QUESTION:

Prepare the appropriate journal entries?

A $22 The payroll journal for the ABC Company on June 30th Shows the following: Stale Inc. Gross Wages Fed Inc Tax FICA Health Insurance Union Dues Net Pay Tax $400 S112 S25 S19 $9 $10 $225 $375 $105 SIS SIO S211 $360) $100 S17 SO S221 S4101 S26 S20 S12 S224 | Total S1.545 596 $12 SNI Other Information A) Assume that the FUTA rate is 5,8%, that is SUTA rate is 4.8% and that the full state rate can be used as a credit against the federal rate. B) Assume that all wages are subject to federal and state unemployment taxes and that all wages are subject to FIC taxes. Round to the nearest dallardo not include cents) SI21 S29 $74 REQUIRED a) Calculate the employer and employee liabilities. b) Prepare the appropriate journal entries. A $22 The payroll journal for the ABC Company on June 30th Shows the following: Stale Inc. Gross Wages Fed Inc Tax FICA Health Insurance Union Dues Net Pay Tax $400 S112 S25 S19 $9 $10 $225 $375 $105 SIS SIO S211 $360) $100 S17 SO S221 S4101 S26 S20 S12 S224 | Total S1.545 596 $12 SNI Other Information A) Assume that the FUTA rate is 5,8%, that is SUTA rate is 4.8% and that the full state rate can be used as a credit against the federal rate. B) Assume that all wages are subject to federal and state unemployment taxes and that all wages are subject to FIC taxes. Round to the nearest dallardo not include cents) SI21 S29 $74 REQUIRED a) Calculate the employer and employee liabilities. b) Prepare the appropriate journal entries