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Please help me journal this question, thank you in advanced D E F G I A B 1 Problem 1 The payroll register for Star
Please help me journal this question, thank you in advanced
D E F G I A B 1 Problem 1 The payroll register for Star Express & Company for the pay period ended January 31 showed the following: 2 Total Earnings 834,000 w 4 Taxable Earnings: Keep in mind that taxable earnings means the portion of earnings that are subject to tax. These are not the tax amounts themselves. 5 FUTA 108,000.00 6 654,000.00 SUTA 7 Social Security 787,000.00 co O 11 Deductions: 10 These are the tax amounts deducted from employee pay. 129,600.00 Federal income tax Social Security tax 48,794.00 12 Medicare tax 12,093.00 13 Pension plan (Pension Plan Payable) 38,450.00 Health insurance (Health Insurance Payable) 23,400.00 15 United Way (United Way Payable) 16,000.00 The Social Security tax rate is 6.2%, Medicare tax is 1.45%, FUTA tax is 0.6%, and SUTA tax is 2.3%. 14 16 17 18 Prepare journal entries to record the following: 19 1. The payroll on Jan. 31. 20 2. The employer's payroll tax expense on Jan. 31. 21 3. The payment to employees on Feb. 3. TE MC P1 P1 Template P2 + A D E F G . 1 Problem 1 Template You should have 3 journal entries, no more, no less. Don't forget to make sure total debits = total credits for each journal entry. 3 Date Debit Credit 2. 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25Step by Step Solution
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