Answer:
Cumulative Pay Current Earnings
Jordahl, Stephanie $6,780 $1,170
Keesling, Emily $6,060 $1,060
Palmer, Stefan $55,170 $2,370
Soltis, Robin $54,160 $2,300
Stout, Hannah $29,200 $2,010
Xia, Xu $108,480 $10,920
1) taxable earnings for unemployment = $220 + $940 = $1,160
FUTA taxes = $1,160 x 0.6% = $6.96
SUTA taxes = $1,160 x 5.4% = $62.64
taxable earnings for social security = $1,170 + $1,060 + $2,370 + $2,300 + $2,010 + $10,020 = $18,930 x 6.2% = $1,173.66
taxable earnings for medicare = $1,170 + $1,060 + $2,370 + $2,300 + $2,010 + $10,920 = $19,830 x 1.45% = $287.54
2) employer's payroll taxes:
Dr FICA tax (OASDI) expense 1,173.66
Dr FICA tax (Medicare) expense 287.54
Dr FUTA tax expense 6.96
Dr SUTA tax expense 62.64
Cr FICA tax (OASDI) payable 1,173.66
Cr FICA tax (Medicare) payable 287.54
Cr FUTA tax payable 6.96
Cr SUTA tax payable 62.64
