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help On January 8, the end of the first weekly pay period of the year, Regis Company's employees earned $25,760 of office salaries and $70,840
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On January 8, the end of the first weekly pay period of the year, Regis Company's employees earned $25,760 of office salaries and $70,840 of sales salaries. Withholdings from the employees salaries include FICA Social Security taxes at the rate of 6.2%, FICA Medicare taxes at the rate of 1.45%, $13,460 of federal income taxes, $1.400 of medical insurance deductions, and $820 of unlon dues. No employee earned more than $7,000 in this first period. Required: 1-a. Calculate below the amounts for each of these four taxes of Regis Company, Regis's state unemployment tax rate is 5.4% of the first $7,000 paid to each employee. The federal unemployment tax rate is 0.6% 1-b. Prepare the journal entry to record Regis Company's January 8 employee payroll expenses and liabilities, 2. Prepare the journal entry to record Regis's employer payroll taxes resulting from the January 8 payroll . Regis's state unemployment tax rate is 5.4% of the first $7,000 paid to each employee. The federal unemployment tax rate is 0.6% Complete this question by entering your answers in the tabs below. Reg 1A Reg 1B Reg 2 ces Calculate below the amounts for each of these four taxes of Regis Company. Regis's state unemployment tax rate is 5.4% of the first $7,000 paid to each employee. The federat unemployment tax rate is 0.6%. (Round your answers to 2 decimal places.) Regis Company's January 8 Earnings Subject to Tax Tax Tax Rate Tax Amount FICA-Social Security FICA--Medicare FUTA SUTA Req 18 > Step by Step Solution
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