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please complete all 3 required parts. Problem 9-2A Entries for payroll transactions LO P2, P3 On January 8 , the end of the first weekly
please complete all 3 required parts.
Problem 9-2A Entries for payroll transactions LO P2, P3 On January 8 , the end of the first weekly pay period of the year, Regis Company's employees eamed $24,760 of ottice salaries and $70,840 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%,$12,760 of federal income taxes, $1,390 of medical insurance deductions, and $940 of union dues. No employee earned more than $7,000 in this first period. Required: 11 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 payroil 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 betow. 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 poid to each employee. The federal unemployment tax rate is 0.6%. (Round your answers to 2 decimal ploces Step by Step Solution
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