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year, Regia nd $70,840 of sales salarles. Withholdings from the employees' salaries Include FICA 2%, FICA Medicare taxes at the rate of 1.45%, $13,560 of federal income taxes, $1,400 B80 of union dues. No employee earmed more than $7,000 in this first pertod. equired: I Calculate below the amounts for each of these four taxes of Regis Company. Regis's e first $7,000 pald to each employee. The federal unemployment tax rate is 0.6% 2 Prepare the journal entry to record Regis Company's January 8 employee payroll ex Prepare the Journal entry to record Regis's employer payroll taxes resulting from the. hemployment tax rate is 5.4% of the first $7,000 paid to each employee. The federal un Complete this question by entering your answers in the tabs below. Reg 1A Reg 18 Req 2 Calculate below the amounts for each of these four taxes of Regis Company. Regis's state the first $7,000 paid to each employee. The federal unemployment tax rate is 0.6%. (Roun

year, Regia nd $70,840 of sales salarles. Withholdings from the employees' salaries Include FICA 2%, FICA Medicare taxes at the rate of 1.45%, $13,560 of federal income taxes, $1,400 B80 of union dues. No employee earmed more than $7,000 in this first pertod. equired: I Calculate below the amounts for each of these four taxes of Regis Company. Regis's e first $7,000 pald to each employee. The federal unemployment tax rate is 0.6% 2 Prepare the journal entry to record Regis Company's January 8 employee payroll ex Prepare the Journal entry to record Regis's employer payroll taxes resulting from the. hemployment tax rate is 5.4% of the first $7,000 paid to each employee. The federal un Complete this question by entering your answers in the tabs below. Reg 1A Reg 18 Req 2 Calculate below the amounts for each of these four taxes of Regis Company. Regis's state the first $7,000 paid to each employee. The federal unemployment tax rate is 0.6%. (Roun

College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter8: Employer Taxes, Payments, And Reports
Section: Chapter Questions
Problem 2E
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On January 8, the end of the first weekly pay perlod of the year, Regis Company's employees earned $21,760 of office salarles and $70,840 of sales salarles. Withholdings from the employees' salarles Include FICA Social Security taxes at the rate of 6.2%, FICA Medicare taxes at the rate of 1.45%, $13,560 of federal Income taxes, $1,400 of medical Insurance deductions, and $880 of union dues. No employee eamed more than $7,000 in this first period. Required: 1.1 Calculate below the amounts for each of these four taxes of Regis Company. Regis's state unemployment tax rate is 5.4% of the first $7,000 pald to each employee. The federal unemployment tax rate is 0.6% 1.2 Prepare the journal entry to record Regis Company's January 8 employee payroll expenses and liabilitles. 2 Prepare the Journal entry to record Regis's employer payroll taxes resulting from the January 8 payroll. Regis's state unemployment tax rate is 5.4% of the first $7,000 paid to each employee. The federal unemployment tax rate is 0.6%. Complete this question by entering your answers in the tabs below. Req 1A Req 18 Req 2 Calculate below the amounts for each of these four taxes of Regis Company. Regis's state unemployment tax rate is 5.4% of the first $7,000 paid to each employee. The federal unemployment tax rate is 0.6%. (Round your answers to 2 decimal places.) Regis Company's: January 8 earnings subject to tax Tax Tax Rate Таx Amount FICA-Social Security FICA-Medicare FUTA SUTA < Req 1A Req 1B >
Transcribed Image Text:On January 8, the end of the first weekly pay perlod of the year, Regis Company's employees earned $21,760 of office salarles and $70,840 of sales salarles. Withholdings from the employees' salarles Include FICA Social Security taxes at the rate of 6.2%, FICA Medicare taxes at the rate of 1.45%, $13,560 of federal Income taxes, $1,400 of medical Insurance deductions, and $880 of union dues. No employee eamed more than $7,000 in this first period. Required: 1.1 Calculate below the amounts for each of these four taxes of Regis Company. Regis's state unemployment tax rate is 5.4% of the first $7,000 pald to each employee. The federal unemployment tax rate is 0.6% 1.2 Prepare the journal entry to record Regis Company's January 8 employee payroll expenses and liabilitles. 2 Prepare the Journal entry to record Regis's employer payroll taxes resulting from the January 8 payroll. Regis's state unemployment tax rate is 5.4% of the first $7,000 paid to each employee. The federal unemployment tax rate is 0.6%. Complete this question by entering your answers in the tabs below. Req 1A Req 18 Req 2 Calculate below the amounts for each of these four taxes of Regis Company. Regis's state unemployment tax rate is 5.4% of the first $7,000 paid to each employee. The federal unemployment tax rate is 0.6%. (Round your answers to 2 decimal places.) Regis Company's: January 8 earnings subject to tax Tax Tax Rate Таx Amount FICA-Social Security FICA-Medicare FUTA SUTA < Req 1A Req 1B >
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