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The following monthly data are taken from Ramirez Company at July 31: Sales salaries. $200,000; Ofce salaries, $160.000; Federal income taxes withheld. $90,000: State income taxes withheld, $20.000; Social security taxes with held. $22320; Medicare taxes withheld, $5,220; Medical insurance premiums. $7.000; Life insurance premiums, $4.000; Union dues deducted, $1.000; and Salaries subject to unemployment taxes, $50.000. The employee pays 40% of medical and life insurance premiums. Assume that FICA taxes are identical to those on employees and that SUTA taxes are 5.4% and FUTA taxes are 0.6%. 1&2. Using the above information. complete the below table and Prepare the journal entries to record accrued payroll and cash payment of the net payroll for July. 3. Using the above information. complete the below table. 4. Record the accrued employer payroll taxes and all other employer-paid expenses and the cash payment of all liabilities for July- assume that FICA taxes are identical to those on employees and that SUTA taxes are 5.4% and FUTA taxes are 0.6% 0 Answer is not complete. Complete this question by entering your answers in the tabs below. Reg 1 and 2 Req 3 Req 4 Using the abmre information. complete the below table. State Unemployment Taxes Payable Federal Unemployment Taxes Payable The following monthly data are taken from Ramirez Company at July 31: Sales salaries, $200,000; Ofce salaries, $160,000; Federal income taxes withheld. $90,000: State income taxes withheld, $20,000; Social security taxes withheld. $22,320; Medicare taxes withheld, $5,220; Medical insurance premiums, $7,000; Life insurance premiums, $4,000; Union dues deducted, $1,000; and Salaries subject to unemployment taxes, $50,000. The employee pays 40% of medical and life insurance premiums. Assume that FICA taxes are identical to those on employees and that SUTA taxes are 5.4% and FUTA taxes are 0.6%. 1&2. Using the above information. complete the below table and Prepare the journal entries to record accrued payroll and cash payment of the net payroll for July. 3. Using the above information, complete the below table. 4. Record the accrued employer payroll taxes and all other employerpaid expenses and the cash payment of all liabilities for July- assume that FICA taxes are identical to those on employees and that SUTA taxes are 5.4% and FUTA taxes are 0.6% 9 Answer is not complete. Complete this question by entering your answers in the tabs below. Reg 1 and 2 Req 3 Record the accrued employer payroll taxes and all other employerrpaid expenses and the cash payment of all liabilities for July-assume that FICA taxes are identical to those on employees and that SUTA taxes are 5.4% and FUTA taxes are 0.6%
