Zippy, LLC has one employee who has worked January - June of the current year. The employee is single, paid weekly, and claims three allowances on her W- 2. 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. Zippy, LLC'S 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: Gross pay Jan - May Gross pay for June $7,800 $1,020 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. Gross Pay Federal Withholding FICA-SS FICA-Medicare Net Pay b) Prepare the journal entry Zippy, LLC. will record to accrue the June wages for this employee. Date Description Debit Credit 06/30 Federal Withholding Payable FICA-SS Payable FICA-Medicare Payable to accrue salaries and withholding for June payroll c) Use the information provided to calculate the payroll taxes that Zippy must pay on the employee's behalf for the month of June FICA-SS FICA-Medicare FUTA SUTA D Total ER taxes d) Prepare the journal entry Zippy, LLC will use to record their portion of the payroll taxes for June. Date Description Debit Credit 06/30 Payroll Tax Expense FICA-SS Payable FICA-Medicare Payable SUTA Taxes Payable to record employer's portion of payroll taxes for June Tax Table SINGLE Persons - WEEKLY Payroll Period 87 90 93 Olololo 99 102 105 108 80 And the wages are- But less o At least than 880 900 104 900 920 107 920 940 110 940 960 113 960 980 1 16 980 1,000 119 1,000 1,020 122 1,020 1,040 125 1,040 1,060 128 1,060 1,080 131 1,080 1,100 134 1,100 1,120 137 1,120 1,140 140 1,140 1,160143 1,160 1,180 146 1,180 1,200 149 1,200 1,220 152 1,220 1,240 155 1,240 1,260 158 1,260 1,280 161 1,280 1,300 164 1,300 1,320 167 1,320 1,340 170 1,340 1,360 173 1,360 1,380 176 1,380 1,400 179 1,400 1,420 182 1,420 1,440 185 1,440 1,460 188 1,460 1,480 191 IIIIIIIIIIIIIIIIIIIIIIII 114 117 120 123 126 129 132 And the number of withholding allowances claimed is- 2 3 4 5 6 7 8 The amount of income tax to be withheld is - 59 36 2 1 6 0 0 0 0 0 39 23 8 0 0 0 0 0 65 42 25 10 0 0 0 0 0 68 45 27 12 0 0 0 71 48 29 14 0 0 0 0 51 31 1 6 1 0 0 7 7 54 33 18 3 0 0 0 35 20 5 0 0 0 83 38 22 7 0 0 0 63 41 24 9 0 0 0 26 11 0 92 69 28 13 0 0 0 95 30 15 0 0 98 75 53 32 17 2 0 0 101 78 56 34 19 4 0 0 0 104 81 59 36 21 6 0 0 0 107 84 62 39 23 8 0 110 42 25 10 0 0 0 113 9068 45 27 12 0 0 0 116 93 71 48 29 1 4 0 119 96 74 51 31 16 1 0 0 122 99 77 54 33 18 3 0 0 125 102 80 57352050 12810583 6038 22 7 0 0 131 1 08 86 63 41 900 134 111 89 66 44 26 11 0 0 137 114 92 69 4 7 28 13 0 0 140 117 95 72 50 30 15 0 0 143 1 20 98 75 53 32 17 2 0 146 123 101 78 56 34 19 4 0 87 141 144 147 150 153 156 159 162 165 168 25 10 27 12 2914 74 33 35 1,480 1,500 1,520 1,540 1,560 1,580 1,600 1,620 1,640 1,660 1,680 1,700 1,720 1,740 1,760 1,780 1,800 20 TTTTTTTTTT THIIIIIIIIII 1,500 1,520 1,540 1,560 1,580 1,600 1,620 1,640 1,660 1,680 1,700 1,720 1,740 1,760 1,780 1,800 1,820 195 200 205 210 215 220 225 230 235 240 245 250 255 260 265 270 171 149 126 174 152 129 177 155 132 180 158 135 183 161 138 186 164 141 189 167 144 192 170 1 47 197 173 150 202 176 153 207 179 156 212 182 159 217 185 162 222 188 165 227191168 232 195 171 237 200 174 104 107 110 87 1139068 116 93 71 48 119 96 51 122 99 125 102 128 105 131 108 134 111 137 114 92 140 117 9 5 143 1 20 98 146 123 10178 149 126 104 152 129 107 84 41 24 26 15 47 28 50 30 53 32 56 34 5936 6239 19 81 1020 275 23 Zippy, LLC has one employee who has worked January - June of the current year. The employee is single, paid weekly, and claims three allowances on her W- 2. 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. Zippy, LLC'S 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: Gross pay Jan - May Gross pay for June $7,800 $1,020 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. Gross Pay Federal Withholding FICA-SS FICA-Medicare Net Pay b) Prepare the journal entry Zippy, LLC. will record to accrue the June wages for this employee. Date Description Debit Credit 06/30 Federal Withholding Payable FICA-SS Payable FICA-Medicare Payable to accrue salaries and withholding for June payroll c) Use the information provided to calculate the payroll taxes that Zippy must pay on the employee's behalf for the month of June FICA-SS FICA-Medicare FUTA SUTA D Total ER taxes d) Prepare the journal entry Zippy, LLC will use to record their portion of the payroll taxes for June. Date Description Debit Credit 06/30 Payroll Tax Expense FICA-SS Payable FICA-Medicare Payable SUTA Taxes Payable to record employer's portion of payroll taxes for June Tax Table SINGLE Persons - WEEKLY Payroll Period 87 90 93 Olololo 99 102 105 108 80 And the wages are- But less o At least than 880 900 104 900 920 107 920 940 110 940 960 113 960 980 1 16 980 1,000 119 1,000 1,020 122 1,020 1,040 125 1,040 1,060 128 1,060 1,080 131 1,080 1,100 134 1,100 1,120 137 1,120 1,140 140 1,140 1,160143 1,160 1,180 146 1,180 1,200 149 1,200 1,220 152 1,220 1,240 155 1,240 1,260 158 1,260 1,280 161 1,280 1,300 164 1,300 1,320 167 1,320 1,340 170 1,340 1,360 173 1,360 1,380 176 1,380 1,400 179 1,400 1,420 182 1,420 1,440 185 1,440 1,460 188 1,460 1,480 191 IIIIIIIIIIIIIIIIIIIIIIII 114 117 120 123 126 129 132 And the number of withholding allowances claimed is- 2 3 4 5 6 7 8 The amount of income tax to be withheld is - 59 36 2 1 6 0 0 0 0 0 39 23 8 0 0 0 0 0 65 42 25 10 0 0 0 0 0 68 45 27 12 0 0 0 71 48 29 14 0 0 0 0 51 31 1 6 1 0 0 7 7 54 33 18 3 0 0 0 35 20 5 0 0 0 83 38 22 7 0 0 0 63 41 24 9 0 0 0 26 11 0 92 69 28 13 0 0 0 95 30 15 0 0 98 75 53 32 17 2 0 0 101 78 56 34 19 4 0 0 0 104 81 59 36 21 6 0 0 0 107 84 62 39 23 8 0 110 42 25 10 0 0 0 113 9068 45 27 12 0 0 0 116 93 71 48 29 1 4 0 119 96 74 51 31 16 1 0 0 122 99 77 54 33 18 3 0 0 125 102 80 57352050 12810583 6038 22 7 0 0 131 1 08 86 63 41 900 134 111 89 66 44 26 11 0 0 137 114 92 69 4 7 28 13 0 0 140 117 95 72 50 30 15 0 0 143 1 20 98 75 53 32 17 2 0 146 123 101 78 56 34 19 4 0 87 141 144 147 150 153 156 159 162 165 168 25 10 27 12 2914 74 33 35 1,480 1,500 1,520 1,540 1,560 1,580 1,600 1,620 1,640 1,660 1,680 1,700 1,720 1,740 1,760 1,780 1,800 20 TTTTTTTTTT THIIIIIIIIII 1,500 1,520 1,540 1,560 1,580 1,600 1,620 1,640 1,660 1,680 1,700 1,720 1,740 1,760 1,780 1,800 1,820 195 200 205 210 215 220 225 230 235 240 245 250 255 260 265 270 171 149 126 174 152 129 177 155 132 180 158 135 183 161 138 186 164 141 189 167 144 192 170 1 47 197 173 150 202 176 153 207 179 156 212 182 159 217 185 162 222 188 165 227191168 232 195 171 237 200 174 104 107 110 87 1139068 116 93 71 48 119 96 51 122 99 125 102 128 105 131 108 134 111 137 114 92 140 117 9 5 143 1 20 98 146 123 10178 149 126 104 152 129 107 84 41 24 26 15 47 28 50 30 53 32 56 34 5936 6239 19 81 1020 275 23