Reference no: EM132650542

The following monthly data are taken from Ramirez Company at July 31:

Sales salaries, $620,000;

Office salaries, $124,000;

Federal income taxes withheld, $186,000;

State income taxes withheld, $41,500;

Social security taxes withheld, $46,128;

Medicare taxes withheld, $10,788;

Medical insurance premiums, $15,000;

Life insurance premiums, $12,000;

Union dues deducted, $9,000; and

Salaries subject to unemployment taxes, $66,000.

The employee pays 40% of medical and life insurance premiums. Assume that FICA taxes are identical to those on employees and that SUTA taxes are 5.4% and FUTA taxes are 0.6%.

Question 1: Using the above information, complete the below table and Prepare the journal entries to record accrued payroll and cash payment of the net payroll for July.

Question 2: Using the above information, complete the below table.

Question 3: Record the accrued employer payroll taxes and all other employer-paid expenses and the cash payment of all liabilities for July-assume that FICA taxes are identical to those on employees and that SUTA taxes are 5.4% and FUTA taxes are 0.6%