In EA14, you prepared the
• May is the first pay period for this employee. FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to the employee. FICA Social Security and FICA Medicare match employee deductions. The employer is responsible for 70% of the health insurance premium.
Using the information from EA14 and the additional information provided:
A. Record the employer payroll for the month of May, dated May 31, 2017.
B. Record the payment in cash of all employer liabilities only on June 1.
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