The following monthly data are taken from Ramirez Company at July 31: Sales salaries, $500,000; Office salaries, $100,000; Federal income taxes withheld, $150,000; State income taxes withheld, $33,500; Social security taxes withheld, $37,200; Medicare taxes withheld, $8,700; Medical insurance premiums, $12,000; Life insurance premiums, $9,000; Union dues deducted, $6,000; and Salaries subject to unemployment taxes, $60,000. The employee pays 40% of medical and life insurance premiums. Assume that FICA taxes are identical to those on employees and that SUTA taxes are 5.4% and FUTA taxes are 0.6%. 1. & 2. Using the above information, complete the below table and Prepare the journal entries to record accrued payroll and cash payment of the net payroll for July. 3. Using the above information, complete the below table. 4. Record the accrued employer payroll taxes and all other employer-paid expenses and the cash payment of all liabilities for July-assume that FICA taxes are identical to those on employees and that SUTA taxes are 5.4% and FUTA taxes are 0.6%

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% Paid by Employees Total Premium Paid Premium Paid by Employees by Employer Premium $ $12,000 40% $ Employee Medical Insurance Payable 4,800 7,200 $ $ 40% Employee Life Insurance Payable 9,000 3,600 5,400 Credit Date General Journal Debit Record journal entry for accrued payroll, including employee deductions, for July July 31 Sales salaries expense 500,000 Office salaries expense 100,000 Federal unemployment taxes payable 150,000 State unemployment taxes payable 33,500 FICA-Social sec. taxes payable 37,200 FICA-Medicare taxes payable 8,700 Employee medical insurance payable 4,800 Employee life insurance payable 3,600 Employee union dues payable 6,000 Salaries payable 356,200 Record the cash payment of salaries. July 31 Salaries payable 356,200 Cash 356,200 Amounts ax Tax Rate Tax Amount Subject to Tax $ 50,000 5.4% $ State Unemployment Taxes Payable 2,700 Federal Unemployment Taxes Payable $ $ 50,000 0.6% 300 2 1 Record all employer's payroll expenses and liabilitiess for the month of July Note: Enter debits before credits. Date General Journal Debit Credit July 31 Journal entry worksheet