Problem - Entries for payroll transactions

On January 8, the end of the first weekly pay period of the year , Regis Company's payroll register showed that its employees earned 22,760 of office salaries and 70,840 of sales salaries. With holdings from the employee's salaries include FICA Social Security taxes at the rate of 6.20%, FICA Medicare taxes at the rate of 1.45% , $13,360 of federal income taxes , $1,400 of medical insurance deductions, and $900 of union dues. No employee earned more than $7,000 in first period.

Calculate below the amounts for each of those four taxes of Regis's Company. Regis's merit rating reduces its state unemployment tax rate to 2% of the first $7,000 paid each employee. The federal unemployment tax rate is 0.8%.

Prepare the journal entry to record Regis Company's January 8. (employee) payroll expenses and liabilities.

Prepare the journal entry to record Regis's (employer) payroll taxes resulting from the January 8 payroll. Regis's merit rating reduces its state unemployment tax rate to 2% of first $7,000 paid each employee. The federal unemployment tax rate is 0.8%.