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1. A companys giveroll information for the month of may follows: administrative salaries| $2,000| gross sales salaries| 3,500| Shop wages| 4,000| FICA taxes withheld| 700| national income taxes withheld| 1,300| medical exam redress premiums withheld| 415| heart and soul dues withheld| 205| | | On May 31 the company issued strike put rid of No. 335 succumbable to the payroll department Bank Account to pay for the May payroll. It issued payroll checks to the employees after depositing the check. (1) Prep atomic number 18 the journal ledger submission to record (accrue) the employers payroll for May. (2) mug up the journal entry to pay for the May payroll. The federal and accede unemployment tax rates are 0.8% and 5.4%, respectively, on the first $7,000 paying to each employee-the wages and salaries affair to these taxes were $6,000. (3) Prepare the journal entry to record the employers payroll taxes.

assist: May| 31| administrative Salaries write off| 2,000| | | | Sales Salaries Expense| 3,500| | | | Shop final payment Expense| 4,000| | | | FICA Taxes account payable| | 700| | | Federal Income Taxes payable| | 1,300| | | Employee Medical Insurance collectable| | 415| | | Employee Union Dues Payable| | 205| | | increase Payroll Payable| | 6,880| | | | | | | 31| Accrued Payroll Payable| 6,880| | | | money| | 6,880| | | | | | | 31| Payroll Taxes Expense| 1,072| | | | FICA Taxes Payable| | 700| | | Federal Unemployment Taxes Payable*| | 48| | | State Unemployment Taxes Payable*| | 324| | | | | | | | *$6,000 x 0.008 = $48.| | | | | *$6,000 ! x 0.054 = $324.| | | 2. A companys employer payroll taxes are 0.8% for federal unemployment taxes, 5.4% for state unemployment taxes, 6.2% for FICA neighborly surety taxes on earnings up to $87,000, and 1.45% for FICA Medicare taxes on all...If you indispensability to get a full essay, order it on our website: OrderCustomPaper.com

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