Question

Country Company had the following partially completed payroll register:

Partial payroll register:

Earnings			Withholdings
											Salaries
Beginning	Current	Ending									and
Cumulative	Period	Cumulative			Income	Health	United	Total	Net	Check	Wages
Earnings	Earnings	Earnings	OASDI	Medicare	Tax	Insurance	Way	Withholdings	Pay	No.	Expense
$77,000	$4,500				$900	$90	$15			801
112,000	7,200				1,200	144	35			802
48,000	3,300				600	66	0			803
61,000	3,300				850	66	20			804
0	4,500				1,100	90	0			805
$298,000	$22,800				$4,650	$456	$70

payroll tax rate info:

For all payroll​ calculations, use the following tax rates and round amounts to the nearest​ cent:

employee: OASDI: 6.2% on the first $118,500 earned; medicare: 1.45% up to $200,000, 2.35% on earnings above $200,000

employer: OASDI: 6.2% on first $118,500; medicare: 1.45% on all earnings; FUTA: 0.6% on first $7,000 earned; SUTA: 5.4% on first $7,000 earned

Requirements:

Requirement 1. Complete the payroll register. Round to two decimals. ​(Round all amounts to the nearest cent. Abbreviations​ used: Beg.​ = Beginning; Cum.​ = Cumulative; Earn.​ = Earnings; Exp.​ = Expense; Med.​ = Medicare; Ins.​ = Insurance; With.​ = Withholdings; Chk​ = Check.)

Earnings			Withholdings
											Salaries
Beg.	Current	Ending									and
Cum.	Period	Cum.			Income	Health	United	Total	Net	Chk	Wages
Earn.	Earn.	Earn.	OASDI	Med.	Tax	Ins.	Way	With.	Pay	No.	Exp.
$77,000	$4,500				$900	$90	$15			801
112,000	7,200				1,200	144	35			802
48,000	3,300				600	66	0			803
61,000	3,300				850	66	20			804
0	4,500				1,100	90	0			805
$298,000	$22,800				$4,650	$456	$70

2. Journalize County Company's salaries and wages expense accrual for the current pay period.

3.  

Journalize County Company's expenses for employer payroll taxes for the current pay period.

4. Journalize the payment to employees
5. Journalize the payment for withholdings and employer payroll taxes.

Answer 1