On January 8, the end of the first weekly pay period of the year, Regis Company's employees earned $24,760 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%, $12,760 of federal income taxes, $1,360 of medical insurance deductions, and $920 of union dues. No employee earned more than $7,000 in this first period. Required: 1.1 Calculate below the amounts for each of these four taxes of Regis Company. Regiss state unemployment tax rate is 5.4% of the first $7,000 paid to each employee. The federal unemployment tax rate is 0.6%. 1.2 Prepare the journal entry to record Regis Company's January 8 employee payroll expenses and liabilities. 2. Prepare the journal entry to record Regiss employer payroll taxes resulting from the January 8 payroll. Regiss state unemployment tax rate is 5.4% of the first $7,000 paid to each employee. The federal unemployment tax rate is 0.6%.

• Req 1A
• Req 1B
• Req 2

Calculate below the amounts for each of these four taxes of Regis Company. Regiss state unemployment tax rate is 5.4% of the first $7,000 paid to each employee. The federal unemployment tax rate is 0.6%. (Round your answers to 2 decimal places.)

req 1a

Regis Companys:
Tax	January 8 earnings subject to tax	Tax Rate	Tax Amount
FICASocial Security	$5,307	5,307.20%	281,653.10
FICAMedicare
FUTA
SUTA

• Req 1B

Prepare the journal entry to record Regis Company's January 8 employee payroll expenses and liabilities. (Round your answers to 2 decimal places.)

No	Date	General Journal	Debit	Credit
1	Jan 08	Office salaries expense	24,760.00
		Sales salaries expense	60,840.00
		FICASocial sec. taxes payable		5,307.20
		FICAMedicare taxes payable		1,241.20
		Employee fed. inc. taxes payable
		Employee medical insurance payable
		Employee union dues payable
		Salaries payable

Rec B

Prepare the journal entry to record Regiss employer payroll taxes resulting from the January 8 payroll. Regiss state unemployment tax rate is 5.4% of the first $7,000 paid to each employee. The federal unemployment tax rate is 0.6%. (Round your answers to 2 decimal places.)

No	Date	General Journal	Debit	Credit
1	Jan 08	Payroll taxes expense
		FICASocial sec. taxes payable
		FICAMedicare taxes payable
		Federal unemployment taxes payable
		State unemployment taxes payable