Calculation of Taxable Earnings and Employer Payroll Taxes and Preparation of Journal Entry Selected information from the payroll register of Joanie's Boutique for the week ended September 14, 20--, is as follows: Social Security tax is 6.2% on the first $128,400 of earnings for each employee. Medicare tax is 1.45% of gross earnings. FUTA tax is 0.6% and SUTA tax is 5.4% on the first $7,000 of earnings. Taxable Earnings Cumulative Pay Before Current Current Unemployment Social Employee Name Earnings Gross Pay Compensation Security Jordahl, Stephanie $6,480 $1,210 Keesling, Emily 6,110 1,100 Palmer, Stefan 55,310 2,390 Soltis, Robin 54,410 2,270 Stout, Hannah 29,130 2,010 Xia, Xu 127,400 3,520 1. Calculate the amount of taxable earnings for unemployment, Social Security, and Medicare taxes. Taxable Earnings Current Unemployment Social Employee Name Jordahl, Stephanie $ 6,480 x s Earnings Compensation Security 75.02 X Keesling, Emily 6,110 x 68.20 X Palmer, Stefan 55,310 x 148.18 X Soltis, Robin 54,410 x 140.74 X Stout, Hannah 29,130 x 124.62 X Xia, Xu 127,400 x 62.00 x 278,840 x s |x $ 618.76 x Total Social Security tax 618.76 Medicare tax 181.25 V FUTA tax 8.46 V SUTA tax 76.14 Total employer payroll taxes 884.61 2. Prepare the journal entry to record the employer's payroll taxes as of September 14, 20--.

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