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$128,000 12,300 53,000 7.659 6.201 Assume payroll for Kicker Sound Systems for the month of January was $430,000 and the following withholdings, fringe benefits
$128,000 12,300 53,000 7.659 6.201 Assume payroll for Kicker Sound Systems for the month of January was $430,000 and the following withholdings, fringe benefits payroll taxes apply: Federal and state income tax withheld Sealth insurance premiums (Blue Cross) paid by employer Contribution to retirement plan (Fidelity) paid by employer FICA tax rate (Social Security and Medicare) Federal and state unemployment tax rate Assume that Kicker has paid none of the withholdings or payroll taxes by the end of January (record them as payables), and no employee's cumulative wages exceed the relevant wage bases. Required: 1. Record the employee salary expense, withholdings, and salaries payable. 2. Record the employer-provided fringe benefits. 3. Record the employer payroll taxes. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 2 Record the employee salary expense, withholdings, and salaries payable.. Note: Enter debits before creat Date January 31 N W S # 93 General Journal Debit Credi < Prev 34 Next > MacBook Pro 0 $ 54 G Search or type URL % 96 5 > G Y 27 t 8 .00 U 6 O 0 H J K B N M cprvyce story Capers, winnings, un suonies pay Record the employer-provided fringe benefits. Record the employer payroll taxes. no entry is required for a transaction/event, select "No Journal Entry Required" in the fim View transaction list Journal entry worksheet < 1 2 3 Record the employee salary expense, withholdings, and salaries payable. Note: Enter debits before credits. Date January 31 General Journal Debit Credit Record entry Clear entry View general journal > < Prev 3 of 4 Next > MacBook Pro nere employou surry unperin mundings, un suurin poyo. . Record the employer-provided fringe benefits. . Record the employer payroll taxes. If no entry is required for a transaction/event, select "No Journal Entry Required" in the F View transaction list Journal entry worksheet < 3 Record the employer-provided fringe benefits. Note: Enter debits before credits. Date January 31 General Journal Debit Credit Record entry Clear entry View general journal < Prev 3 of 4 Next > MacBook Pro core we employee suivry experial, munnurinya, un suures puyou. - Record the employer-provided fringe benefits. Record the employer payroll taxes. f no entry is required for a transaction/event, select "No Journal Entry Required" in the fir View transaction list Journal entry worksheet < 1 2 3 Record the employer payroll taxes. Note: Enter debits before credits. Date: January 31 General Journal Debit Credit Record entry Clear entry View general journal < Prev 3 of 4 Next > MacBook Pro
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