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Need help with all parts. More Info For all payroll calculations, use the following tax rates and round amounts to the nearest cent Employee OASDI:

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Need help with all parts.

More Info For all payroll calculations, use the following tax rates and round amounts to the nearest cent Employee OASDI: 6.2% on first $118,500 earned: Medicare: 1.45% up to $200,000, 2.35% on earnings above $200,000. Employer: OASDI: 6.2% on first $118,500 earned per employee; Medicare: 1.45% on all earnings: FUTA: 0.6% on first $7,000 eamed per employee; SUTA: 5.4% on first $7,000 earned per employee. Print Done Axel's Mexican Restaurant incurred salaries expense of $63,000 for 2018. The payroll expense includes employer FICA tax, in addition to state unemployment tax and federal unemployment tax. Of the total salaries, $14.000 is subject to unemployment tax. Also, the company provides the following benefits for employees: health insurance (cost to the company, $2,000), life insurance (cost to the company, $390), and retirement benefits (cost to the company, 8% of salaries expense). (Click the icon to view payroll tax rate information.) Read the requirements Requirement 1. Journalize Axel's expenses for employee benefits and for payroll taxes. Explanations are not required. Begin with the entry to accrue Axel's employer payroll taxes. (Round all amounts to the nearest cent. Record debits first, then credits. Exclude explanations from journal entries.) Date Accounts Debit Credit Payroll Tax Expense FICA-Medicare Taxes Payable FICA-OASDI Taxes Payable State Unemployment Taxes Payable Federal Unemployment Taxes Payable

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