Problem 8 3A Record payroll (LO3) The following information applies to the questions displayed below Caribbean Tours' total payroll for the month of January was $560,000 The following withholdings, fringe benefits, and payroll taxes apply Federal and state income tax withheld $ 56,000 Health insurance premiums ( Blue Cross ) paid by employer 10,080 Contribution to retirement plan ( Fidelity ) paid by employer 22,400 FICA tax rate (Social Security and Medicare) 7 65 Federal and state unemployment tax rate 6 20 Assume that none of the withholdings or payroll taxes has been paid by the end of January (record them as payables), and no employee's cumulative wages exceed the relevant wage bases References Section Break Problem 8 3A Record payroll (LO3) 3 value 3 00 points Required information Problem 8 3A Part 1 Required 1 Record the employee salary expense, withholdings, and salaries payable (If no entry is required for a transaction event, select No journal entry required in the first account field ) References eBook Resources Problem A Difficulty Medium Problem 8 3A Part 1 Learning Objective 08 03 Account for employee and employer payroll liabilities Check my work 4 value 3 00 points Required information Problem 8 3A Part 2 2 Record the employer provided fringe benefits (If no entry is required for a transaction event, select No journal entry required in the first account field ) References eBook Resources Problem A Difficulty Medium Problem 8 3A Part 2 Learning Objective 08 03 Account for employee and employer payroll liabilities Check my work 5 value 3 00 points Required information Problem 8 3A Part 3 3 Record the employer payroll taxes (If no entry is required for a transaction event, select No journal entry required in the first account field )

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Problem 8-3A Record payroll (LO3) [The following information applies to the questions displayed below.] Caribbean Tours' total payroll for the month of January was $560,000.

Problem 8-3A Record payroll (LO3)

[The following information applies to the questions displayed below.]

Caribbean Tours' total payroll for the month of January was $560,000. The following withholdings, fringe benefits, and payroll taxes apply:


Federal and state income tax withheld	$ 56,000
Health insurance premiums (Blue Cross) paid by employer	10,080
Contribution to retirement plan (Fidelity) paid by employer	22,400
FICA tax rate (Social Security and Medicare)	7.65 %
Federal and state unemployment tax rate	6.20 %

Assume that none of the withholdings or payroll taxes has been paid by the end of January (record them as payables), and no employee's cumulative wages exceed the relevant wage bases.

References

Section BreakProblem 8-3A Record payroll (LO3)

value: 3.00 points

Required information

Problem 8-3A Part 1

Required:
1.	Record the employee salary expense, withholdings, and salaries payable. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

References

eBook & Resources

Problem ADifficulty: Medium

Problem 8-3A Part 1Learning Objective: 08-03 Account for employee and employer payroll liabilities.

Check my work

value: 3.00 points

Required information

Problem 8-3A Part 2

2.	Record the employer-provided fringe benefits. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

References

eBook & Resources

Problem ADifficulty: Medium

Problem 8-3A Part 2Learning Objective: 08-03 Account for employee and employer payroll liabilities.

Check my work

value: 3.00 points

Required information

Problem 8-3A Part 3

3.	Record the employer payroll taxes. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)