 9. 0 Newell, Marg Stevens, Matt Total 1,140 1,280 1,140 1,280 0 11,270 Social Security tax Medicare tax FUTA tax SUTA tax Total employer payroll taxes 2. Prepare the journal entry to record the employer payroll taxes as of July 7, 20, Page: DATE ACCOUNT TITLE DOC. POST. NO. REF. DEBIT CREDIT 20- 1 Payroll Taxes Expense July 7 1 2 Social Security Tax Payable 2 3 Medicare Tax Payable 3 4 FUTA Tax Payable 4 5 SUTA Tax Payable 5 6 All work saved o T! D E 6 (2 8 9