(Solved): The information for Titan Company, shown in the following chart, is available from Titan's time reco ...

The information for Titan Company, shown in the following chart, is available from Titan's time records and the employees' individual earnings records for the pay period ended December 22.

Taxable earnings for Social Security are based on the first $118,500. Taxable earnings for Medicare are based on all earnings. Taxable earnings for federal and state unemployment are based on the first $7,000. The company does not pay for overtime hours.

Required:

1. Complete the payroll register using a Social Security tax rate of 6.2 percent and a Medicare tax rate of 1.45 percent. Concerning Other Deductions, AR refers to Accounts Receivable and UW refers to United Way. Begin payroll checks in the payroll register with No. 2914. If an amount is zero, enter "0". If required, round your intermediate calculations and the final answers to the nearest cent and use the rounded answers in subsequent computations.

2. Prepare the general journal entry to record the payroll. The firm's general ledger contains a Salary Expense account and a Salaries Payable account. Then prepare the general journal entry to pay the payroll. Assume that funds for this payroll have been transferred to Cash—Payroll Bank Account and that this entry has been made. If an amount box does not require an entry, leave it blank. If required, round your intermediate calculations and the final answers to the nearest cent and use the rounded answers in subsequent computations.