White Lemon Cameras has the following employees: Annual Taxable Wages $12,600 $15,600 Employee Name Mia Haskell Viktor Papadopoulos Puja Anderson Cady Billingmeier Carl Johnson Required: White Lemon Cameras' SUTA tax rate is 5.4 percent and applies to the first $8,400 of employee wages. White Lemon Cameras' FUTA tax rate of 6% is subject to a 5.4% reduction and applies to the first $7,000 of employee wages. What is the annual amount of FUTA and SUTA taxes due for each employee? (Round your answers for "SUTA Due" to 2 decimal places.) Employee Mia Haskell Viktor Papadopoulos Puja Anderson Cady Billingmeier Carl Johnson $25,200 $21,000 $40,800 FUTA Due SUTA Due

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Payroll Entries

Payroll is a comprehensive record of employees that are paid by the company. Payroll classifies employees into various categories according to their function and pays scale (basic wage, allowance, income tax, other taxes, employee loans, etc.). Payroll processes form the bedrock of every organization as it contains sensitive information on the ‘wage and paycheck’ portion of the company’s strength—its employees. The organization needs to keep a track of the employees currently on the payroll, the net payout for the company, the record of transactions related to the employees including deductions and payroll taxes to identify the liability and its effect on the balance sheet (and other financial statements). Payroll records also include qualitative factors such as the conduct of the employee.