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The following monthly data are taken from Ramirez Company at July 3 1 : Sales salarles, $ 3 4 0 , 0 0 0 ;

The following monthly data are taken from Ramirez Company at July 31 : Sales salarles, $340,000; Office salarles, $68,000; Federal
Income taxes withheld, $102,000; State Income taxes withheld, $23,000; Soclal securlty taxes withheld, $25,296; Medicare taxes
withheld, $5,916; Medical Insurance premlums, $8,000; Life Insurance premlums, $5,000; Union dues deducted, $2,000; and Salarles
subject to unemployment taxes, $52,000. The employee pays 40% of medical and life insurance premlums. Assume that FICA taxes
are identical to those on employees and that SUTA taxes are 5.4% and FUTA taxes are 0.6%.
& 2. Using the above information, complete the below table and prepare the journal entrles to record accrued payroll, including
employee deductions, and cash payment of the net payroll (salarles payable) for July.
Using the above Information, complete the below table.
Record the accrued employer payroll taxes and other related employment expenses and the cash payment of all liabilitles related to
the July payroll-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.
Req 1 and 2
Using the above information, complete the below table and prepare the journal entries to record accrued payroll, including
employee deductions, and cash payment of the net payroll (salaries payable) for July.
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