homework question 3

On January 8, the end of the first weekly pay period of the year, Regis Company's employees earned $22,760 of office salaries and $60,840 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%,$13,060 of federal income taxes, $1,420 of medical insurance deductions, and $800 of union 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 joumal 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. Calculate below the amounts for each of these four taxes of Regis Company. Regis's state unemployment tax rate is 5.4% the first $7,000 paid to each employee. The federal unemployment tax rate is 0.6%. (Round your answers to 2 decimal places.) On January 8 , the end of the first weekly pay period of the year, Regis Company's employees earned $22,760 of office salaries and $60,840 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%,$13.060 of federal income taxes, $1,420 of medical insurance deductions, and $800 of union 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. Prepare the journal entry to record Regis Company's January 8 employee payroll expenses and liabilities. (Round your ans decimal places.) Journal entry worksheet Record the employee payroll expenses and liabilities for the first weekly pay period of the year. Note: Enter debits before credits. On January 8 , the end of the first weekly pay period of the year, Regis Company's employees earned $22,760 of office salaries and $60,840 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%,$13.060 of federal income taxes, $1,420 of medical insurance deductions, and $800 of union 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. Prepare the foumal entry to record Regis's employer payroll taxes resulting from the January 8 payroll. Regis's state unem rate is 5.4% of the first $7,000 paid to each employee. The federal unemployment tax rate is 0.6%. (Round your answers places.) Journal entry worksheet Record the employer's payroll expenses and liabilities for the first weekly pay period of the year. Note: Enter debits before credits