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Business, 08.04.2021 18:40 marziel24

Selected information from the payroll register of Barbara's Stables for the week ended September 28, 20--, is as follows: Social Security tax is 6.2% on the first $128,400 of earnings for each employee. Medicare tax is 1.45% of gross earnings, FUTA tax is 0.8%, and SUTA tax is 5.4% each on the first $7,000 of earnings. Employee Name Cumulative Pay Before Current Earnings Current Gross Pay
Jordahl, Stephanie $6,600 $1,190
Keesling, Emily 6,150 1,070
Palmer, Stefan 55,200 2,410
Soltis, Robin 54,300 2,280
Stout, Hannah 29,050 2,030
Xia, Xu 116,630 2,850

Required:
a. Calculate the amount of taxable earnings for unemployment, Social Security, and Medicare taxes.
b. Prepare the journal entry to record the employer's payroll taxes as of September 14, 20--. Round your answers to the nearest cent. If an amount box does not require an entry, leave it blank.

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Selected information from the payroll register of Barbara's Stables for the week ended September 28,...

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