On January 8, the end of the first weekly pay period of the year, Regis Company's employees earned $26,760 of office salaries and $60,840 of sales salaries. Withholdings from the employees' salaries include FICA Social Security taxes at the rate of 6.2%, FICA Medicare taxes at the rate of 1.45%, $13,060 of federal income taxes, $1,330 of medical insurance deductions, and $960 of union dues. No employee earned more than $7.000 in this first period.


Required:

1-a. Calculate below the amounts for each of these four taxes of Regis Company. Regis's state unemployment tax rate is 5.4% of the first $7,000 paid to each employee. The federal unemployment tax rate is 0.6% .

1-b. Prepare the journal entry to record Regis Company's January 8 eployee payrollexpenses and fiabilities.

2. Prepare the journal entry to record Regis's employer payroll taxes resulting from(the January 8payroll. Regis's state unemployment tax rate is 5.4% of the first $7,000 paid to each employee. The federal unemployment tax rate is 0.6%.

View transaction list View journal entry worksheet BE No General Joumal Debit Credit Date January 08 1 26,760.00 60.840.00 Office salaries expense Sales salaries expense FICA-Social security taxes payable FICA-Medicare taxes payable Employee federal income taxes payable Employee medical insurance payable Employee union dues payable Salarles payable 5,431 20 1.270.20 13,060 00 1,330 00 960.00 87.600.00 View transaction list ok Journal entry worksheet int