You've just started your first accounting job, as the accounts payable and payroll clerk for Copperfield and Company, a provider of delicate wine glasses to restaurants. Your predecessor left the job suddenly, and was not able to complete all the tasks before leaving You need to get up to speed and complete the unfinished tasks as soon as possible Your tasks on your first day are the following 1. Review the payroll journal entries made by your predecessor 2. Compute the relevant amounts for the company's short-term note payable and determine whether your predecessor's journal entries are correct 3. Confirm the journal entry for this year's payment on an installment note. 4. Make a recommendation as to whether the company should journalize any warranty expense for the month You decide to get started-the sooner the bettert The following paryroll journal entries for Oct 15 were made by your predecessor. For FICA tax, assume that the social security rate is 6.0 % and the Medicare rate is 1.5 % . The state and federal unemployment tax rates are 5.4% and 0.8 % , respectively. The company offers 401k plans to employees. Review the journal entries, then answer the questions that follow DATE DESCRIPTION POST. REF DEBIT CREDIT ASSETS LIARLITIES EQUITY Oct. 15 Sales Salaries Expense 85,500.00 1 Officers Salaries Expense 307,800.00 Office Salaries Expense 57,000.00 Factory Wages Expense 119,700.00 Social Security Tax Payable 34,200.00 Medicare Tax Payable 8.550.00 Employees Federal Income Tax Payable 102.600.00 Medical Insurance Payable 62,700.00 Retirement Contributions Payable 85,500.00 10 Salaries Payable 276,450.00 T Payroll Tax Expense 15 44,083.00 12 Social Security Tax Payable 34200.00 Medicare Tax Payable 8.550,00 Payroll 172.00 Federal Unemployment Tax Payable 14 1.161.00 State Unemployment Tax Payable 15 Pension Expense 34,200.00 15 16 34,200.00 Cash 1: In order to confim the previous clerk's payrol calculations, you have been asked to supply the following amounts based on your review of the payrol entries. These amounts will be checked against the company records and investigated further if necessary 1. Determine the payroll amount subject to federal and state unemployment taxes in this payroll R Points 0/1 2. What is the total payroll for Copperfield and Company shown in these journal entries? S K Points 0/1 3. What is Copperfield and Company's share of FICA taxes in this payrol Points: 0/1 4. How much has Copperfield and Company contributed to emplovee 401k plans in this payrol