Example 6-5 The journal entry to record the payroll from Figure 6.1, on pages 6-2 and 6-3, would be: Debit Credit Wages Expense 24,762.70 FICA Taxes Payable-OASDI 1,535.29 FICA Taxes Payable-HI 359.06 FIT Payable 3,714.00 SIT Payable 55.25 Group Insurance Payments W/H 54.70 Cash 19,044.40 Example 6-7 The journal entry to record the payroll tax entry from Figure 6.1 on pages 6-2 and 6-3 would be (assume a SUTA tax rate of 3.0%): Debit Credit Payroll Taxes 2,785.81 FICA Taxes Payable-OASDI 1,535.29 FICA Taxes Payable-HI 359.06 FUTA Taxes Payable 148.58 SUTA Taxes Payable 742.88 Vulcra, Inc., has a semimonthly payroll of $66,620 on September 15, 20--. The total payroll is taxable under FICA Taxes-HI; $63,920 is taxable under FICA Taxes-OASDI; and $10,270 is taxable under FUTA and SUTA. The state contribution rate for the company is 4.1%. The amount withheld for federal income taxes is $9,883. The amount withheld for state income taxes is $1,482. a. Journalize the payment of the wages, and record the payroll taxes on September 15. If an amount box does not require an entry, leave it blank. Round your answers to the nearest Debit Credit Account Payment of wages Wages Expense 66,620 0 FICA Taxes Payable-OASDI 0 FICA Taxes Payable-HI 0 X Employees FIT Payable 0 0 X Employees SIT Payable 0 0 x Cash 0 0 x Payroll taxes Payroll Taxes 0 x 0 > FICA Taxes Payable-OASDI 0 0 x FICA Taxes Payable-HI 0 0 x FUTA Taxes Payable 0 0 x SUTA Taxes Payable 0 0 x b. Assume that the employees of Vulcra, Inc., must also pay state contributions (disability insurance) of 1% on the taxable payroll of $61,910.00 and that the employees' contributions are to be deducted by the employer. Journalize the September 15 payment of wages, assuming that the state contributions of the employees are kept in a separate account. For a compound transaction, if an amount box does not require an entry, leave it blank. Round your answers to the nearest cent. Date Account Debit Credit Sept. 15 Wages Expense 0 x 0 FICA Taxes Payable-OASDI 0 0 x FICA Taxes Payable-HI 0 0 x 0 0 x Employees Disability Contributions Payable Employees FIT Payable 0 Employees SIT Payable o 0 X Cash 0 0 x