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Thank you! Problem 9-2A Entries for payroll transactions LO P2, P3 2.5 On January 8, the end of the first weekly pay period of the

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Problem 9-2A Entries for payroll transactions LO P2, P3 2.5 On January 8, the end of the first weekly pay period of the year, Regis Company's payroll register showed that its employees earned $27,760 of office salaries and $60,840 of sales salaries. Withholdings from the employees' salaries include FICA Social Security taxes points at the rate of 6.20%, FICA Medicare taxes at the rate of 1.45%, $13,560 of federal income taxes, $1,440 of medical insurance deductions, and $940 of union dues. No employee earned more than $7,000 in this first period. Required: Book 1a. Calculate below the amounts for each of these four taxes of Regis Company. Regis's merit rating reduces its state unemployment tax rate to 4% of the first $7,000 paid each employee. The federal unemployment tax rate is 2%. 1b. Prepare the journal entry to record Regis Company's January 8 (employee) payroll expenses and liabilities. Print 2. Prepare the journal entry to record Regis's (employer) payroll taxes resulting from the January 8 payroll. Regis's merit rating reduces its state unemployment tax rate to 4% of the first $7,000 paid each employee. The federal unemployment tax rate is 2%. References Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 2 Calculate below the amounts for each of these four taxes of Regis Company. Regis's merit rating reduces its state unemployment tax rate to 4% of the first $7,000 paid each employee. The federal unemployment tax rate is 2%. (Round- your answers to 2 decimal places.) Regis Company's: Tax January 8 earnings subject to tax Tax Rate Tax Amount FICA-Social Security FICA-Medicare FUTA SUTA Mc Graw Hill .

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