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MRI Company has one employee. FICA Social Security taxes are 6.2% of the first $106,800 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For MRI, its FUTA taxes are 0.8% and SUTA taxes are 2.9% of the first $7,000 paid to its employee. |
| Gross Pay through August | Gross Pay for September | |||
| a. | $ | 6,400 | $ | 800 |
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Prepare the employer’s September 30 journal entries to record salary expense and its related payroll liabilities for this employee. The employee’s federal income taxes withheld by the employer are $135 for this pay period. (Round your answers to 2 decimal places. Omit the “$” sign in your response) |
| Date | General Journal | Debit | Credit | |
| Sept. | 30 | (Click to select)Salaries expenseSalaries payableFICA Medicare taxes payableFICA Social security taxes payablePayroll taxes expenseEmployee federal income taxes payableAccrued payroll payableState unemployment taxes payable | ||
| (Click to select)Salaries expenseState unemployment taxes payableEmployee federal income taxes payableFICA Social security taxes payableAccounts payableAccrued payroll payablePayroll taxes expenseFICA Medicare taxes payable | ||||
| (Click to select)Salaries expensePayroll taxes expenseFICA Social security taxes payableFICA Medicare taxes payableEmployee federal income taxes payableAccrued payroll payableAccounts payableState unemployment taxes payable | ||||
| (Click to select)Salaries expenseAccounts payableState unemployment taxes payableFICA Medicare taxes payableEmployee federal income taxes payablePayroll taxes expenseFICA Social security taxes payableAccrued payroll payable | ||||
| (Click to select)Employee federal income taxes payableSalaries expenseFICA Medicare taxes payableFICA Social security taxes payableState unemployment taxes payableAccounts payableAccrued payroll payablePayroll taxes expense | ||||
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