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I need help with problem #6 Medical Insurance was $35,000 in total with the employee paying 30% and the employer paying 70%. Federal Income taxes

image text in transcribedI need help with problem #6
Medical Insurance was $35,000 in total with the employee paying 30% and the employer paying 70%. Federal Income taxes were $40,000 State Income taxes were $25,000 Social Security withheld was $15,000 in total. Medicare withheld was $7,000 in total AP totaled $34,000 at this point in time. The employees had a Christmas fund deducted from their pay. This was $5,000 in total Federal Unemployment tax was 5% with a limit of $300,000 State Unemployment tax was 5.4% with a limit of $300,000 Required: Make the entries for the employee and employer portion of the payroll expenses. stock: Problem #6 Corporations Fark Tart Limited was a corporation that made hair growth stimulants. The company had 425,000 shares of common stock authorized; 350,000 shares issued; 75,000 shares unissued; 250,000 shares outstanding; and 100,000 shares of Treasury Stock. Par value was $10 per share. In the month of February 2020, the company had the following transactions regarding their February 1: Cash dividends of $.50 per share were declared. February 5: A 10% stock dividend was declared. Fair market price of the stock was $15 per share. February 10: Recipients of the cash dividends and stock dividends were determined. February 15: Cash dividends were paid. February 20: The stock dividend was given out. December 31: All accounts were closed out (year- end). Required: Record the transactions listed above

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