The summary of the payroll for the monthly pay period ending July 15 indicated the following: Illustrate the effects on the accounts and the financial statements of the payroll. Employee FICA Tax includes social security tax and medicare tax withheld. Illustrate the effects on the accounts and the financial statements of the employer's payroll tax expense for the month. The state unemployment tax rate is 4.2%, and the federal unemployment tax rate is 0.8%. Only $30,000 of salaries are subject to unemployment taxes