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a. b. c. Thank you !!! The two employees of Silver Co. receive various fringe benefits. Silver Co. provides vacation at the rate of $335
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b.c.Thank you !!!
The two employees of Silver Co. receive various fringe benefits. Silver Co. provides vacation at the rate of $335 per day. Each employee earns one day of vacation per month worked. In addition, Silver Co. pays a total amount of $690 per month in medical insurance premiums. Silver also contributes a total amount of $440 per month into an employee retirement plan. The federal unemployment tax rate is 6%, while the state tax rate is 4%. Unemployment taxes apply to the first $7,000 of earnings per employee. Assume a Social Security tax rate of 6% and a Medicare tax rate of 1.5%. Prepare the monthly journal entry for the accrued fringe benefits. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheetStep by Step Solution
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