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Calculation and Journal Entry for Employer Payroll Taxes 1. Calculate the employer's payroll taxes expense. Round your answer to the nearest cent.

Calculation and Journal Entry for Employer Payroll Taxes

1. Calculate the employer's payroll taxes expense. Round your answer to the nearest cent.

2. Prepare the journal entry as of March 12, 20--, assuming that FUTA tax is 0.6%, SUTA tax is 5.4%, Social Security tax is 6.2%, and Medicare tax is 1.45%. If required, round your answers to the nearest cent. If an amount box does not require an entry, leave it blank.

Earnings for several employees for the week ended March 12, 20--, are as follows:

Taxable Earnings

Employee NameCurrent 

EarningsUnemployment 

CompensationSocial 

SecurityAus, Glenn E.$700  $200        $700  Diaz, Charles K.350  350        350  Knapp, Carol S.1,240  -        1,240  Mueller, Deborah F.850  135        850  Yeager, Jackie R.940  35        940  




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Employer's Payroll Taxes

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