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Name Arivilo, R. Baca, T. Eubanks, E. Ling, D. Metcalf, S. Quinn, D. Beginning Cumulative Earnings 10,650.00 38,820.00 111,155.00 6,750.00 31,670.00 48,961.00 Total Earnings 460.00
Name Arivilo, R. Baca, T. Eubanks, E. Ling, D. Metcalf, S. Quinn, D. Beginning Cumulative Earnings 10,650.00 38,820.00 111,155.00 6,750.00 31,670.00 48,961.00 Total Earnings 460.00 970.00 2,790.00 385.00 694.00 1,040.00 Deductions Federal Income State Income Tax Tax 9.00 1.80 82.00 16.40 494.09 98.82 1.00 40.00 8.00 92.00 18.40 .20 Assumed tax rates are as follows: a. FICA: Social Security, 6.2 percent for employee and employer (on the first $113,700), and Medicare, 1.45 percent on all earnings for each employee. State unemployment tax, 5.4 percent on the first $7,000 for each employee Federal unemployment tax, 0.6 percent on the first $7,000 for each employee. C. #Instructions: 1. Complete the payroll register. Payroll checks begin with Ck. No. 1234 in the payroll register. Prepare a general journal entry to record the payroll as of November 20. The company's general ledger contains a Salary Expense account and a Salaries Payable account. 3. Prepare a general journal entry to record the payroll taxes as of November 20. Chart of Accounts Employee Federal Income Tax Payable Employee State Income Tax Payable FICA Tax Payable - SS FICA Tax Payable - Medicare FUTA Tax Payable SUTA Tax Payable Salaries Payable Payroll Tax Expense Salary Expense Cash Name Arivilo, R. Baca, T. Eubanks, E. Ling, D. Metcalf, S. Quinn, D. Beginning Cumulative Earnings 10,650.00 38,820.00 111,155.00 6,750.00 31,670.00 48,961.00 Total Earnings 460.00 970.00 2,790.00 385.00 694.00 1,040.00 Deductions Federal Income State Income Tax Tax 9.00 1.80 82.00 16.40 494.09 98.82 1.00 40.00 8.00 92.00 18.40 .20 Assumed tax rates are as follows: a. FICA: Social Security, 6.2 percent for employee and employer (on the first $113,700), and Medicare, 1.45 percent on all earnings for each employee. State unemployment tax, 5.4 percent on the first $7,000 for each employee Federal unemployment tax, 0.6 percent on the first $7,000 for each employee. C. #Instructions: 1. Complete the payroll register. Payroll checks begin with Ck. No. 1234 in the payroll register. Prepare a general journal entry to record the payroll as of November 20. The company's general ledger contains a Salary Expense account and a Salaries Payable account. 3. Prepare a general journal entry to record the payroll taxes as of November 20. Chart of Accounts Employee Federal Income Tax Payable Employee State Income Tax Payable FICA Tax Payable - SS FICA Tax Payable - Medicare FUTA Tax Payable SUTA Tax Payable Salaries Payable Payroll Tax Expense Salary Expense Cash
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