Exercise 8-8A Record payroll (LO8-3) During January, Luxury Cruise Lines incurs employee salaries of $12 million. Withholdings in January are $91,800 for the employee portion of FICA $180.000 for federal income tax, $75,000 for state income tax, and $12,000 for the employee portion of health Insurance (payable to Blue Cross Blue Shield. The company incurs an additional $74,400 for federal and state unemployment tax and $36,000 for the employer portion of health insurance Required: 1.-3. Record the necessary entries in the Journal Entry Worksheet below. (If no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account field. Enter your answers in dollars, not in millions (ie. 5 should be entered as 5,000,000).) View transaction list Journal entry worksheet 2 3 Record the employee salary expense, withholdings, and salaries payable. Note: Enter debits before credits Date General Journal Debit Credit January 31 Homework Saved LAULURIM uyu During January, Luxury Cruise Lines incurs employee salaries of $12 million. Withholdings in January are $91,800 for the employee portion of FICA, S180,000 for federal income tax, $75,000 for state income tax, and $12,000 for the employee portion of health Insurance (payable to Blue Cross Blue Shield). The company incurs an additional $74,400 for federal and state unemployment tax and $36,000 for the employer portion of health insurance, Required: 1.-3. Record the necessary entries in the Journal Entry Worksheet below. If no entry is required for a particular transaction/event. select "No Journal Entry Required in the first account field. Enter your answers in dollars, not in millions (.e. 5 should be entered as 5,000,000).) View transaction list Journal entry worksheet Record the employer provided fringe benefits. Note: Enter debits before credits Date General Journal Debit Credit January 31 Record en Clear entry View general journal SUNIL SOLID SU UR U SI W Cancel Subscript Et Homework Saved LAULURULUI puy. During January, Luxury Cruise Lines Incurs employee salaries of $12 million. Withholdings in January are $91.800 for the employee portion of FICA $180,000 for federal income tax, $75,000 for state income tax, and $12,000 for the employee portion of health insurance (payable to Blue Cross Blue Shield). The company incurs an additional $74,400 for federal and state unemployment tax and $36,000 for the employer portion of health insurance Required: 1.-3. Record the necessary entries in the Journal Entry Worksheet below. (If no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account field. Enter your answers in dollars, not in millions (.e. 5 should be entered as 5,000,000).) View transaction list Journal entry worksheet Record the employer payroll taxes. Note: Enter det before credits Date General Journal Debit Credit January 31 Record entry Clear entry View general Journal
