Hi, below is the question. Thank you
Stark Company has five employees. Employees paid by the hour earn $10 per hour for the regular 40-hour workweek and $15 per hour beyond the 40 hours per week. Hourly employees are paid every two weeks, but salaried employees are paid monthly on the last biweekly payday of each month. FICA Social Security taxes are 6.2% of the first $128,400 paid to each employee, and FICA Medicare taxes are 1.45% of gross pay. FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to each employee. The company has a benefits plan that includes medical insurance, life insurance, and retirement funding for employees. Under this plan, employees must contribute 5% of their gross income as a payroll withholding, which the company matches with double the amount. Following is the partially completed payroll register for the biweekly period ending August 31, which is the last payday of August. a. Complete this payroll register by filling in all cells for the pay period ended August 31. b, c, d & e. Prepare the August 31 journal entry to: b. Record the accrued biweekly payroll and related liabilities for deductions c. Record the employer's cash payment of the net payroll of part b. d. Record the employer's payroll taxes including the contribution to the benefits plan. e. Pay all liabilities (except for the net payroll in part c) for this biweekly period. Complete this question by entering your answers in the tabs below. Reg A Req B to E Complete this payroll register by filling in all cells for the pay period ended August 31. (Round your answers to 2 decimal places.) Current Period Gross Pay FIT FUTA FICA S.S. FICA Employee Medicare Employee Plan Cumulative Pay Withholding Employee Withholding Employee Employee (Excludes Current Period) Pay Pay Gross Pay SIT FICA S.S. FICA SUTA Medicare Employer Plan Net Pay Type Hours Withholding Employer Employer Expense Kathleen $ 127,050.00 Salary $ 7,000.00 $2,900.00 660.00 Anthony 5,800.00 Salary 1,480.00 116.00 74.00 38.00 148.00 Nichole 16,900.00 Regular 80 46.00 Overtime 11 43.00 Zoey ,750.00 Regular 136.00 Overtime 80 40.00 Gracie ,350.00 Regular 6 770.00 26.00 Overtime 39.00 $ 3,424.00 $ 0.00 $ 0.00 $ 0.00 $ 74.00 Totals $ 161,850.00 820.00 0.00 0.00 0.00 148.00 $ 0.00 Req A Complete this question by entering your answers in the tabs below. Req A Req B to E Prepare the August 31 journal entry to: (Round your answers to 2 decimal places.) b. Record the accrued biweekly payroll and related liabilities for deductions. c. Record the employer's cash payment of the net payroll of part b. d. Record the employer's payroll taxes including the contribution to the benefits plan. e. Pay all liabilities (except for the net payroll in part c) for this biweekly period. Show less View transaction list Journal entry worksheetFIT FICA Cumulative Pay Current Period Gross Pay Withholding FUTA FICA S.S. Employee Plan Employee Medicare Employee Withholding Employee Employee (Excludes FICA Current Period) Pay Pay SIT FICA S.S. Employer Plan Net Pay Type Hours Gross Pay Withholding SUTA Employer Medicare Employer Expense Kathleen $ 127,050.00 Salary $ 7,000.00 $ 2,900.00 660.00 Anthony 5,800.00 Salary 1,480.00 16.00 74.00 38.00 148.00 Nichole 16,900.00 Regular 80 146.00 Overtime 11 43.00 136.00 Zoey 6,750.00 Regular Overtime 80 40.00 Gracie ,350.00 Regular 77 770.00 26.00 Overtime 39.00 $ 161,850.00 $ 3,424.00 $ 0.00 $ 0.00 $ 0.00 $ 74.00 Totals 820.00 0.00 0.00 0.00 148.00 $ 0.00 Reg A Complete this question by entering your answers in the tabs below. Req A Req B to E Prepare the August 31 journal entry to: (Round your answers to 2 decimal places.) b. Record the accrued biweekly payroll and related liabilities for deductions. c. Record the employer's cash payment of the net payroll of part b. d. Record the employer's payroll taxes including the contribution to the benefits plan. e. Pay all liabilities (except for the net payroll in part c) for this biweekly period. Show less View transaction list Journal entry worksheet 3 5 Note: Enter debits before credits Date General Journal Debit Credit Aug 31 Record entry Clear entry View general journal
