Check my work Exercise 9-17 Preparing payroll register and related entries LO P5 Stark Company has five employees Employees paid by the hour receive a $12 per hour pay rate for the regular 40 hour workweek plus one and one-half times the hourly rate for each overtime hour beyond the 40 hours per week. Hourly employees are paid every two weeks, but salaried employees are paid monthly on the last biweekly payday of each month. FICA Social Security taxes are 6.2% of the first $118,500 paid to each employer and FICA Medicare taxes are 145% of gross pay FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to cach employee The company has a benefits plan that includes medical insurance, life insurance, and retirement funding for employees Under this plannployees must contribute 5 percent of the gross income as a payroll withholding, which the company matches with double the amount. Following is the partially completed payroll register for the biweekly period ending August 31, which is the last payday of August a. Complete this payrol register by filling in all cells for the pay period ended August 31 (Round your answers to 2 decimal places.) FICA hoye Plan P fil Wholding o ss Employee Withholding R dpler 1 Current Period Gross Pay FICA 5.5 Employee Employee Plan Withholding Withholding Employee Cumulative Pay Excludes Current Period) FICA Medicare Employee EIGA Medicare Employer Employee Net Pay Pay Pay Gross Pay SUTA FICA S.S. Employer Employer Plan Expense Hours Type Withholding S 2.400.00 Kathleen $ 116,000.00 Salary $ 7.000.00 450.00 96.00 28.00 T L Anthony 6,300.00 Salary 580.00 29.00 58.00 126.00 Nichole 15,800.00 Regular Overtime 330 116.00 Zoey 5 Recular 6,600.00 Overtime Regulat 5.400.00 Overtime 75 900.00 SITE 30.00 105.00 29001 $ Totals $ 5 150 100.00 5 2844.00 $0.00 580.00 0.00 0.00 0.00 0.00 0.00 $ 2900 5800 0.00 1 of 3 Next > b, c, d & e. Prepare the August 31 journal entry to (Round your answers to 2 decimal places.) b. Record the accrued biweekly payroll and related liabilities for deductions c Record the employer's cash payment of the net payroll of part b. d. Record the employer's payroll taxes including the contribution to the benefits plan e. Pay all liabilities (except for the net payroll in part c) for this biweekly period. eBook View transaction list Print Journal entry worksheet References Record the August 31 journal entry for the accrued biweekly payroll and related liabilities for deductions Note: Enter debts before credits Date General Journal Debit Credit 5 Record the August 31 journal entry for the accrued biweekly payroll and related liabilities for deductions. Note: Enter debits before credits. Book Date Debit Credit Aug 31 Print General Journal Salaries (or Wages) expense Employee fed inc taxes payable Employee state in taxes payable FICA Social Sec taxes payable FICA--Medicare taxes payabi . Employee benefits plan payable Salaries for Wages, payable Record entry Clear endir View general journal 21 Record the August 31 journal entry for the employer's cash payment of the net payroll of part b. Note: Enter debits before credits Debit Credit Date Aug 31 General Journal Salaries (or Wages) payable Cash Record entry Clear entry View general journal b, c, d & e. Prepare the August 31 journal entry to (Round your answers to 2 decimal places.) b. Record the accrued biweekly payroll and related liabilities for deductions c Record the employer's cash payment of the net payroll of part b. d. Record the employer's payroll taxes including the contribution to the benefits plan e. Pay all liabilities (except for the net payroll in part c) for this biweekly period. eBook View transaction list Print Journal entry worksheet References Record the August 31 journal entry for the accrued biweekly payroll and related liabilities for deductions Note: Enter debts before credits Date General Journal Debit Credit 5 Record the August 31 journal entry for the accrued biweekly payroll and related liabilities for deductions. Note: Enter debits before credits. Book Date Debit Credit Aug 31 Print General Journal Salaries (or Wages) expense Employee fed inc taxes payable Employee state in taxes payable FICA Social Sec taxes payable FICA--Medicare taxes payabi . Employee benefits plan payable Salaries for Wages, payable Record entry Clear endir View general journal 21 Record the August 31 journal entry for the employer's cash payment of the net payroll of part b. Note: Enter debits before credits Debit Credit Date Aug 31 General Journal Salaries (or Wages) payable Cash Record entry Clear entry View general journal