The totals line from Nix Companys payroll register for the week ended March 31, 20 , is shown PAYROLL REGISTER FOR THE PERIOD ENDED March 31, 20 EARNINGS TAXABLE EARNINGS DEDUCTIONS NAME EMPLOYEE NUMBER ALLOWANCES MARIT STATUS REGULAR OVERTIME TOTAL CUM TOTAL UNEMPL COMP SOC SEC FED INC TAX SOC SEC TAX MEDICARE TAX HEALTH INSUR LIFE INSUR OTHER TOTAL NET PAY CK NO 21 Totals 5,400 00 100 00 5,500 00 71,500 00 5,000 00 5,500 00 500 00 341 00 79 75 165 00 200 00 1,285 75 4,214 25 21 Payroll taxes are imposed as follows Social Security tax, 6 2 Medicare tax, 1 45 FUTA tax, 0 6 and SUTA tax, 5 4 Required 1a Prepare the journal entry for payment of this payroll on March 31, 20 1b Prepare the journal entry for the employers payroll taxes for the period ended March 31, 20 2 Nix Company had the following balances in its general ledger before the entries for requirement (1) were made Employee federal income tax payable $2,500 Social Security tax payable 2,008 Medicare tax payable 470 FUTA tax payable 520 SUTA tax payable 4,510 a Prepare the journal entry for payment of the liabilities for federal income taxes and Social Security and Medicare taxes on April 15, 20 b Prepare the journal entry for payment of the liability for FUTA tax on April 30, 20 c Prepare the journal entry for payment of the liability for SUTA tax on April 30, 20 3 Nix Company paid a premium of $420 for workers compensation insurance based on the estimated payroll as of the beginning of the year Based on actual payroll as of the end of the year, the premium is only $400 Prepare the adjusting entry to reflect the overpayment of the insurance premium at the end of the year (December 31, 20 )

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The totals line from Nix Companys payroll register for the week ended March 31, 20--, is shown: PAYROLL REGISTER FOR THE PERIOD ENDED March 31,

The totals line from Nix Companys payroll register for the week ended March 31, 20--, is shown:

PAYROLL REGISTER FOR THE PERIOD ENDED March 31, 20--

EARNINGS

TAXABLE EARNINGS

DEDUCTIONS

NAME

EMPLOYEE NUMBER

ALLOWANCES

MARIT. STATUS

REGULAR

OVERTIME

TOTAL

CUM. TOTAL

UNEMPL. COMP.

SOC. SEC.

FED. INC. TAX

SOC. SEC. TAX

MEDICARE TAX

HEALTH INSUR.

LIFE INSUR.

OTHER

TOTAL

NET PAY

CK. NO.

Totals

5,400.00

100.00

5,500.00

71,500.00

5,000.00

5,500.00

500.00

341.00

79.75

165.00

200.00

1,285.75

4,214.25

Payroll taxes are imposed as follows: Social Security tax, 6.2%; Medicare tax, 1.45%; FUTA tax, 0.6%; and SUTA tax, 5.4%.

Required:

1a.	Prepare the journal entry for payment of this payroll on March 31, 20--.
1b.	Prepare the journal entry for the employers payroll taxes for the period ended March 31, 20--.

2.	Nix Company had the following balances in its general ledger before the entries for requirement (1) were made:

Employee federal income tax payable	$2,500
Social Security tax payable	2,008
Medicare tax payable	470
FUTA tax payable	520
SUTA tax payable	4,510

a.	Prepare the journal entry for payment of the liabilities for federal income taxes and Social Security and Medicare taxes on April 15, 20--.
b.	Prepare the journal entry for payment of the liability for FUTA tax on April 30, 20--.
c.	Prepare the journal entry for payment of the liability for SUTA tax on April 30, 20--.
3.	Nix Company paid a premium of $420 for workers compensation insurance based on the estimated payroll as of the beginning of the year. Based on actual payroll as of the end of the year, the premium is only $400. Prepare the adjusting entry to reflect the overpayment of the insurance premium at the end of the year (December 31, 20--).