Please show your work so it is easier to understand, thank you! The payroll reco

Question

Please show your work so it is easier to understand, thank you!

The payroll records of Airtech Solutions, Ltd. are provided for the period ended December 7: (See Payroll Liabilites on pages 404-406) Required: Compute the necessary information for the payroll journal entries. Complete the entry to accrue the payroll. Complete the entry to record the payroll tax expense. Employee Earnings to End of Previous Week Gross Pay Federal Income Taxes Medical Insurance Deduction Union Dues United Way R. Arthur $54,000 $1,200 $160 $125 $15 $30 J. Baines 6,500 900 102 125 15 25 T. Carter 8,500 750 85 125 15 15 J. Hess 116,800 2,500 450 150 -0- 50 L. Vang 145,000 2,900 580 150 -0- 50    Totals The FICA Social Security compensation limit is $118,500.   The state unemployment tax rate is 5.4% on the first $9,000 paid to each employee. Employee FICA SS wage base for pay period FUTA wage base for pay period SUTA wage base for pay period FICA Med wage base for pay period R. Arthur J. Baines T. Carter J. Hess L. Vang Total wage base Tax rate Accrued taxes (NOTE: Be sure to limit the amount of the wage base for the annual limitation) Record the payroll for the period Record the employer payroll taxes for the period

Explanation / Answer

Employee Earnings to End of Previous Week Gross Pay Federal Income Taxes Medical Insurance Deduction Union Dues United Way R. Arthur $54,000 $1,200 $160 $125 $15 $30 J. Baines 6,500 900 102 125 15 25 T. Carter 8,500 750 85 125 15 15 J. Hess 116,800 2,500 450 150 0 50 L. Vang 145,000 2,900 580 150 0 50 Total $8,250 $1,377 $675 $45 $170 ans Employee FICA SS wage base for pay period FUTA wage base for pay period SUTA wage base for pay period FICA Med wage base for pay period R. Arthur $1,200 0 0 $1,200 J. Baines 900 900 900 $900 T. Carter 750 500 500 $750 J. Hess 1,700 0 0 $2,500 L. Vang 0 0 0 $2,900 Total wage base $4,550 $1,400 $1,400 $8,250 Tax rate 6.20% 0.60% 5.40% 1.45% Accrued taxes $282.10 $8.40 $75.60 $119.63 Accounts title Dr Cr Salaries expenses $8,250.00 FICA-Social Security Taxes payable $282.10 FICA-Medicare taxes payable $119.63 Employees Federal Income taxes payable $1,377.00 Medical Insurance payable $675.00 Union Dues payable $45.00 United way payable $170.00 Salaries Payable $5,581.28 (being payroll recorded) Payrol Tax expenses $485.73 FICA-Social Security Taxes payable $282.10 FICA-Medicare taxes payable $119.63 Federal Unemployment Taxes payable $8.40 State Unemployment Taxes payable $75.60 (being payroll tax expenses)

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