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confused! help please additional info State Company had the following partially completed payroll register: Click the icon to view the partial payroll register.) Click the
confused! help please
additional info
State Company had the following partially completed payroll register: Click the icon to view the partial payroll register.) Click the icon to view payroll tax rate information) Read the requirements Requirement 1. Complete the payroll register. Round to two decimals. (Round all amounts to the nearest cent. Abbreviations used: Beg. = B With. = Withholdings: Chk = Check.) Earnings Withholdings Beg. Current Ending Cum. Salaries and Wages Exp. Cum. Period Income Health United Total Net Chk Earn. Earn. Earn. OASDI Med. With Pay No. Tax Ins. Way $ 1,628 S 88 $ 45 $ 83,000 $4,400 801 131,000 720 120 40 802 6,000 3,700 54,000 1,369 74 0 803 64,000 3,700 444 74 10 804 0 4,500 540 90 0 805 $ 332,000 $ 22,300 $ 4,701 $ 446 $ 95 Requirements 1. Complete the payroll register. Round to two decimals. 2. Journalize State Company's salaries and wages expense accrual for the current pay period. 3. Journalize State Company's expenses for employer payroll taxes for the current pay period. 4. Journalize the payment to employees. 5. Journalize the payment for withholdings and employer payroll taxes. - 1 Data Table Earnings Withholdings Salaries and Ending Cumulative Net Check Total Withholdings Wages Expense Earnings No. OASDI Medicare Pay 801 Beginning Current Cumulative Period Earnings Earnings $ 83,000 $ 4.400 131.000 6,000 54,000 3,700 64,000 3,700 0 4,500 $ 332,000 $ 22,300 Income Health United Tax Insurance Way $ 1,628 $ 88 $ 45 720 120 40 1,369 74 0 444 74 10 540 90 0 802 803 804 805 $ 4,701 S 446 $ 95 More Info For all payroll calculations, use the following tax rates and round amounts to the nearest cent: Employee: OASDI: 6.2% on first $132,900 earned; Medicare: 1.45% up to $200,000, 2.35% on earnings above $200,000. Employer: OASDI: 6.2% on first $132,900 earned; Medicare: 1.45%; FUTA: 0.6% on first $7,000 earned; SUTA: 5.4% on first $7,000 earned Step by Step Solution
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