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I need help with the journal entries. The following monthly data are taken from Ramirez Company at July 31: Sales salaries, $200,000; Office salaries, $160,000;

I need help with the journal entries.image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

The following monthly data are taken from Ramirez Company at July 31: Sales salaries, $200,000; Office salaries, $160,000; Federal income taxes withheld, $90,000; State income taxes withheld, $20,000; Social security taxes withheld, $22,320; Medicare taxes withheld, $5,220; Medical insurance premiums, $7,000; Life insurance premiums, $4,000; Union dues deducted, $1,000; and Salaries subject to unemployment taxes, $50,000. The employee pays 40% of medical and life insurance premiums. Assume that FICA taxes are identical to those on employees and that SUTA taxes are 5.4% and FUTA taxes are 0.6% 1. & 2. Using the above information, complete the below table and Prepare the journal entries to record accrued payroll and cash payment of the net payroll for July. 3. Using the above information, complete the below table. 4. Record the accrued employer payroll taxes and all other employer-paid expenses and the cash payment of all liabilities for July. 2 1 Record all employer's payroll expenses and liabilities for the month of July Note: Enter debits before credits. Date General Journal Debit Credit Payroll taxes expense 37,140 July 31 FICA-Social sec. taxes payable 22,320 FICA-Medicare taxes payable 5,220 State unemployment taxes payable 2,700 Federal unemployment taxes payable 300 4,200 Employee medical insurance payable Employee life insurance payable 2,400 View general journal Record entry Clear entry Journal entry worksheet 3 1 2 Record the employer's benefit expense Note: Enter debits before credits. Debit Date General Journal Credit July 31 Record entry View general journal Clear entry Journal entry worksheet 2 1 Record the cash payment of all liabilities related to the July payroll. Note: Enter debits before credits. Date General Journal Debit Credit FICA-Social sec. taxes payable 44,640 July 31 FICA-Medicare taxes payable 10,440 Employee fed. inc. taxes payable 90,000 Employee state income taxes payable Employee medical insurance payable 20,000 7,000 Employee life insurance payable Employee union dues payable Federal unemployment taxes payable 4,000 1,000 2,700 Employee medical insurance payable 300 Cash 180,080

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