Discussion Post
EA14 Toren Inc. employs one person to run its solar management company. The employee's gross income for the month of May is $6,000. Payroll for the month of May is as follows: FICA Social Security tax rate at 6.2%, FICA Medicare tax rate at 1.45%, federal income tax of $400, state income tax of $75, healthcare insurance premium of $200, and union dues of $50. The employee is responsible for covering 30% of his or her health insurance premium.
• Record the journal entry to recognize employee payroll for the month of May, dated May 31, 2017.
• Record remittance of the employee's salary with cash on June 1.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.