Hi, please help with the question below. Make sure you read through these requirements before answer the question:
1. Answer the question exactly follow the chart that I provided below
2. Only answer the question in case you can make sure you will answer them all.
3. Provide solutions to how you get these answers. Thank you.
Stark Company has five employees. Employees paid by the hour receive a $10 per hour pay rate for the regular 40-hour workweek plus one and one-half times the hourly rate for each overtime 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 $117,000 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 percent 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. (Round your answers to 2 decimal places.) FIT Current Period Gross Pay FICA S.S. Employee Withholding FUTA Employee Plan Withholding FICA Medicare Employee FICA Cumulative Pay Employee (Excludes Current Period) Employee Net Pay Pay Gross Pay Withholding SIT FICA S.S. SUTA Employer Employer Medicare Employer Plan Expense Kathleen $ 115,200.00 Salary $ 7,000.00 Anthony 6,800.00 Salary 500.00 Nichole 80 8 80 $ 2,000.00 300.00 80.00 20.00 110.00 25.00 100.00 22.00 90.00 21.00 $ 2,380.00 388.00 Regular 15,000.00 Overtime Regular Overtime Regular 5,000.00 Overtime Zoey 6,500.00 74 740.00 Gracie $ $ $ Totals $ 148,500.00 $0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 $ 0.00 b. Prepare the August 31 journal entry to record the accrued biweekly payroll and related liabilities for deductions. (Round your answers to 2 decimal places.) View transaction list Journal entry worksheet 1 2 3 4 5 Record the August 31 journal entry for the accrued biweekly payroll and related liabilities for deductions. Note: Enter debits before credits. Date General Journal Debit Credit Aug 31 Record entry Clear entry View general journal b. Prepare the August 31 journal entry to record the accrued biweekly payroll and related liabilities for deductions. (Round your answers to 2 decimal places.) View transaction list Journal entry worksheet
