Larry Walsh is general manager of National Salons. During National incurred payroll tax expense on Walsh for 2024, Walsh worked for the company all year at a $14,700 FICA tax. The company also paid state monthly salary. He also earned a year-end bonus equal to unemployment tax and federal unemployment tax. 10% of his annual salary. Walsh's federal income tax withheld during 2024 was $3,234 per month, plus $3,881 on his bonus check. State income tax withheld came to $110 per month, plus $70 on the bonus. FICA tax was withheld on the annual earnings. Walsh authorized the following payroll deductions: Charity Fund contribution of 3% of total earnings and life insurance of $40 per month. Requirement 1. Compute Walsh's gross pay, payroll deductions, and net pay for the full year 2024. Round all amounts to the nearest dollar. Begin by computing Walsh's gross pay for the year. (Round all amounts to the nearest dollar.) Now compute Walsh's payroll deductions and net pay for the year. (Round all amounts to the nearest dollar.) Larry Walsh is general manager of National Salons. During 2024, Walsh National incurred payroli tax expense on Walsh for FICA tax. The worked for the company all year at a $14,700 monthly salary. He also earned company also paid state unemployment tax and federal a year-end bonus equal to 10% of his annual salary. Walsh's federal income unemployment tax tax withheld during 2024 was $3,234 per month, plus $3,881 on his bonus check. State income tax withheld came to $110 per month, plus $70 on the bonus. FICA tax was withheld on the annual earnings. Waish authorized the following payroll deductions: Charity Fund contribution of 3% of total eamings and life insurance of $40 per month Larry Walsh is general manager of National Salons. During 2024, Walsh National incurred payroll tax expense on Walsh for FICA tax. The worked for the company all year at a $14,700 monthly salary. He also earned company also paid state unemployment tax and federal a year-end bonus equal to 10% of his annual salary. Walsh's federal income unemployment tax. tax withheld during 2024 was $3,234 per month, plus $3,881 on his bonus check. State income tax withheld came to $110 per month, plus $70 on the bonus. FICA tax was withheld on the annual eamings. Walsh authorized the following payroll deductions: Charity Fund pontribution of 3% of total earnings and life insurance of $40 per month. Requirement 2. Compute National's total 2024 payroll tax expense for Walsh. (Round all amounts to the nearest dollar) Requirement 3. Make the journal entry to record National's expense for Walsh's total earnings for the year, his payroll deductions, and net pay. Debit Salaries Expense and Bonus Expense as appropriate. Credit lability accounts for the payroll deductons and Cash for net pay. An explanation is not required. (Record Larry Walsh is general manager of National Salons, During 2024, Walsh worked for the company all year at a $14,700 monthly salary. He also earned a year-end bonus equal to 10% of his annual salary. Walsh's federal income tax withheld during 2024 was $3,234 per month, plus $3,881 on his bonus check. State income tax withheld came to $110 per month, plus $70 on the bonus. FICA tax was withheld on the annual eamings. Walsh authorized the following payroll deductions: Charity Fund contribution of 3% of total earnings and life insurance of $40 per month. Requirement 3. Make the journal entry to record Nationai's expense for Walsh's total earnings for the year, his payroll deductions, and net pay. Debit Salaries Expense and Bonus Expense as appropriate. Credit liability accounts for the payroll deductions and Cash for net pay. An explanation is not required. (Record debits first, then credits. Exclude explanations from journal entries.) Larry Walsh is general manager of National Salons. During 2024, Walsh National incurred payroll tax expense on Walsh for FICA tax. The worked for the company all year at a $14,700 monthly salary. He also earned company also paid state unemployment tax and federal a yeaf-end bonus equal to 10% of his annual salafy. Walsh's federal income unemployment tax tax withheld during 2024 was $3,234 per month, plus $3,881 on his bonus (Click the icon to view payroll tax rate information.) check. State incorne tax withheld came to $110 per month, plus $70 on the bonus. FICA tax was withheld on the annual earnings. Walsh authorized the following payroll deductions: Charity Fund contribution of 3% of total earnings and life insurance of $40 per month. Requirement 4. Make the journal entry to record the acerval of National's payroll tax expense for Walsh's total earnings. (Record debits first, then credits. Exclude explanations from journal entries.) Requirement 5. Make the journal entry for the payment of the payroll withholdings and taxes. (Record debits first, then credits. Exclude explanations from journal entries.) Larry Walsh is general manager of National Salons. During 2024, Walsh National incurred payroll tax expense on Walsh for FICA tax. The worked for the company all year at a $14,700 monthly salary. He also earned a year-end bonus equal to 10% of his annual salary. Walsh's federal income tax withheld during 2024 was $3,234 por month, plus $3,881 on his bonus check. State income tax withheld came to $110 per month, plus $70 on the bonus. FICA tax was withheld on the annual earnings. Walsh authorized the following payroll deductions: Charity Fund contribution of 3% of total earnings and life insurance of $40 per month. Requirement 5. Make the joumal entry for the payment of the payroll withholdings and taxes. (Record debits first, then credits. Exclude explanations from ioumal entries.] More info For all payroll calculations, use the following tax rates and round amounts to the nearest cent: Employee: OASDI: 6.2% on first $132,900 earned; Medicare: 1.45% up to $200,000,2.35% on earnings above $200,000. Employer: OASDI: 6.2% on first $132,900 earned; Medicare: 1.45%; FUTA: 0.6% on first $7,000 earned; SUTA: 5.4% on first $7,000 earned. Requirements 1. Compute Walsh's gross pay, payroll deductions, and net pay for the full year 2024. Round all amounts to the nearest dollar. 2. Compute National's total 2024 payroll tax expense for Walsh. 3. Make the journal entry to record National's expense for Walsh's total earnings for the year, his payroll deductions, and net pay. Debit Salaries Expense and Bonus Expense as appropriate. Credit liability accounts for the payroll deductions and Cash for net pay. An explanation is not required. 4. Make the journal entry to record the accrual of National's payroll tax expense for Walsh's total earnings. 5. Make the journal entry for the payment of the payroll withholdings and taxes. Larry Walsh is general manager of National Salons. During National incurred payroll tax expense on Walsh for 2024, Walsh worked for the company all year at a $14,700 FICA tax. The company also paid state monthly salary. He also earned a year-end bonus equal to unemployment tax and federal unemployment tax. 10% of his annual salary. Walsh's federal income tax withheld during 2024 was $3,234 per month, plus $3,881 on his bonus check. State income tax withheld came to $110 per month, plus $70 on the bonus. FICA tax was withheld on the annual earnings. Walsh authorized the following payroll deductions: Charity Fund contribution of 3% of total earnings and life insurance of $40 per month. Requirement 1. Compute Walsh's gross pay, payroll deductions, and net pay for the full year 2024. Round all amounts to the nearest dollar. Begin by computing Walsh's gross pay for the year. (Round all amounts to the nearest dollar.) Now compute Walsh's payroll deductions and net pay for the year. (Round all amounts to the nearest dollar.) Larry Walsh is general manager of National Salons. During 2024, Walsh National incurred payroli tax expense on Walsh for FICA tax. The worked for the company all year at a $14,700 monthly salary. He also earned company also paid state unemployment tax and federal a year-end bonus equal to 10% of his annual salary. Walsh's federal income unemployment tax tax withheld during 2024 was $3,234 per month, plus $3,881 on his bonus check. State income tax withheld came to $110 per month, plus $70 on the bonus. FICA tax was withheld on the annual earnings. Waish authorized the following payroll deductions: Charity Fund contribution of 3% of total eamings and life insurance of $40 per month Larry Walsh is general manager of National Salons. During 2024, Walsh National incurred payroll tax expense on Walsh for FICA tax. The worked for the company all year at a $14,700 monthly salary. He also earned company also paid state unemployment tax and federal a year-end bonus equal to 10% of his annual salary. Walsh's federal income unemployment tax. tax withheld during 2024 was $3,234 per month, plus $3,881 on his bonus check. State income tax withheld came to $110 per month, plus $70 on the bonus. FICA tax was withheld on the annual eamings. Walsh authorized the following payroll deductions: Charity Fund pontribution of 3% of total earnings and life insurance of $40 per month. Requirement 2. Compute National's total 2024 payroll tax expense for Walsh. (Round all amounts to the nearest dollar) Requirement 3. Make the journal entry to record National's expense for Walsh's total earnings for the year, his payroll deductions, and net pay. Debit Salaries Expense and Bonus Expense as appropriate. Credit lability accounts for the payroll deductons and Cash for net pay. An explanation is not required. (Record Larry Walsh is general manager of National Salons, During 2024, Walsh worked for the company all year at a $14,700 monthly salary. He also earned a year-end bonus equal to 10% of his annual salary. Walsh's federal income tax withheld during 2024 was $3,234 per month, plus $3,881 on his bonus check. State income tax withheld came to $110 per month, plus $70 on the bonus. FICA tax was withheld on the annual eamings. Walsh authorized the following payroll deductions: Charity Fund contribution of 3% of total earnings and life insurance of $40 per month. Requirement 3. Make the journal entry to record Nationai's expense for Walsh's total earnings for the year, his payroll deductions, and net pay. Debit Salaries Expense and Bonus Expense as appropriate. Credit liability accounts for the payroll deductions and Cash for net pay. An explanation is not required. (Record debits first, then credits. Exclude explanations from journal entries.) Larry Walsh is general manager of National Salons. During 2024, Walsh National incurred payroll tax expense on Walsh for FICA tax. The worked for the company all year at a $14,700 monthly salary. He also earned company also paid state unemployment tax and federal a yeaf-end bonus equal to 10% of his annual salafy. Walsh's federal income unemployment tax tax withheld during 2024 was $3,234 per month, plus $3,881 on his bonus (Click the icon to view payroll tax rate information.) check. State incorne tax withheld came to $110 per month, plus $70 on the bonus. FICA tax was withheld on the annual earnings. Walsh authorized the following payroll deductions: Charity Fund contribution of 3% of total earnings and life insurance of $40 per month. Requirement 4. Make the journal entry to record the acerval of National's payroll tax expense for Walsh's total earnings. (Record debits first, then credits. Exclude explanations from journal entries.) Requirement 5. Make the journal entry for the payment of the payroll withholdings and taxes. (Record debits first, then credits. Exclude explanations from journal entries.) Larry Walsh is general manager of National Salons. During 2024, Walsh National incurred payroll tax expense on Walsh for FICA tax. The worked for the company all year at a $14,700 monthly salary. He also earned a year-end bonus equal to 10% of his annual salary. Walsh's federal income tax withheld during 2024 was $3,234 por month, plus $3,881 on his bonus check. State income tax withheld came to $110 per month, plus $70 on the bonus. FICA tax was withheld on the annual earnings. Walsh authorized the following payroll deductions: Charity Fund contribution of 3% of total earnings and life insurance of $40 per month. Requirement 5. Make the joumal entry for the payment of the payroll withholdings and taxes. (Record debits first, then credits. Exclude explanations from ioumal entries.] More info For all payroll calculations, use the following tax rates and round amounts to the nearest cent: Employee: OASDI: 6.2% on first $132,900 earned; Medicare: 1.45% up to $200,000,2.35% on earnings above $200,000. Employer: OASDI: 6.2% on first $132,900 earned; Medicare: 1.45%; FUTA: 0.6% on first $7,000 earned; SUTA: 5.4% on first $7,000 earned. Requirements 1. Compute Walsh's gross pay, payroll deductions, and net pay for the full year 2024. Round all amounts to the nearest dollar. 2. Compute National's total 2024 payroll tax expense for Walsh. 3. Make the journal entry to record National's expense for Walsh's total earnings for the year, his payroll deductions, and net pay. Debit Salaries Expense and Bonus Expense as appropriate. Credit liability accounts for the payroll deductions and Cash for net pay. An explanation is not required. 4. Make the journal entry to record the accrual of National's payroll tax expense for Walsh's total earnings. 5. Make the journal entry for the payment of the payroll withholdings and taxes