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For all payroll calculations, use the following tax rates and round amounts to the nearest cent. Employee: OASDL:6.4% on first $117,000 earned; Medicare: 1.6% up
For all payroll calculations, use the following tax rates and round amounts to the nearest cent. Employee: OASDL:6.4% on first $117,000 earned; Medicare: 1.6% up to $215,000,2.25% on earnings above $215,000. Employer: OASDI: 6.49 on first $117,000 earned; Medicare: 1.6%; FUTA: 0.6% on first $9,000 earned; SUTA: 5.3% on first $9,000 earned. District Company had the following partially completed payroll register: REQUIREMENTS: 1. Complete the payroll register 2. Journalize District's wages expense accrual for the current pay period. 3. Journalize District's expenses for employer payroll taxes for the current pay period
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