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The following monthly data are taken from Ramirez Company at July 31: Sales salaries, $360,000: Office salaries. $72.000; Federal Income taxes withheld, $108.000: State Income
The following monthly data are taken from Ramirez Company at July 31: Sales salaries, $360,000: Office salaries. $72.000; Federal Income taxes withheld, $108.000: State Income taxes withheld, $24,000: Social security taxes withheld, $26.784; Medicare taxes withheld. $6.264: Medical Insurance premiums, $8.500: Life Insurance premiums. $5.500; Union dues deducted, $2,500: and Salaries subject to unemployment taxes. $53.000. 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% te 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 Complete this question by entering your answers in the tabs below. Req 1 and 2 Reg 3 Reg 4 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. Total Premium % Paid by Premium Paid Employees by Employees Premium Paid by Employer Employee Medical Insurance Payable Employee Life Insurance Payable General Journal Debit Date Credit Record journal entry for accrued payroll, including employee deductions, for July July 31 | Record the cash payment of salaries. July 31 Req 1 and 2 Req3 > Using the above information, complete the below table. Amounts Taste Tay Amount Subject to Tax Tax Rate Tax Amount State Unemployment Taxes Payable Federal Unemployment Taxes Payable Journal entry worksheet Record all employer's payroll expenses and liabilities for the month of July. Note: Enter debits before credits Date General Journal Debit Credit July 31 Recordantry Clear entry View general Journal
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