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The following monthly data are taken from Ramirez Company at July 31: Sales salaries, $400,000: Office salaries, $80,000; Federal Income taxes withheld, $120,000. State income
The following monthly data are taken from Ramirez Company at July 31: Sales salaries, $400,000: Office salaries, $80,000; Federal Income taxes withheld, $120,000. State income taxes withheld $27000; Social security taxes withheld, $29.760, Medicare taxes withheld, $6,960, Medical insurance premiums, $9,500, Life Insurance premiums, $6,500, Union dues deducted, $3,500; and Salaries subject to unemployment taxes $55,000. 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% 182. 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%. Complete this question by entering your answers in the tabs below. Reg 1 and 2 Rega 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 % Paid by Premium Paid Prumlum Paid Premium Employees by Employees by Employer Employee Medical insurance Payable Employee Life Insurance Payable Date General Journal Debit Grade Recordjoumal entry for accrued payroll, including employee deductions for July July 31 Record the cash payment of salaries Juys As The following monthly data are taken from Ramirez Company at July 31: Sales salaries, $400,000 Office salaries, $80,000; Federal Income taxes withheld. $120,000, State income taxes withheld, $27,000; Social security taxes withheld, $29,760Medicare taxes withheld, $6,960: Medical insurance premiums. $9,500; Life insurance premiums, $6,500 Union dues deducted. $3,500; and Salaries subject to unemployment taxes. $55,000. 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%. Complete this question by entering your answers in the tabs below. Reg 1 and 2 Reg 3 Reg 4 Using the above information, complete the below table. erences Amounts Subject to Tax Tax Rate Tax Amount State Unemployment Taxes Payable Federal Unemployment Taxes Payable The following monthly data are taken from Ramirez Company at July 31: Sales salaries, $400,000, Office salaries, $80,000; Federal income taxes withheld, $120,000; State income taxes withheld, $27000, Social security taxes withheld, $29.760; Medicare taxes withheld $6,960, Medical insurance premiums, $9,500; Life insurance premiums, $6,500: Union dues deducted, $3,500; and Salar subject to unemployment taxes, $55,000. 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% Complete this question by entering your answers in the tabs below. Reg 1 and 2 Reg 3 Req 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% View transaction list Journal entry worksheet > 1 2 3 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 Record entry Clear entry View general Journal Rega
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