Country Company had the following partially completed payroll register: Partial payroll register: Ea

 
   

Need your ASSIGNMENT done? Use our paper writing service to score better and meet your deadlines.  

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.