Payroll and Payroll Tax Entries

Superstars, Inc. (located in Sacramento) had the following payroll information available:

Employee Accumulated Earnings @10/31/10 Earning for Nov. 2010

Bowen $5,000 $3,000

Clark 110,000 10,000

Regalado 90,000 9,000

Tombs 105,000 9,000

Wang 50,000 6,000

Assume the following:

1. Federal withholding is a flat 20% of earnings

2. State withholding is a flat 6% of earnings

3. SUTA rate is 4%

Required:

a. Prepare the payroll journal entry at Nov.30, 2010 including necessary supporting schedules and calculations

b. Prepare the payroll tax journal entry at Nov. 30, 2010 including necessary supporting schedules and calculation.

Thank you very much.

Please read the following announcement.

https://www.askmehelpdesk.com/finance-accounting/announcement-font-color-ff0000-u-b-read-first-expectations-homework-help-board-b-u-font.html

We won't do your homework for you, but we will check it and give you guidance. If you will start with a spreadsheet laid out as follows:

Down the left side, list the employees.

Across columns, list the wages for November, payroll withholdings, employee paid taxes, and net pay - that will be a start. It will get you to their net pay. Payroll taxes owed by the employer will be a separate entry. If you'll do that and come back, I'll check it for you and see if you need any explanation. Thanks.