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Lee Financial Services pays employees monthly Payroll Information is listed below for January 2018, the first month of Lee's fiscal year, Assume that none of

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Lee Financial Services pays employees monthly Payroll Information is listed below for January 2018, the first month of Lee's fiscal year, Assume that none of the employees exceeded any relevant wage base. Salaries federal income taxes to be withheld Federal unemployment tax rate State neployment tax rate (after FUTA deduction) Social security tax rate Medicare tax rate $630,000 125,000 0.0 5.40% 6201 Required: Calculate the income and payroll taxes for the January 2018 pay period. Prepare the appropriate journal entries to record salaries and wages expense (not paid) and payroll tax expense for the January 2018 pay perlod Complete this question by entering your answers in the tabs below. Payroll Tax General Journal Calculate the income and payroll taxes for the January 2018 pay period. Amount withheld from Amount paid by employees' gross pay employer Federal income taxes to be withheld Social Security (6 2003 Medicare (1453) taxiste Federal unemployment State unemployment Total 0 5 General Journal > Journal entry worksheet Record salaries and wage expense for January 2018 pay period. Note: Enter debits before credits, Event General Journal Debit Credit Record entry Clear entry View general journal

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