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dont reqlly understand from here now ? State Company had the following partially completed payrol register (1) (Click the icon to view payroll tax rate
dont reqlly understand from here now ?
State Company had the following partially completed payrol register (1) (Click the icon to view payroll tax rate information.) EA (Cilick the icon to view the partial payroll registec) Read the reguirements. Requirement 1. Complete the payroll register. Round to two decimals. (Round all amounts to the nearest cent. Abbreviations used: Beg. = Beginning: Cum, = Cumulative; Eam. = Eamings; Exp. = Expense; Mod. = Medicare; Ins. - insurance; With, = Withholdings: Chk = Check.) 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. 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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