The following monthly data are taken from ramirez company at july 31: sales salaries, $700,000; office salaries, $140,000; federal income taxes withheld, $210,000; state income taxes withheld, $47,000; social security taxes withheld, $52,080; medicare taxes withheld, $12,180; medical insurance premiums, $17,000; life insurance premiums, $14,000; union dues deducted, $11,000; and salaries subject to unemployment taxes, $70,000. the employee pays forty percent of medical and life insurance premiums. 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%
1.record all employer's payroll expenses and liabilities for the month of july.
2.record the employer's benefit expense.
3.record the cash payment of all liabilities related to the july payroll.
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The following monthly data are taken from ramirez company at july 31: sales salaries, $700,000; of...
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