Rubos Inc had the following payroll information for the pay period ending 10/31/2012. Total payroll was...

Rubos Inc had the following payroll information for the pay period ending 10/31/2012. Total

payroll was $640,000. Unemployment taxes rates were 4.5% for

State unemployment and .8 % for federal unemployment.

. Income taxes withheld were $130,00. Union dues withheld were $36,000. Insurance

premiums withheld were $24,000. Rubos also has an employee retirement plan which had

contributions from employees of $14,000. Rubos matches all employee contributions with

employer contributions of 50%. Prepare all necessary journal entries to record the payroll on

10/31/2012. Assume that employees are paid in cash on 10/31/2012.

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Expert Solution

ekkarill92 answered 1 year ago

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