Stark Compony has five employees. Employees paid by the hour earn $10 per hour for the regular 40 hour workweek and $15 per hour beyond the 40 hours per week. Hourly employees are poid every two weeks, but salariod omployees are paid monthly on the last blweekly poyday of each month. FICA Soclal Security taxes are 6.2% of the first $137700 paid to each employee, and FiCA Medicare taxes are 1.45% of gross poy. FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to each employee. The company has a benefits plan that includes medical insurance, life insurance, and retirement funding for employees. Under this plan. employees must contribute 5% of their gross income as a paytoli withholding. which the company matches with double the amount. Foliowing is the partially completed payroll register for the biweekly perlod ending August 3t; which is the last payday of August. a. Complete this payrolt register by filing in all cells for the poy period ended August 31 Prepare the August 3 j journal entry to: b. Record the accrued blweeldy payrol and related liabilies for deductions. c. Record the employer's cash payment of the net payroll of part b. d. Aecord the employer's payroll taxes including the contribution to the benefits plan. e. Pay all liabilities (except for the net payrati in part c) for this biweeldy period. Complete this questien by entering your answers in the tabs below. Complete this payroli register by filing in all celis for the pay period ended August 31 . (Round your answers to 2 decimal places. Do not round your intermediate calculations:) Complete this question by entering your answers in the tabs below. Complete this poyroll register by filling in all cells for the pay period ended August 31 . (Round your answers to 2 decimat places. Do not round your iatermediate calculations.) Prepare the August 31 journal entry to: (Round your answers to 2 decimal places: Do not round your intermediate calculations.) b. Record the accrued biweekly payroll and related lliabilities for deductions. c. Record the employer's cash payment of the net payroll of part b. d. Record the employer's payroli taxes including the contribution to the benefits plan. e. Pay all liabilities (except for the net payroll in part c) for this biweekly period. Journal entry worksheet 5 Record the August 31 journal entry for the accrued biweekly payroll and related liabilities for deductions. Note: Enter Gebits before credits. Stark Compony has five employees. Employees paid by the hour earn $10 per hour for the regular 40 hour workweek and $15 per hour beyond the 40 hours per week. Hourly employees are poid every two weeks, but salariod omployees are paid monthly on the last blweekly poyday of each month. FICA Soclal Security taxes are 6.2% of the first $137700 paid to each employee, and FiCA Medicare taxes are 1.45% of gross poy. FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to each employee. The company has a benefits plan that includes medical insurance, life insurance, and retirement funding for employees. Under this plan. employees must contribute 5% of their gross income as a paytoli withholding. which the company matches with double the amount. Foliowing is the partially completed payroll register for the biweekly perlod ending August 3t; which is the last payday of August. a. Complete this payrolt register by filing in all cells for the poy period ended August 31 Prepare the August 3 j journal entry to: b. Record the accrued blweeldy payrol and related liabilies for deductions. c. Record the employer's cash payment of the net payroll of part b. d. Aecord the employer's payroll taxes including the contribution to the benefits plan. e. Pay all liabilities (except for the net payrati in part c) for this biweeldy period. Complete this questien by entering your answers in the tabs below. Complete this payroli register by filing in all celis for the pay period ended August 31 . (Round your answers to 2 decimal places. Do not round your intermediate calculations:) Complete this question by entering your answers in the tabs below. Complete this poyroll register by filling in all cells for the pay period ended August 31 . (Round your answers to 2 decimat places. Do not round your iatermediate calculations.) Prepare the August 31 journal entry to: (Round your answers to 2 decimal places: Do not round your intermediate calculations.) b. Record the accrued biweekly payroll and related lliabilities for deductions. c. Record the employer's cash payment of the net payroll of part b. d. Record the employer's payroli taxes including the contribution to the benefits plan. e. Pay all liabilities (except for the net payroll in part c) for this biweekly period. Journal entry worksheet 5 Record the August 31 journal entry for the accrued biweekly payroll and related liabilities for deductions. Note: Enter Gebits before credits
