Payroll entries. Total payroll of Walnut Co. was $1,840,000, of which $320,000 represented amounts paid in excess of $106,800 to certain employees. The amount paid to employees in excess of $7,000 was $1,440,000. Income taxes withheld were $450,000. The state unemployment tax is 1.2%, the federal unemployment tax is .8%, and the F.I.C.A. tax is 7.65% on an employee's salaries and wages to $106,800 and 1.45% in excess of $106,800.
Instructions
(a) Prepare the journal entry for the salaries and wages paid.
(b) Prepare the entry to record the employer payroll taxes.

A. Dr Salaries & Wages exp.$1,840,000

Dr Fed tax withheld & payable $450,000

Cr FICA Taxes withheld & payable $120,920

Cr Cash$2,169,080

B. Dr Employer's Tax expenses $112,920

Cr FICA taxes payable $120,920

Cr SUTA payable$4,800

Cr FUTA payable $3,200

Explanation:

a. Preparation of the journal entry for the salaries and wages paid.

Dr Salaries & Wages exp.$1,840,000

Dr Fed tax withheld & payable $450,000

Cr FICA Taxes withheld & payable $120,920

[($1,840,000-$320,000*7.65%)+($320,000*1.45%)]

Cr Cash$2,169,080

($1,840,000+$450,000-$120,920)

(Being net salaries and wages paid after holding taxes)

b. Preparation of the entry to record the employer payroll taxes.

Dr Employer's Tax expenses $112,920

($120,920-$4,800-$3,200)

Cr FICA taxes payable $120,920

[($1,840,000-$320,000*7.65%)+($320,000*1.45%)]

Cr SUTA payable$4,800

($1,840,000-$1,440,000*1.2%)

Cr FUTA payable $3,200

($1,840,000-$1,440,000*.8%)

(Being employer's taxes made payable towards salaries & wages)

An organisms niche is (A) The range of physical and biological conditions in which an organism lives and the way in which it uses those conditions.
 Technically, any of the answers could be true, however, A is the only one that offers a broad definition.A niche is not only the location and conditions in which an organism lives, but also the organisms role within that niche and how it uses the resources to survive.