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Employee Benefits Group insurance coverage under the comptoy plan OLREY COMPNNY, INC. Payroll Register For Period Ending lanuary B, 20 Taxable Earnings The employer's taxes
Employee Benefits Group insurance coverage under the comptoy plan OLREY COMPNNY, INC. Payroll Register For Period Ending lanuary B, 20 Taxable Earnings The employer's taxes have been calculated on the Totals row of Taxable Earnings in Chapters 3 and 5 using the following rates: -OASDI at 6.2% on the first $147,000 - HI at 1.45% on total earnings - FUTA at 0.6% on the first $7,000 -SUTA at 3.6890% on the first $10,000 Enter the Employer's total payroll taxes for the pay period ending lanuary 8,20 -. Journal Entry: Recording Payroll complete the following: Prepare the journal entries as of January 12 to record the payroll and the paytoll taxes for the week ending January 8 . Credit Salaries Payable for the total net pay. Journal Entry: Payroll Distribution Complete the following Prepare the journal entry to record the payment of the payroll on January 14 when the paychecks are distributed to all workers
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