Len Wisce is geceral manager of Wortswide Salont. During 20e4, Wison worked for the company all year at a 512,200 monithy salary. He also eiened a ye 3 end bonus equar to month, plis $40 on the bonus. Fich tax was witheld on the ahtusl eamings Wison tuthorized the following peyrol deductions charly Find contrbution of 2% of total earings and ine inturance of 850 per month. Requirement 1. Compuse Wison's grost pay, payrol deductens, and net poy for the full year 2024. Round al amourts to the nearest dollar. Begin by computing Wisonis gross pay for the yeer. (Round all asoounts to teve nobrest dobar.) Now compute Wisoris paprol deductions and net pay lor the year. (Round all arnounts to the neavest doriaf.) Worldwide incurred payroll tax expense on Wilson for FICA tax. The company aiso paid slate unempioyment ta federal unemployment tax. (Click the icon to view payroll tax rate information.) Read the requirements. Requirements 1. Compute Wilson's gross pay, payroll deductions, and net pay for the full year 2024. Round all amounts to the nearest dollar. 2. Compute Worldwide's total 2024 payroll tax expense for Wilson. 3. Make the journal entry to record Worldwide's expense for Wilson'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 Worldwide's payroll tax expense for Wilson's total earnings. 5. Make the journal entry for the payment of the payroll withholdings and taxes. 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: OASD: 6.2% on first $132,900 eamed; Medicare: 1.45\%; FUTA: 0.6% on first $7,000 earned; SUTA: 5,4% on first $7,000 eamed