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I also need Record the employer-provided fringe benefits and Record the employer payroll taxes. 6 During January, Luxury Cruise Lines incurs employee salaries of $1.7
I also need Record the employer-provided fringe benefits and Record the employer payroll taxes.
6 During January, Luxury Cruise Lines incurs employee salaries of $1.7 million. Withholdings in January are $130,050 for the employee portion of FICA, $255,000 for federal income tax, $106,250 for state income tax, and $17,000 for the employee portion of health insurance (payable to Blue Cross Blue Shield). The company incurs an additional $105,400 for federal and state unemployment tax and $51,000 for the employer portion of health insurance. 1 points Skipped 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 (i.e. 5 should be entered as 5,000,000).) eBook View transaction list ot Hint Journal entry worksheet Print Record the employee salary expense, withholdings, and salaries payable. References Note: Enter debits before credits. Date Debit Credit January 31 General Journal Salaries Expense Income Tax Payable Income Tax Payable Record entry Clear entry View general journalStep by Step Solution
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