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Zion, Inc. has one employee who has worked January - June of the current year. The employee is single, paid weekly, and claims one allowance

image text in transcribedimage text in transcribed Zion, Inc. has one employee who has worked January - June of the current year. The employee is single, paid weekly, and claims one allowance on her W2. The company is in a state that has no state income taxes. The FICA Social Security tax rate is 6.2% on the first $118,500 of wages and the FICA Medicare tax rate is 1.45% on all wages. Zion, Inc.' F FUTA tax rate is 0.6% on the first $7,000 of wages and their SUTA tax rate is 2.3% on the first $8,000 of wages. The employee's earnings thus far are as follows: a) Use the information above and the IRS tax table (click to pop open) to calculate all of the taxes that should be withheld from the employees paycheck and her net pay for June. Round values to 2 decimal places if needed. b) Prepare the journal entry Zion, Inc. will record to accrue the June wages for this employee. c) Use the information provided to calculate the payroll taxes that Zion must pay on the employee's behalf for the month of June d) Prepare the journal entry Zion, Inc. will use to record their portion of the payroll taxes for June

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