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Maria Strand's regular hourly wage rate is $20, and she receives an hourly rate of $30 for work in excess of 40 hours. During a

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Maria Strand's regular hourly wage rate is $20, and she receives an hourly rate of $30 for work in excess of 40 hours. During a January pay period, Maria works 47 hours. Maria's federal income tax withholding is $88, and she has no voluntary deductions Assume that the FICA tax rate is 7.65%. Prepare a tabular summary to record the employer's payroll taxes for the period. Assume that the FICA tax rate is 7.65%. Ignore unemployment taxes. Include margin explanations for the changes in revenues and expenses. (Round answers to 2 decimal places, es. 15.25. If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign for parentheses) in front of the amount entered for the particular Asset, Liability or Equity Item that was reduced.) Assets Liabilities Cash Salaries & Wages Pay. + Fed. Inc. Taxes Pay. + FICA Taxes Jan, 15 $ $ $ $ Maria Strand's regular hourly wage rate is $20, and she receives an hourly rate of $30 for work in excess of 40 hours. During a January pay period, Maria works 47 hours. Maria's federal income tax withholding is $88, and she has no voluntary deductions. Assume that the FICA tax rate is 7.65%. Prepare a tabular summary to record the employer's payroll taxes for the period. Assume that the FICA tax rate is 7.65%. Ignore unemployment taxes. Include margin explanations for the changes in revenues and expenses. (Round answers to 2 decimal places, es 15.25. If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign for parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Stockholders' Equity Retained Earnings Revenue Expense Dividend Sales revenue Interest expense Ticket revenue Payroll tax expense e Textbook and Media

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