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On January 8, the end of the first weekly pay period of the year, Regis Company's employees earned $25,760 of office salaries and $60,840 of

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On January 8, the end of the first weekly pay period of the year, Regis Company's employees earned $25,760 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%, $13,460 of federal income taxes, $1.450 of medical insurance deductions, and $900 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 employee payroll experises and liabilities. 2. Prepare the journal entry to record Regis's employer payroll taxes resulting from the January 8 payroll. 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% Complete this question by entering your answers in the tabs below. Reg 1A Reg 16 Reg 2 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% (Round your answers to 2 decimal places) Regis Company's: January 8 Earnings Tax Rate Tax Amount Subject to Tax FICA Social Security FICA-Medicare Tax FUTA SUTA Record the employee payroll expenses and liabilities for the first weekly pay period of the year Note: Enter debits before credits. General Journal Debit Credit Date January 08 Record the employer's payroll expenses and liabilities for the first weekly pay period of the year. Note: Enter debits before credits. General Journal Date January 08 Debit Credit

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