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Instructions Part A: Payment of the Wages, and the Payroll Taxes Part 3: Payment of Wages Instructions Example 6-5 The journal entry to record the

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Instructions Part A: Payment of the Wages, and the Payroll Taxes Part 3: Payment of Wages Instructions Example 6-5 The journal entry to record the payroll from Figure 6.1, on pages 6-2 and 6-3, would be: Credit Debit 24,762.70 Wages Expense FICA Taxes Payable-OASDI FICA Taxes Payable-HI FIT Payable SIT Payable Group Insurance Payments W/H Cash 1,535.29 359.00 3,714.00 55.25 54.70 19,044.40 Example 6-7 The journal entry to record the payroll tax entry from Figure 6.1 on pages 6-2 and 6-3 would be assume a SUTA tax rate of 3.0%): Debit Credit Payroll Taxes 2,785,81 FICA Taxes Payable-0A501 1,535.29 FICA Taxes Payable-HI 359.06 PUTA Taxes Payable 148.58 SUTA Taxes Payable 742.88 Purnell, Inc. has a semimonthly payroll of 553,900 on September 15, 20., The total payroll is taxable under FICA Taxes-HT: $50,400 is taxable under FICA Taxes OASI; and $7,300 is wat under FUTA and SUTA. The state contribution rate for the company is 3.1%. The amount withheld for federal Income taxes is $6,995. The amount withhold for state income taxes is $1,010. a. Journalize the payment of the wages, and record the payroll taxes on September 15. If an amount box does not require an entry, leave it blank. Round your answers to the nearest cent. Debit Credit Account 53,900 Payment of wages Wage Expense 781.55 FICA Taxes Payable-OASDI FICA Taxes Payable HI 3,124.80 543.80 FUTA Taxes Payable SUTA Taxes Payable 10.22 Cash 160 Payroll taxes A Payment of the Wagos, and the way of laxeb Part B Payment of Wages 6. Assume that the employees of Purnell, Inc., must also pay state contributions (disability insurance) of 1% on the taxable payroll of $24,100 and that the employees contributions are to be deducted by the employer. Journalize the September 15 payment of wages, assuming that the state contributions of the employees are kept in a separate account. For a compound transaction, if an amount box does not require an entry, leave it blank. Round your answers to the nearest cent. Date Account Debit Credit Sept. 15 ment Score: 0.0 Time Remaininn

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