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Please answer all parts of the question and follow the same format. The following monthly data are taken from Ramirez Company at July 31: Sales
Please answer all parts of the question and follow the same format.
The following monthly data are taken from Ramirez Company at July 31: Sales salaries, $480,000; Office salaries, $96,000; Federal income taxes withheld, $144,000; State income taxes withheld, $32,000; Social security taxes withheld, $35,712; Medicare taxes withheld, $8,352; Medical insurance premiums, $11,500; Life insurance premiums, $8,500; Union dues deducted, $5,500; and Salaries subject to unemployment taxes, $59,000. The employee pays 40% of medical and life insurance premiums. Assume that FICA taxes are identical to those on employees and that SUTA taxes are 5.4% and FUTA taxes are 0.6%. 1. & 2. Using the above information, complete the below table and prepare the journal entries to record accrued payroll, including employee deductions, and cash payment of the net payroll (salaries payable) for July. 3. Using the above information, complete the below table. 4. Record the accrued employer payroll taxes and other related employment expenses and the cash payment of all liabilities related to the July payroll-assume that FICA taxes are identical to those on employees and that SUTA taxes are 5.4% and FUTA taxes are 0.6%. Complete this question by entering your answers in the tabs below. Req 1 and 2 Reg 3 Reg 4 Using the above information, com Red..he below table and prepare the journal entries to record accrued payroll, including Req 4 employee deductions, and cash payment of the net payroll (salaries payable) for July. Total % Paid by Premium Paid Premium Employees by Employees Premium Paid by Employer Employee Medical Insurance Payable Employee Life Insurance Payable Date General Journal Debit Credit Record journal entry for accrued payroll, including employee deductions, for July. July 31 The following monthly data are taken from Ramirez Company at July 31: Sales salaries, $480,000; Office salaries, $96,000; Federal income taxes withheld, $144,000; State income taxes withheld, $32,000; Social security taxes withheld, $35,712; Medicare taxes withheld, $8,352; Medical insurance premiums, $11,500; Life insurance premiums, $8,500; Union dues deducted, $5,500; and Salaries subject to unemployment taxes, $59,000. The employee pays 40% of medical and life insurance premiums. Assume that FICA taxes are identical to those on employees and that SUTA taxes are 5.4% and FUTA taxes are 0.6%. 1. & 2. Using the above information, complete the below table and prepare the journal entries to record accrued payroll, including employee deductions, and cash payment of the net payroll (salaries payable) for July. 3. Using the above information, complete the below table. 4. Record the accrued employer payroll taxes and other related employment expenses and the cash payment of all liabilities related to the July payroll-assume that FICA taxes are identical to those on employees and that SUTA taxes are 5.4% and FUTA taxes are 0.6%. Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Reg 4 Using the above information, complete the below table. Tax Amounts Subject to Tax Tax Rate Tax Amount State Unemployment Taxes Payable Federal Unemployment Taxes Payable The following monthly data are taken from Ramirez Company at July 31: Sales salaries, $480,000; Office salaries, $96,000; Federal income taxes withheld, $144,000; State income taxes withheld, $32,000; Social security taxes withheld, $35,712; Medicare taxes withheld, $8,352; Medical insurance premiums, $11,500; Life insurance premiums, $8,500; Union dues deducted, $5,500; and Salaries subject to unemployment taxes, $59,000. The employee pays 40% of medical and life insurance premiums. Assume that FICA taxes are identical to those on employees and that SUTA taxes are 5.4% and FUTA taxes are 0.6%. 1. & 2. Using the above information, complete the below table and prepare the journal entries to record accrued payroll, including employee deductions, and cash payment of the net payroll (salaries payable) for July. 3. Using the above information, complete the below table. 4. Record the accrued employer payroll taxes and other related employment expenses and the cash payment of all liabilities related to the July payroll-assume that FICA taxes are identical to those on employees and that SUTA taxes are 5.4% and FUTA taxes are 0.6%. Complete this question by entering your answers in the tabs below. Req 1 and 2 Req3 Req 4 Record the accrued employer payroll taxes and other related employment expenses and the cash payment of all liabilities related to the July payroll-assume that Federal Insurance Contributions Act (FICA) taxes are identical to those on employees and that State Unemployment Taxes (SUTA) are 5.4% and Federal Unemployment Taxes (FUTA) are 0.6%. View transaction list Journal entry worksheet Record all employer's payroll expenses and liabilities for the month of July. The following monthly data are taken from Ramirez Company at July 31: Sales salaries, $480,000; Office salaries, $96,000; Federal income taxes withheld, $144,000; State income taxes withheld, $32,000; Social security taxes withheld, $35,712; Medicare taxes withheld, $8,352; Medical insurance premiums, $11,500; Life insurance premiums, $8,500; Union dues deducted, $5,500; and Salaries subject to unemployment taxes, $59,000. The employee pays 40% of medical and life insurance premiums. Assume that FICA taxes are identical to those on employees and that SUTA taxes are 5.4% and FUTA taxes are 0.6%. 1. & 2. Using the above information, complete the below table and prepare the journal entries to record accrued payroll, including employee deductions, and cash payment of the net payroll (salaries payable) for July. 3. Using the above information, complete the below table. 4. Record the accrued employer payroll taxes and other related employment expenses and the cash payment of all liabilities related to the July payroll-assume that FICA taxes are identical to those on employees and that SUTA taxes are 5.4% and FUTA taxes are 0.6%. Complete this question by entering your answers in the tabs below. Req 1 and 2 Req3 Reg 4 Record the accrued employer payroll taxes and other related employment expenses and the cash payment of all liabilities related to the July payroll-assume that Federal Insurance Contributions Act (FICA) taxes are identical to those on employees and that State Unemployment Taxes (SUTA) are 5.4% and Federal Unemployment Taxes (FUTA) are 0.6%. View transaction list Journal entry worksheet Record the employer's benefit expense. subject to unemployment taxes, $59,000. The employee pays 40% of medical and life insurance premiums. Assume that FICA taxes are identical to those on employees and that SUTA taxes are 5.4% and FUTA taxes are 0.6%. 1. & 2. Using the above information, complete the below table and prepare the journal entries to record accrued payroll, including employee deductions, and cash payment of the net payroll (salaries payable) for July. 3. Using the above information, complete the below table. 4. Record the accrued employer payroll taxes and other related employment expenses and the cash payment of all liabilities related to the July payroll-assume that FICA taxes are identical to those on employees and that SUTA taxes are 5.4% and FUTA taxes are 0.6%. Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Req 4 Record the accrued employer payroll taxes and other related employment expenses and the cash payment of all liabilities related to the July payroll-assume that Federal Insurance Contributions Act (FICA) taxes are identical to those on employees and that State Unemployment Taxes (SUTA) are 5.4% and Federal Unemployment Taxes (FUTA) are 0.6%. View transaction list Journal en worksheet Record the cash payment of all liabilities related to the July payroll. Note: Enter debits before credits. Date General Journal Debit Credit July 31Step by Step Solution
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