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Worldwide incurred payroll tax expense on Worthington for FICA tax. The company also paid state unemployment tax and federal unemployment tax (Click the icon to

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Worldwide incurred payroll tax expense on Worthington for FICA tax. The company also paid state unemployment tax and federal unemployment tax (Click the icon to view payroll tax rate information) Lenny Worthington is general manager of Worldwide Salons. During 2018, Worthington worked for the company all year at a $12,200 monthly salary. He also earned a year-end bonus equal to 5% of his annual salary. Worthington's federal income tax withheld during 2018 was $1,464 per month, plus $732 on his bonus check State income tax withheld came to 110 per month, plus $80 on the bonus FICA lax was withhold on the annual earnings Worthington authorized the following payroll deductions Charity Fund contribution of 1% of total earnings and life insurance O 550 per month Net pay Gross pay Read the surements Withholding deductions Federal income tax State income Employee OASO tax Employee Medicare tax Charity fund contribution For all payroll calculations, use the following tax rates and round amounts to the nearest cent: Employee: OASDI: 6.2% on first $118.500 earned; Medicare: 1.45% up to $200,000, 2.35% on earnings above $200,000. Employer: OASDI: 6.2% on first $118.500 eamed; Medicare: 1.45% on all earnings: FUTA: 0.6% on first 57 000 earned: SUTA: 5.4% on first $7.000 earned 1. Compute Worthington's gross pay, payroll deductions, and net pay for the full year 2018. Round all amounts to the nearest dollar. 2. Compute Worldwide's total 2018 payroll tax expense for Worthington, 3. Make the journal entry to record Worldwide's expense for Worthington's total earnings for the year, his payroll deductions, and net pay. Debit Salaries Expense and Bonus Expense as appropriate. Credit liability accounts for the payroll deductions and Cash for net pay. An explanation is not required. 4. Make the journal entry to record the accrual of Worldwide's payroll tax expense for Worthington's total earnings. 5. Make the journal entry for the payment of the payroll withholdings and taxes. Expengs for the yeatry to record payroll tax ex

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