CPP 5 1 ( 2) Calculate and Record Employer Payroll Taxes Record the journal entry to account for employer payroll taxes based on the totals in the payroll register and the FUTA and SUTA calculations Book the entry on the date paychecks are distributed Recall that Zachary Fox and Michael Sierra are married,while Calvin Bell and David Alexander are single Year to date taxable earnings for FICA taxes,prior to the current pay period,are as follows Zachary Fox $0 Calvin Bell $20,478 57 David Alexander $198,450 Michael Sierra $117,600 Chart of Accounts Notes Enter the transaction date on the first line only (if multiple transactions are required, enter the date on the first line of each transaction) Enter all debits within the transaction prior to entering any credits See the Chart of Accounts provided for the proper account names to use To earn any credit for a given line within the journal entry,the account name must be correct Partial credit will be given for a correct account name with an incorrect amount,while full credit will be given for a correct account name with a correct amount Do not include journal entry explanation when submitting your answer FUTA Tax Zachary Fox$6 97SUTA Tax Zachary Fox$13 94FUTA Tax Calvin Bell$0SUTA Tax Calvin Bell$5 02FUTA Tax David Alexander$0SUTA Tax David Alexander$0FUTA Tax Michael Sierra$0SUTA Tax Michael Sierra$0 Date Account Name Debit Credit 12 19 Payroll Tax Expense FUTA Tax Payable 6 97 SUTA Tax Payable 18 96 Social Security Tax Payable 246 75 Medicare Tax Payable Payroll Register Pay Period 12 15 2019 Pay Date 12 19 2019 Earnings Deductions Employee Regular Regular Regular Overtime Overtime Overtime Total FWT SWT Social Medicare Vol With Check Net Pay Name Hours Rate Earnings Hours Rate Earnings Earnings Security Number Fox, Z 40 $28 00 $1,120 00 $42 00 $42 00 $1,162 00 $67 00 $58 10 $72 04 $16 85 $32 00 092 $916 01 Bell, C 40 $7 30 $292 00 11 5 $10 95 $125 93 $417 93 $16 00 $19 64 $25 91 $6 06 $47 08 093 $303 24 Alexander, D n a n a $4,050 00 na n a $4,050 00 $731 96 $178 20 S $81 23 $506 00 094 $2,552 61 Sierra, M n a na $2,450 00 n a n a $2,450 00 $247 70 $120 00 $148 80 $34 80 $75 00 095 $1,823 70 S S S S 5 S S S S S S S S S S S S S S S S S S S Totals $7,912 00 $167 93 $8,079 93 $1,062 66 $375 94 $246 75 $138 94 $660 08 $5,595 56

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CPP 5-1 (#2) Calculate and Record Employer Payroll Taxes Record the journal entry to account for employer payroll taxes based on the totals in the

CPP 5-1 (#2) Calculate and Record Employer Payroll Taxes

Record the journal entry to account for employer payroll taxes based on the totals in the payroll register and the FUTA and SUTA calculations. Book the entry on the date paychecks are distributed. Recall that Zachary Fox and Michael Sierra are married,while Calvin Bell and David Alexander are single. Year-to-date taxable earnings for FICA taxes,prior to the current pay period,are as follows:

Zachary Fox:$0
Calvin Bell:$20,478.57
David Alexander:$198,450
Michael Sierra:$117,600

Chart of Accounts

Notes:

Enter the transaction date on the first line only (if multiple transactions are required, enter the date on the first line of each transaction). Enter all debits within the transaction prior to entering any credits.
See the Chart of Accounts provided for the proper account names to use.
To earn any credit for a given line within the journal entry,the account name must be correct. Partial credit will be given for a correct account name with an incorrect amount,while full credit will be given for a correct account name with a correct amount.
Do not include journal entry explanation when submitting your answer.

FUTA Tax - Zachary Fox$6.97SUTA Tax - Zachary Fox$13.94FUTA Tax - Calvin Bell$0SUTA Tax - Calvin Bell$5.02FUTA Tax -David Alexander$0SUTA Tax -David Alexander$0FUTA Tax - Michael Sierra$0SUTA Tax - Michael Sierra$0

Date Account Name Debit Credit

12/19 Payroll Tax Expense ?

FUTA Tax Payable 6.97

SUTA Tax Payable 18.96

Social Security Tax Payable 246.75

Medicare Tax Payable ?

Payroll Register Pay Period 12/15/2019 Pay Date 12/19/2019 Earnings Deductions Employee Regular Regular Regular Overtime Overtime Overtime Total FWT SWT Social Medicare Vol. With Check Net Pay Name Hours Rate Earnings Hours Rate Earnings Earnings Security Number Fox, Z 40 $28.00 $1,120.00 $42.00 $42.00 $1,162.00 $67.00 $58.10 $72.04 $16.85 $32.00 092 $916.01 Bell, C 40 $7.30 $292.00 11.5 $10.95 $125.93 $417.93 $16.00 $19.64 $25.91 $6.06 $47.08 093 $303.24 Alexander, D n/a n/a $4,050.00 na n/a $4,050.00 $731.96 $178.20 S $81.23 $506.00 094 $2,552.61 Sierra, M n/a na $2,450.00 n/a n/a $2,450.00 $247.70 $120.00 $148.80 $34.80 $75.00 095 $1,823.70 S S S S 5 S S S S S S S S S S S S S S S S S S S Totals: $7,912.00 $167.93 $8,079.93 $1,062 66 $375.94 $246.75 $138.94 $660.08 $5,595.56