PROBLEM IY: PREPARING THE PAYR Using the information below, determine the pay the prepare the payrollator for Brooks Com ARING THE "PAYROLL ENTRY CLO POINTS Assume the following ne the payroll uks Company for the current payroll period calentay ding November 1 Federal Income Tax is 20% of gross pay 12) State Income Tax is 5% of gross pay 13] FICA Tax Sosial Secu CA Tax - Social Security Tax is 62 WageCap-5122,700. FICA Tax - Medicare 14 NO WAGE CAP P Each cmployee contributes $20 per day period for union dues C ute Grosse (Harings) Prior Employee Current Period S S 122,000 110,000 Current Period Gross Pay $ 1,000 S 900 Part 1: Calculate the payroll de ductions withholdings GROSS PAY (CURRENT PAY PERIOD): (1) Calculate Federal Income Tax (2) Calculate State Income Tax = (3) Calculate FICA-Social Security (4) Calculate FICA-Medicare (5) Calculate Union Dues = NET PAY (CURRENT PAY PERIOD): Part 2: Record the Payroll Entry - Journal Entry to Record Payroll Expense of the Employer GENERAL JOURNAL DATE ACCOUNT NAME & DESCRIPTION DEBIT CREDIT To record payroll for the pay period ending 11/30/xx Page 5