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PLEASE ANSWER THESE RIGHT THEY ARE ALL ONE QUESTION! On January 8 , the end of the first weekly pay period of the year, Regis
PLEASE ANSWER THESE RIGHT THEY ARE ALL ONE QUESTION!
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%,$13,360 of federal income taxes, $1,320 of medical insurance deductions, and $820 of union dues. No empioyee earned more than $7,000 in this first period. Required: 1-3. 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 expenses and liabilities. 2. Prepare the journal entry to record Regis's omployor 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. 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%. Note: Round your answers to 2 decimal places. repare the journal entry to record Regis Company's January 8 employee payroll expenses and liabilities. Note: Round your answers to 2 decimal places. Journal entry worksheet Record the employee payroll expenses and liabilities for the first weekly pay period of the year. Note: Enter debits before credits. repare the journal entry to record Regis's employer payroll taxes resulting from the January 8 payroll, Regis's state unemployment tax ate is 5,4% of the first $7,000 paid to each employee. The federal unemployment tax rate is 0.6%. Note: Round your answers to 2 decimal places. Journal entry worksheet Record the employer's payroll expenses and liabilities for the first weekly pay period of the year. Nestm: Erter debis before credts Step by Step Solution
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