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I need to put this information into this journalizing form on the bottom please this is all the information i was given this is literally
I need to put this information into this journalizing form on the bottom please
this is all the information i was given
this is literally all the information i was given
Taxable Earnings "Applicable tax rate Totals Total payroll taxes \begin{tabular}{|r|r|r|r|} \hline 3685 & 7425 & 1190 & 1340 \\ \hline 0.062 & 0.0145 & 0.006 & 0.028 \\ \hline & & & \\ \hline 228.47 & 107.66 & 7.14 & 37.52 \\ \hline \end{tabular} Problem 1 Problem 2 Problem 2a Journalizing Problem 3 Problem 4+ 827 Surny Problem 2: The form below shows the amounts that appear in the Earnings to Date column of the employees' earnings records for 10 full- and part-time workers in Ranger Company. These amounts represent the cumulative earnings for each worker as of November 1 , the company's last payday. The form also gives the gross amount of earnings to be paid each worker on the next payday, November 8 . In the state where Ranger Company is located, the tax rates and bases are as follows: Tax on Employees: FICA-OASDI 6.2% on first $137,700 FICA-HI 1.45% on total earnings SUTA 0.5% on first $8,000 Tax on Employer: FICA-OASDIFICA-HI6.2%onfirst$137,7001.45%ontotalearnings FUTA 0.6% on first $7,000 SUTA 2.8% on first $8,000 In the appropriate columns of the form below, do the following: Compute the amount to be withheld from each employee's earnings on November 8 for (a) FICA-OASDI, (b) FICA-HI, and (c) SUTA, and determine the total employee taxes. Record the portion of each employee's earnings that is taxable under FICA, FUTA, and SUTA, and calculate the total employer's payroll taxes on the November 8 payroll. Once you have calculated the payroll taxes then: 1. Journalize the entry to record the payroll. 2. Journalize the entry to record the employer's payroll taxes. 3. Journalize the entry to deposit the FICA and FIT taxes. Taxable Earnings "Applicable tax rate Totals Total payroll taxes \begin{tabular}{|r|r|r|r|} \hline 3685 & 7425 & 1190 & 1340 \\ \hline 0.062 & 0.0145 & 0.006 & 0.028 \\ \hline & & & \\ \hline 228.47 & 107.66 & 7.14 & 37.52 \\ \hline \end{tabular} Problem 1 Problem 2 Problem 2a Journalizing Problem 3 Problem 4+ 827 Surny Problem 2: The form below shows the amounts that appear in the Earnings to Date column of the employees' earnings records for 10 full- and part-time workers in Ranger Company. These amounts represent the cumulative earnings for each worker as of November 1 , the company's last payday. The form also gives the gross amount of earnings to be paid each worker on the next payday, November 8 . In the state where Ranger Company is located, the tax rates and bases are as follows: Tax on Employees: FICA-OASDI 6.2% on first $137,700 FICA-HI 1.45% on total earnings SUTA 0.5% on first $8,000 Tax on Employer: FICA-OASDIFICA-HI6.2%onfirst$137,7001.45%ontotalearnings FUTA 0.6% on first $7,000 SUTA 2.8% on first $8,000 In the appropriate columns of the form below, do the following: Compute the amount to be withheld from each employee's earnings on November 8 for (a) FICA-OASDI, (b) FICA-HI, and (c) SUTA, and determine the total employee taxes. Record the portion of each employee's earnings that is taxable under FICA, FUTA, and SUTA, and calculate the total employer's payroll taxes on the November 8 payroll. Once you have calculated the payroll taxes then: 1. Journalize the entry to record the payroll. 2. Journalize the entry to record the employer's payroll taxes. 3. Journalize the entry to deposit the FICA and FIT taxes Step by Step Solution
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