TKSC Company has one employee, Reba Shas, FICA Social Security taxes are 6.2% of the first $117 of gross pay. For TKSC, its FUTA takes are .6% and SUTA taxes are 2.9% of the first $7,000 paid to its employee.

AC2760 - Week 5 Assignment "Helpful hints" to begin the assignment: - Read the assigned chapters and watch the content review for this week. - Enter the appropriate amount or item into the shaded cells. - Use the drop-down list toe the right of the cell to enter the account description box. - The cell block will change to red if the answer is incorrect. - Answer the questions you know first; then move to the items that are more challenging. - Do not wait until the last minute to begin the assignment as you may find that you need to obtain Instructor or - Important for support: If you need assistance, contact your Instructor or Academic coach immediately. - Important for you time management: Your assignment is due Sunday at 11:59pm (Eastern Time). Instructions for Part One TKSC Company has one employee, Reba Shas. FICA Social Security taxes are 6.2% of the first $117,000 paid to its employee, an of gross pay. For TKSC, its FUTA taxes are .6% and SUTA taxes are 2.9% of the first $7,000 paid to its employee. Reba Shas' pay: Gross pay through August Gross pay for September $6,880 $860 First, calculate the tax amount for FICA - Social security, FICA - Medicare, FUTA, and SUTA. Use the provided form on the follow Reminder: Please use the drop-down list (right of the cell) to enter the account name on the worksheet. Employer payroll taxes FICA - Social security FICA - Medicare FUTA SUTA September earnings subject to tax Tax rate Total Payroll tax expense Instructions for Part Two Next, journalize the necessary journal entry. Date General journal 30-Sep Debit Assignment escription box. more challenging. find that you need to obtain Instructor or Academic coach assistance. or Academic coach immediately. at 11:59pm (Eastern Time). he first $117,000 paid to its employee, and FICA Medicare taxes are 1.45% 000 paid to its employee. UTA. Use the provided form on the following worksheet. account name on the worksheet. Revenue Assets Expense Equity Tax amount $ $ $ $ $ - Credit Select Journal Entry Payroll tax expense FICA - Social security payable FICA - Medicare payable FUTA payable SUTA payable