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Mooney Labs had the following payroll for the week ended February 28 : Assumed tax rates are as follows: a. FICA. Social SeCunty, (employer) 6.2

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Mooney Labs had the following payroll for the week ended February 28 : Assumed tax rates are as follows: a. FICA. Social SeCunty, (employer) 6.2 percent (0.062) and (employee) 6.2 percent (0.062) on the first 5118,500 for each employee, and Medicare, 1.45 percent (0.0145) on all earnings for each employee. b. State unemployment tax, 5.4 percent (0.054) on the first $7,000 for each employee. c. Federal unemployment tax, 0.6 percent (0.006) on the first 57,000 for each employee. Q. FICA: Social Security, (employer) 6.2 percent (0.062) and (employee) 6.2 percent (0.062) on the first $118,500 for each employee, and Medicare, 1.45 percent (0.0145) on all earnings for each employee. b. State unemployment tax, 5.4 percent (0.054) on the first $7,000 for each employee. c. Federal unemployment tax, 0.6 percent (0.005) on the first $7,000 for each employee. Required: 1. Record the payroll entry as of february 28 in general journal form. If an amount box does not require an entry, leave it blank. If required, round your intermediate calculations and final answers to the nearest cent and use the rounded answers in subsequent computations. 2. Record the entry to record the employer's payroll taxes in general journal form as of February 28 assuming that the total payroll is subject to the FICA taxes (combined Social Security and Medicare) and that $5,810.00 is subject to unemployment taxes. If an amount box does not require an entry, leave it blank. If required, cound your intermediate calculations and final answers to the nearest cent and use the rounded answers in subsequent computations: 10 record employers snare or HISA raxes and empoyers shate and receral unemployment taxes. 3. Record the payment to the employees on March 2 in general joumal form. (Assume that the company has transferred cash to Cash-Payroll Bank Account for this payroll.) Round final answers to the nearest cent

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