Logan White is general manager of United Salons. During 2024, White worked for the company all year at a $11,800 monthly salary. He also earned a year-end bonus equal to 15% of his annual salary. White's federal income tax withheld during 2024 was $1,416 per month, plus $2,549 on his bonus check. State income tax withhold came to $60 per month plus $40 on the bonus, FICA tax was withhold on the annual earnings. White authorized the following payroll deductions: Charity Fund contribution of 2% of total earnings and life insurance of $40 per month United incurred payroll tax expense on White for FICA tax. The company also paid state unemployment tax and federal unemployment tax. (Click the icon to view payroll tax rate information) Read the requirements. Question Viewer -X i 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. 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. Employer: id Print Done Requirement 1. Compute White's gross pay, payroll deductions, and net pay for the full year 2024. Round all amounts to the nearest dollar Begin by computing White's gross pay for the year. (Round all amounts to the nearest dollar) G Gross pay Gross Pay Now compute White's payroll deductions and net pay for the year. (Round all amounts to the nearest dollar.) Net pay Withholding deductions: Withholding deductions: Net (take-home) pay Requirement 2. Compute United's total 2024 payroll tax expense for White. (Round all amounts to the nearest dollar.) Employer Payroll Taxes Total Employer Payroll Tax Total Payroll Expense Requirement 3. Make the journal entry to record United's expense for White'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.) Date Accounts Debit Credit id for United incurred payroll tax expense on White for FICA tax. The company also pal state unemployment tax and federal unemployment tax during Click the icon to view payroll tax rate information.) ax Read the requirements ty yld on Logan Wh Bonus Expense the compa bonus equ Cash 2024 was Charity Fund Payable withheld Employee Federal Income Taxes Payable the annual Fund cont Employee State Income Taxes Payable Tulcsray Federal Unemployment Taxes Payable FICA-Medicare Taxes Payable Requirem FICA-OASDI Taxes Payable and Bonus credits. Ex Life Insurance Payable Payroll Tax Expense Date Salaries Expense State Unemployment Taxes Payable s total earnings for the year, his payroll deductions, and net pay. Debit Salaries Expense ductions and Cash for net pay. An explanation is not required. (Record debits first, then Debit Credit Requirement 4. Make the journal entry to record the accrual of United's payroll tax expense for White's total earnings. (Record debits first, then credits. Exclude explanations from journal entries.) Date Accounts Debit Credit Requirement 5. Make the journal entry for the payment of the payroll withholdings and taxes. (Record dobits first, then credits. Exclude explanations from joumal entries.) Date Accounts Debit Credit
