Journal Entry: Recording Payroll Journal Entry: Payroll Dis Employee Benefits Employee Benefits The table below lists the employee contributions to Group Insurance and Health Insurance. Also, a check number has been assigned to each employee. Note that some employees are not yet eligible for Group Insurance coverage under the company plan. Name KIPLEY COMPANY, INC. Insurance Deduction Register GRP. INS. HEALTH INS. 50.85 $1.65 0.85 1.65 0.85 CK. NO. Carson, F. Wilson, W. 313 314 315 0.85 1.65 316 1.65 317 Utley, H (fire, L. Ismith, L ray, G. Robey, G. (schork T. Hardy, kipley, c. 0.85 1,65 318 0.85 1.65 319 320 1.65 0.85 32: 0.85 1.65 1.65 322 ayroll Register EARNINGS For Period Ending January 5, 20 DEDUCTIONS Name Gross OASDI HI FIT NET PAY SIT SUTA Cson, CH SIMPLE Grp. Ins. Health Ins. 5700.00 $43.40 Ck. No $10.15 $50.00 Amount $21.49 $0.42 $21.00 $20.00 55.62 13.01 897.04 673.25 69.00 Wilson, W Utley, H Fre, 0.54 26.91 50.00 42.08 27.54 20.34 9.84 16.00 0.41 20.36 40.00 877.10 5438 12.72 35.00 26.93 0.53 26.31 Smith 50.00 290.00 48.95 11.06 51.00 24.25 0.47 raya. 20.00 539.15 33.43 7.82 23.70 16.17 2.00 16.55 0.32 40.00 623.00 38.63 9.03 10.00 19.13 0.37 18.69 50.00 073.08 Robey, Schork, Hardy, opley, 47.93 11.21 23:23 0.46 53.00 16.00 23.19 60.00 666.11 01.30 9.66 0.40 19.90 30.00 1,000.00 02.00 20.45 30.70 14.50 46.00 0.60 10.00 30.00 Totals $467.755109.40 $58.00 $231.61 $4.59 $2631 3440.00 Taxable Earnings The employer's taxes have been calculated on the Totals row of Taxable Earnings in Chapters 3 and 5 using the following rates: -OASDI at 6.2% on the first $137,700 -HI at 1.45% on total earnings -FUTA at 0.6% on the first $7,000 -SUTA at 3.6890% on the first $10,000 Enter the Employer's total payroll taxes for the pay period ending January 8, 20- KIPLEY COMPANY, INC. Taxable Earnings Payroll Taxes Payroll Taxes OASDI Taxable Earnings HI FUTA SUTA Totals $7,544.31 $467.75 $109.39 $45.27 $278.31 Taxable Earnings Journal Entry: Record Journal Entry Recording Payroll Payable for the total net pay, Date Account Debit 20-- Jan. 12 Credit To record payroll. 20-- Jan. 12 To record payroll taxes. Journal Entry: Payroll Distribution Complete the following: Prepare the journal entry to record the payment of the payroll on January 14 when the paychecks are distributed to all workers, Account Debit 20-- Jan. 14 Date Credit