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For this peoblem i need to: 1. Record the employee salary expense,withholdings, and salaries payable. 2.Record the employer-provided fringe benefits. 3. Record the employer payroll
For this peoblem i need to:
Emily Turnbull, president of Gold Coast Equipment Corporation, is concerned about her employees' well-being. The company offers its employees free medical, dental, and life insurance coverage. it aiso matches employee contributions to a voluntary retirement plan up to 5% 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: 1. Record the employee salary expense, withholdings, and salarles payoble. 2. Record the employer-provided fringe benefits: 3. Record the employer payroll taxes. Record the necessary entry for the scenarios given above. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record the employee salary expense, withholdings, and saluries paryable. Note: Enter detits before credis. Emily Tumbult, president of Gold Coast 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 o voluntary retirement plan up to 5% 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: 1. Record the employee salary expense, withholdings, and salaries payable. 2. Record the employer-provided fringe benefits. 3. Record the employer payroll taxes. Record the necessary entry for the scenarios given above. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record the employer-provided fringe benefits. Note: Enter debits before credta. Emily Turnbull, president of Gold Coast Equipment Corporation, is concerned about her employees' wellbeing. The company offers its employees free medical, dental, and life insurance coverage. It also matches employee contributions to a voluntary retirement plan up to 5% of their salaries. Assume that no employee's cumulotive wages exceed the relevant wage bases. Payroil information for the blweekly paytoll period ending January 24 is listed below. Required: 1. Record the employee salary expense, withtioldings, and salaries payable. 2. Record the employer-provided fringe benefits. 3. Record the employer payroli taxes. Record the necessary entry for the scenarios given above. (If no entry is required for a transaction/event, select "No Joumal Entry Required" in the first occount field.) Journal entry worksheet Note: foter dobits belpre crocta 1. Record the employee salary expense,withholdings, and salaries payable.
2.Record the employer-provided fringe benefits.
3. Record the employer payroll taxes.
I was also wondering if you could show the calculations of the numbers to show how you got there because im super lost. Thank you!!
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