The following monthly data are taken from Ramirez Company at July 31: Sales salaries, $580,000; Office salaries, $116,000; Federal income taxes withheld, $174,000; State income taxes withheld, $39,000; Social security taxes withheld, $43,152; Medicare taxes withheld, $10,092; Medical insurance premiums, $14,000; Life insurance premiums, $11,000; Union dues deducted, $8,000; and Salaries subject to unemployment taxes, $64,000. 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%

The following monthly data are taken from Ramirez Company at July 31: Sales salaries, $580,000; Office salaries, $116,000; Federal income taxes withheld, $174,000; State income taxes withheld, $39,000; Social security taxes withheld, $43,152; Medicare taxes withheld, $10,092; Medical insurance premiums, $14,000; Life insurance premiums, $11,000; Union dues deducted, $8,000; and Salaries subject to unemployment taxes, $64,000. 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. Req 1 and 2 Req 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% 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 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 72,084 43,152 10,092 Payroll taxes expense FICASocial sec. taxes payable FICAMedicare taxes payable State unemployment taxes payable Federal unemployment taxes payable Employee life insurance payable Employee medical insurance payable 3,456 384 6,600 8,400 Record entry Clear entry View general journal 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 Record the employer's benefit expense. Note: Enter debits before credits. General Journal Debit Credit Date July 31 Record entry Clear entry View general journal Journal entry worksheet Record the cash payment of all liabilities related to the July payroll. Note: Enter debits before credits. Date General Journal Debit Credit July 31 Record entry Clear entry View general journal