Exercise 9-20A (Static) Computing gross and net pay LO P5 Lenny Florita, an unmarried employee, works 48 hours in the week ended January 12 . His pay rate is $14 per hour, and his wages have deductions for FiCA Social Security, FiCA Medicare, and federal income taxes. He claims two withholding allowances. Compute his regular pay, overtime pay (Lenny earns $21 per hour for each hour over 40 per week), and gross pay. Then compute his FiCA tax deduction (6.2\% for the Social Security portion and 1.45\% for the Medicare portion), income tax deduction (use the wage bracket withholding table from Exhibit 9A,6 ), total deductions, and net pay. (Round your intermediate calculations and final answers to 2 decimal places.) 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 Federal Insurance Contributions Act (FICA) taxes are identical to those on employees and that State Unemployment Taxes (SUTA) are 5.4% and Federal Unemployment Taxes (FUTA) are 0.6%. Journal entry worksheet Record all employer's payroll expenses and liabilities for the month of July. Notel Enter debits before credits. 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 Federal Insurance Contributions Act (FCA) taxes are identical to those on employees and that State Unemployment Taxes (SUTA) are 5.4% and Federal Unemployment Taxes (FUTA) are 0.6%. Journal entry worksheet Record the cash payment of all liabilities related to the July payroll. Note: Enter debits before credits. 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 Federal Insurance Contributions Act (FICA) taxes are identical to those on employees and that State Unemployment Taxes (SUTA) are 5.4% and Federal Unemployment Taxes (FUTA) are 0.6%. Journal entry worksheet Record all employer's payroll expenses and liabilities for the month of July. Note: Enter debits before credits. Exercise 9-20A (Static) Computing gross and net pay LO P5 Lenny Florita, an unmarried employee, works 48 hours in the week ended January 12 . His pay rate is $14 per hour, and his wages have deductions for FiCA Social Security, FiCA Medicare, and federal income taxes. He claims two withholding allowances. Compute his regular pay, overtime pay (Lenny earns $21 per hour for each hour over 40 per week), and gross pay. Then compute his FiCA tax deduction (6.2\% for the Social Security portion and 1.45\% for the Medicare portion), income tax deduction (use the wage bracket withholding table from Exhibit 9A,6 ), total deductions, and net pay. (Round your intermediate calculations and final answers to 2 decimal places.) 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 Federal Insurance Contributions Act (FICA) taxes are identical to those on employees and that State Unemployment Taxes (SUTA) are 5.4% and Federal Unemployment Taxes (FUTA) are 0.6%. Journal entry worksheet Record all employer's payroll expenses and liabilities for the month of July. Notel Enter debits before credits. 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 Federal Insurance Contributions Act (FCA) taxes are identical to those on employees and that State Unemployment Taxes (SUTA) are 5.4% and Federal Unemployment Taxes (FUTA) are 0.6%. Journal entry worksheet Record the cash payment of all liabilities related to the July payroll. Note: Enter debits before credits. 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 Federal Insurance Contributions Act (FICA) taxes are identical to those on employees and that State Unemployment Taxes (SUTA) are 5.4% and Federal Unemployment Taxes (FUTA) are 0.6%. Journal entry worksheet Record all employer's payroll expenses and liabilities for the month of July. Note: Enter debits before credits