Q8 - Shakir Company has the following data for the weekly payroll ending January 31....
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Q8 - Shakir Company has the following data for the weekly payroll ending January 31. 3 Hours Employee Hourly Rate Federal Income Tax Withholding Health Insurance S S M T W T 8 9 10 8 10 4 Latif Bilal Daoud Said Taki Issa 8 9 8 8 9 7 5 1 $15 18 20 $45 51 70 $15 30 30 10 10 8 9 Employees are paid 17 times the regular hourly rate for all hours worked in excess of 40 hours per week. FICA taxes are 7.65% on the first $117,000 of gross earnings. Shakir Company is subject to 5.4% state unemployment taxes and 0.8% federal unemployment taxes on the first $7,000 of gross earnings. Instructions Prepare the journal entries to record the payroll and Shakir's payroll tax expense
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