March Payroll - 03/25-03/31

Name Hours Hourly Gross Pay FedWithh SS Medi Net

John Doe 40 $25.00 $1,000.00 $200.00 $62.00 $14.50 $723.50

Jane Jones 40 $24.00 $960.00 $192.00 $59.52 $13.92 $694.56

Jessie Smith 40 $17.00 $680.00 $136.00 $42.16 $9.86 $491.98

Erik Ackers 25 $15.00 $375.00 $75.00 $23.25 $5.44 $271.31

Nan Schmit 30 $17.00 $510.00 $102.00 $31.62 $7.40 $368.99

Larry Johnson 35 $18.00 $630.00 $126.00 $39.06 $9.14 $455.81

Christopher Hay 40 $18.00 $720.00 $144.00 $44.64 $10.44 $520.92

Totals 250 $134.00 $4,875.00 $975.00 $302.25 $70.69 $3,527.06

Assume Federal Income Tax will be withheld at a rate of 20% for everyone.

FICA Social Security rate is 6.2% and Medicare is 1.45%.

When you called your State, they told you that your State Unemployment tax rate would be 5.4%.

Recall that the Federal Unemployment rate is the same for all businesses.

Assume that no employee has reached the wage limits for FUTA, SUTA or Social Security.

Record accrued payroll for March 25 through March 31 using the Payroll Report

Record employer payroll taxes for the same Payroll Report (hint - remember to record FUTA and SUTA as well)

Record payment of cash to employees.

Part of assignment Im having problems with:

Journal Entries
Date	Account Title	Debit	Credit
3/31/2021