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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

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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%, $12,660 of federal income taxes. $1.400 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 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%. 1.2 Prepare the journal entry to record Regis Company's January 8 employee payroll expenses 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 1B 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: Tax January 8 earnings Tax Rate Tax Amount subject to tax FICA-Social Security FICA-Medicare FUTA SUTA 14 of 18 Next >

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