Please help fill in the missing information. The red x and the empty box. APPLY

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Please help fill in the missing information. The red x and the empty box.

APPLY THE CONCEPTS: Record payroll entries The payroll clerk at Rivera, Inc., has used a spreadsheet program to produce a printout of the salaries for May 15. $90,000 Employees' total earnings Deductions from earnings: Federal income tax $14,400 State income tax 3,600 Social Security tax Medicare tax 5,580 1,305 1,800 Health insurance premiums Total deductions 26,685 Net pay $63,315 Use the data in the spreadsheet for the following entries. If an amount box does not require an entry, leave it blank or enter "0". 1. Prepare the journal entry for the payment of the weekly salaries. The salaries will not be paid until May 20. 2. Prepare the journal entry to record the employer's payroll taxes. In addition to the data for Social Security and Medicare in the table, which the employer must also pay, assume a 6.0% federal unemployment tax rate and a 5.4% state unemployment tax rate. Also assume that all wages are subject to these two taxes.

Explanation / Answer

2 Payroll taxes expense 17145 Social Security tax payable 5580 Medicare tax payable 1305 FUTA tax payable 5400 SUTA tax payable 4860 The total payroll cost of the employees for Rivera Inc for this period = 90000+17145= $107145

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