problem 8-4b record payroll

1) record the employee salary expense, withholdings and salaries payable.

2) record the employer-provided fringe benefits

3) record the employer payroll taxes

connect.htm 8 Homework (Algo) Saved Help Save & Exit Check m Problem 8-48 Record payroll (LO8-3) Emily Turnbull, president of Aerobic 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 a voluntary retirement plan up to 7 % 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. Wages and salaries Employee contribution to voluntary retirement plan Medical insurance premiums paid by employer Dental insurance preniume paid by enployer Life insurance premiuna paid by employer Federal and state incone tax withheld FICA tax rate Federal and atate unemployment tax rate $2,100,000 105,000 42,000 14,700 7,350 451,500 7.65 6.20 Required: 1, 2. & 3. Record the necessary journal entries. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 2 1 Record the employee salary expense, withholdings, and salaries payable. Note: Enter debits before credits