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Louls Weich is general manager of Wordivide 5alons. During 2024, Weich worked for the company all year at a $12,900 monthly salary. He abo earned a yeir-end bonus equal to 5% of His amual salary Woleri federal inoome tax with heid during 2024 was $3.096 per month, plus 51,858 on his bocus check. Stato incorre tax withheld came to $60 per month, plus $30 on the bonus. FiCA tax was witheld on the annual oamings, Welch authorited the following poytoll beductionss Charity Fund contribulion of 3% of toal earrings and life insurance of $40 per month. Worldwide incurred poyroll tax expense on Weich for FiCA Ex. The compeny also pald state cuemployment tax and federal uncmploymert tax. (Click the icon to viens siayrol tax rate information.) More info Requirements For all payrol calculations, use the following tax rales and round amounts to the nearnst cent 1. Compute Waichis grose pay, poyrol deductons, and ner poy for the ful year 2024. Round at amounts to the nearest dotar. Emplopee: OA3Di 6.2% on trit 5132.000 eaned Medicare: 1.45% up to 2. Compute WoAdwide's botal 2024 portol tax eupenee for Weich 3. Msle ene poumal entry to record Wongeide's evpense for Welchic tolal Employec OXSDt, 62 an on frat \$132.000 samed; Medicare: 1.45\%, FUTA. earings for the year, his payroli deciections, and net pay Oebt Salaries Expenae and Bonus Eapense as approprate. Credit lability accounte for the payroll doductons and Cash for net piry. An euplanation is not requined 4. Make the journal entry to record the accrual of Weddwide's payrdi tax copente for Welchi's total earrings. 5. Make the joumal entry for the paymect of the poyroll withhodings and taxos Requirement 1. Compute Welch's gross pay, payroll deductions, and net pay for the full year 2024. Round all amounts to the nearest doilar. Begin by computing Welch's gross pay for the year. (Round all amounts to the nearest dollar.) Now compute Welch's payroll deductions and net pay for the year. (Round all amounts to the nearest dollar.) Requirement 2. Compute Worldwide's total 2024 payroll tax expense for Welch. (Round all amounts to the nearest dollar.) Employer Payroll Taxes: Total Employer Payroll Tax Total Payroll Expense Requirement 3. Make the joumal entry to record Worldwide's expente for Welch's total eamnos for the yoat, his paytol defuctions, and nat pay, Dobit Salaries Expense and Eonia Expense as Requirement 5. Make the journal entry for the payment of the payroll withholdings and taxes. (Record debits first, then credits. Exclude axplanations from foumal entries.)

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