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For all payroll calculations, use the following tax rates and round amounts to the nearest cent. Employee: OASDI: 6.35% on first $116,500 earned; Medicare:
For all payroll calculations, use the following tax rates and round amounts to the nearest cent. Employee: OASDI: 6.35% on first $116,500 earned; Medicare: 1.4% up to $250,000, 2.25% on earnings above $250,000. Employer: OASDI: 6.35% on first $116,500 earned; Medicare: 1.4%; FUTA: 0.7% on first $8,000 earned: SUTA: 5.8% on first $8,000 earned. District Company had the following partially completed payroll register: REQUIREMENTS: 1. Complete the payroll register Earnings Witholdings Beginning Current Ending Cumulative Period Cumulative Earnings Earnings Earnings Salaries OASDI Medicare Income Health United Tax Insurance Way Total Withholdings Check Net Pay and Wages No. Expense $84,000 $3,200 $840 $84 $6 801 113,600 8,000 1970 197 50 802 39,000 3,200 800 80 0 803 63,000 3,500 640 64 50 804 0 1,000 400 40 0 805 $299600 $18900 $4650 $465 $106 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. Date Description Question Help: Message instructor Submit All Parts Debit Credit
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