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The following data were provided by the detailed payroll records of Strebel Company for the month of March, 2021: $ Wages Social Security Tax Medicare
The following data were provided by the detailed payroll records of Strebel Company for the month of March, 2021: $ Wages Social Security Tax Medicare Tax Federal Withholding Tax State Withholding Tax Retirement Plan Contribution - Fidelity Health Insurance Union Dues 400,000 ? ? 120,000 24,000 21,000 25,000 2,000 Social Security taxes at a 6.2% rate (no employees had reached the maximum). Medicare taxes at a 1.45% rate. The Company matches 100% of the employees' retirement plan contribution. The Company subsidizes the Health Insurance Plan by paying 60% of the premium. Required: 1. Give the March 31, 2021 journal entry to record the payroll and the related employee deductions. 2. Give the March 31, 2021 journal entry to record the employer's FICA (SS) and Medicare payroll tax expense. 3. Give the March 31, 2021 journal entry to record the employer's monthly payment to Fidelity (includes both the employee and employer portion assuming a full match on the entire March contribution). 4. Give the March 31, 2021 journal entry to record the employer's monthly payment to Blue Cross (includes both the employee and employer portions)
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