eBook Calculator Complete Accounting Services has the following payroll Information for the week ended December 7. State income tax is computed as 20 percent of federal income tax. DEDUCTIONS BEGINNING CUMULATIVE TOTAL EARNINGS NAME FEDERAL INCOME TAX EARNINGS STATE INCOME TAX Denato, T. 6,809.00 490.00 10.00 2.00 Herrera, M. 6,825.00 466.00 11.00 2.20 Joyner, 3. 36,342.00 737.00 45.00 9.00 King, L. 26,280.00 548.00 20.00 4.00 Wilson, M. 116,100.00 2.712.00 474.95 94.99 Yee, N. 28,420.00 607.00 24.00 4.80 Assumed tax rates are as follows: a. FICA: Social Security, (employer) 6.2 percent (0.062) and (employee) 6.2 percent (0.062) on the first 5118,500 for each employee, and Medicare, 1.45 percent (0.0145) on all earnings for each employee b. State Unemployment tax, 5.4 percent (0.054) on the first $7,000 for each employee C. Federal unemployment tax, 0.6 percent (0.006) on the first $7,000 for each employee. Required: 1. Complete the payroll register. Payroll checks begin with Ck. No. 5714 in the payroll register. If required, round your intermediate calculations and final answers to the nearest cent and use the rounded answers in subsequent computations. It an amount is zero, enter"0" PAYROLL REGISTER FOR WEEK ENDED Decem Previous Next Check My Work All work saved Email instructor Save and Eat Submit Assignment for Gradinis LUERIDOR UN ne total amount C eBook Calculator DLL REGISTER FOR WEEK ENDED December 7, 20-- DEDUCTIONS PAYMENTS FEDERAL INCOME STATE INCOME TAX SOCIAL SECURITY TAX SALARY EXPENSE NET MEDICARE TAX CK. NO. MEDICARE TAX TOTAL AMOUNT DEBIT 490 10 27 466 11 2.2 737 45 9 54B 20 4 2,712 474.95 94.99 607 7 24 4.8 5,560 584.95 116.99 uctions bringing you to the Net Pay eBook Calculator amountbe sure and watch for the maximum amounts on SOCIST Security axable income and also unemploymenetaxable income. A compreson must be totaled, balanced, and ruled. 2. Prepare a general Journal entry to record the payroll as of December 7. The company's general ledger contains a Salary Expense account and a Salaries Payable account. If an amount box does not require an entry, leave it blank. If required, round your intermediate calculations and final answers to the nearest cent and use th rounded answers in subsequent computations. GENERAL JOURNAL PAGE DATE DESCRIPTION POST. REF. DEBIT CREDIT 5,560 584.95 20- Dec. 7 Salaries Expense Employees' Federal Income Tax Payable FICA Social Security Tax Payable FICA Medicare Tax Payable Employees' state Income Tax Payable v Salarie Payable Payroll register for week ended December 7 116.99 4,452.56 Feed Cho My Won Since you were given the names of the expense and payable account for salaries, use them in your journal. FICA taxes are a combined total of Social Security and Medicare Tax Payable. Remember to include any other deduction from checks that is to be paid. Check My Work Previous Next 563 QuickBooks Onlin... The total amount eBook Calculator Since you were given the names of the expense and payable account for salaries, use them in your journal. A taxes are a combined total of Security and Medicare Tax Payable. Remember to include any other deduction from checks that is to be paid. 3. Prepare a general Journal entry to record the payroll taxes as of December 7. If an amount box does not require an entry, leave it blank. If required, round your Intermediate calculations and final answers to the nearest cent and use the rounded answers in subsequent computations. GENERAL JOURNAL PAGE DATE DESCRIPTION POST REF. DEBIT CREDIT 20- 427.46 Dec. 7 Payroll Tax Expense FICA Social Security Tax Payable FICA Medicare Tax Payable State Unemployment Tax Payable Federal Unemployment Tax Payable To record embleyer's share of ICA taxes and employer's state and federal unemployment taxes eBook Calculator Check My Wort This journal should be for the employer's share payroll taxes only. This is an expense to the company and the taxes are put in payables until the appropriate payment and reports are filed such as Form 941. It is very important to keep accurate records of taxes to be filed 4. Journalize the entry to pay the payroll on December 9. (Assume that the company has transferred cash to the Cash--Payroll Bank Account for this payroll.) Round your answers to the nearest cent. GENERAL JOURNAL DESCRIPTION PAGE DATE POST. REF. DEBIT CREDIT 20- bec. 9 Salaries Payable 4,452.56 Cash-Payroll Bank Account 4,452.56 Pald salaries for week ended December 7 wawon I When wages are paid, money is taken from the Payroll cash account to clear the Salaries Payable account. Unlike the entry when using the main Cash account each individual check IS NOT listed. When clearing out a Payable account, the entry is the opposite of the normal balance