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how to journalize? please let me know! Problem 1 The payroll register for Star Express & Company for the pay period ended January 31 showed

how to journalize?
please let me know! image text in transcribed
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Problem 1 The payroll register for Star Express & Company for the pay period ended January 31 showed the following: Total Earnings 834,000 Taxable Earnings: Keep in mind that "taxable earnings" means the portion of earnings that are subject to tax. These are not the tax amounts themselves. FUTA SUTA 108,000.00 654,000.00 787,000.00 Social Security Deductions: These are the tax amounts deducted from employce pay. Federal income tax 129,600.00 Social Security tax 48,794.00 Medicare tax 12,093.00 Pension plan (Pension Plan Payable) 38,450.00 Health insurance Health Insurance Payable) 23,400.00 United Way (United Way Payable) 16,000.00 The Social Security tax rate is 6.2%, Medicare tax is 1.45%, FUTA tax is 0.6%, and SUTA tax is 2.3%. Prepare journal entries to record the following: 1. The payroll on Jan. 31. 2. The employer's payroll tax expense on Jan. 31. 3. The payment to employees on Feb. 3. Journal template is on the next page. You should have 3 journal entries, no more, no less. Don't forget to make sure total debits = total credits for each journal entry. Date Debit Credit Jan 31 sacarles and wages expense 334 000 Federal income tax payable 129600 social security tax payable 48794 Medicare tax payable 2003 Pension plan payable 38450 Health insurance payable 23400 United way payable 16000

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