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help me with this In Oregon, employers who are covered by the state workers' compensation law withhold employee contributions from the wigns of covered employees
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In Oregon, employers who are covered by the state workers' compensation law withhold employee contributions from the wigns of covered employees for the workers' benefit fund at the rate of 1.14 for each hour or part of an hour that the worker is employed. Every covered employer is also assessed 1.14 per hour for each worker employed for each hour or part of an hour. The employer-emplayee contributions for workers' compensation are collected monthly, quarterly, or annually by the employer's insurance carrier, according to a schedule agreed upon by the employer and the carrier. The insurance carrier remits the contributions to the state's Workers' Compensation Department. Cortez Company, a covered employer in Oregon, turns over the employer-employee workers' compensation contributions to its insurance carrier by the 15 th of each month for the preceding month. During the month of July, the number of full-time employee-hours worked by the company's employees was 8,270 ; the number of part-time employee-hours was 1,950 . a. The amount the company should have withheld from its full- and part-time employees during the month of July for workers' compensation insurance is: (Round your answer to the nearest cent.) b. The title you would give to the general ledger liability account to which the amount withheld from the employees' earnings would be credited is: Workers' Compensation Insurance Collected c. Journalize the entry on July 31 to record the employer's liability for workers' compensation insurance for the month. If an amount box does not require an entry, leave it blank. Round your answers to the nearest cent. d. Journalize the entry on August 15 to record payment to the insurance camier of the amount withheld from the employees' earnings fori workers' compensation insurance and the amount of the employer's llability. If an amount box does not require an entry, leave it blank. Round your answers to the nearest cent Step by Step Solution
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