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Journalize city company salaries and wages expense

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Reference no: EM133177627

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

Employee: OASDI: 6.2% on 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 earned; Medicare: 1.45% on all earnings; FUTA: 0.6% on first $7,000 earned; SUTA: 5.4% on first $7,000 earned.

Required -

1. Complete the payroll register.

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

3. Journalize City 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.

Reference no: EM133177627

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