Exercise $9-10($Algo$)$ Recording payroll LO P$2,$ P$3$

The following monthly data are taken from Ramirez Company at July $31$: Sales salaries, $$620,000$; Office

salaries, $$124,000$; Federal income taxes withheld, $$186,000$; State income taxes withheld, $$41,500$;

Social security taxes withheld, $$46,128$; Medicare taxes withheld, $$10,788$; Medical insurance premiums,

$$15,000$; Life insurance premiums, $$12,000$; Union dues deducted, $$9,000$; and Salaries subject to

unemployment taxes, $$66,000.$ The employee pays $40\%$ of medical and life insurance premiums.

Assume that FICA taxes are identical to those on employees and that SUTA taxes are $5\mathrm{.}4\%$ and FUTA

taxes are $0\mathrm{.}6\%.$

& $2.$ Using the above information, complete the below table and prepare the journal entries to record

accrued payroll, including employee deductions, and cash payment of the net payroll $($salaries payable$)$

for July.

Using the above information, complete the below table.

Record the accrued employer payroll taxes and other related employment expenses and the cash

payment of all liabilities related to the July payroll$-$assume that FICA taxes are identical to those on

employees and that SUTA taxes are $5\mathrm{.}4\%$ and FUTA taxes are $0\mathrm{.}6\%.$

Complete this question by entering your answers in the tabs below.

Req $1$ and $2$

Using the above information, complete the below table and prepare the journal entries to record accrued pay

employee deductions, and cash payment of the net payroll $($salaries payable$)$ for July.