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Emily Tumbull, president of Yoga Equipment Corporation, is concerned about her employees' well-being. The company offers its employees free medical, dental, and life insurance coverage.
Emily Tumbull, president of Yoga Equipment Corporation, is concerned about her employees' well-being. The company offers its employees free medical, dental, and life insurance coverage. It also matches employee contributions to a voluntary retirement plan up to 6% of their salaries. Assume that no employee's cumulative wages exceed the relevant wage bases. Payroll information for the biweekly payroll period ending January 24 is listed below. Required: Record the employee salary expense, withholdings, and salaries payable. Record the employer-provided fringe benefits. Record the employer payroll taxes. ecord the necessary entry for the scenarios given above. (If no entry is required for a transaction/event, select "No Journal Entry equired" in the first account field.)
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