Question
Selected information from the payroll register of Barbara's Stables for the week ended September 28, 20--, is as follows: Social Security tax is 6.2% on
Selected information from the payroll register of Barbara's Stables for the week ended September 28, 20--, is as follows: Social Security tax is 6.2% on the first $110,100 of earnings for each employee. Medicare tax is 1.45% of gross earnings, FUTA tax is 0.8%, and SUTA tax is 5.4% each on the first $7,000 of earnings.
Cumulative Pay | Current | Taxable Earnings | ||
Employee Name | Before Current Earnings | Gross Pay | Unemployment Compensation | Social Security |
Carlosi, Peggy | $ 84,240 | $2,350 | ||
Sanchez, Carmela | 81,900 | 2,100 | ||
Delaney, Roger | 109,800 | 3,320 | ||
Weitz, Alana | 6,300 | 1,100 | ||
Dunhill, Craig | 6,800 | 1,000 | ||
Bella, Stephen | 42,330 | 1,850 |
Calculate the amount of taxable earnings for unemployment and Social Security taxes, and prepare the journal entry to record the employer's payroll taxes as of September 28, 20--.
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