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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%.

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. image text in transcribed

3. Using the above information, complete the below table.

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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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Req 1 and 2 Req3 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 Premium Paid Premium Employees by Employees by Employer Employee Medical Insurance Payable Employee Life Insurance Payable Date General Journal Debit 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 Req 4 Using the above information, complete the below table. Tax Amounts 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 Journal entry worksheet

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