On January 8, the end of the first weekly pay period of the year, Regis Companys payroll register showed that its employees earned $22,760 of office salaries and $65,840 of sales salaries. Withholdings from the employees salaries include FICA Social Security taxes, FICA Medicare taxes, $12,860 of federal income taxes, $1,340 of medical insurance deductions, and $840 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. (Round your answers to 2 decimal places.)

Regis Companys:
Tax	January 8 earnings subject to tax	Tax Rate (%)	Tax Amount
FICA-Social Security
FICA-Medicare
FUTA
SUTA

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1.2

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

Transaction Index :

Record the payroll expenses and liabilities for the first weekly pay period of the year.

Note: Enter debits before credits.

Date

General Journal

Debit

Credit

Jan. 08

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2.

Prepare the journal entry to record Regiss (employer) payroll taxes resulting from the January 8 payroll. (Round your answers to 2 decimal places.)

Record the employers payroll expenses and liabilities for the first weekly pay period of the year.

Note: Enter debits before credits.

Date

General Journal

Debit

Credit

Jan. 8

This is all one long question.