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

Kashi Sales, L.L.C., produces healthy, whole-grain foods such as breakfast cereals, frozen dinners, and granola bars. Assume payroll for the month of January was $500,000 and the following withholdings, fringe benefits, and payroll taxes apply:

Federal and state income tax withheld	$ 135,000
Health insurance premiums (Blue Cross) paid by employer	13,000
Contribution to retirement plan (Fidelity) paid by employer	60,000
FICA tax rate (Social Security and Medicare)	7.65 %
Federal and state unemployment tax rate	6.20 %

Assume that Kashi has paid none of the withholdings or payroll taxes by the end of January (record them as payables).

rev: 11_12_2015_QC_CS-32804

11.

value: 6.00 points

Required information

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.)

eBook & Resources

eBook: Payroll Liabilities

12.

value: 6.00 points

Required information

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.)

rev: 11_12_2015_QC_CS-32804

eBook & Resources

eBook: Payroll Liabilities

13.

value: 6.00 points

Required information

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.)

eBook & Resources

eBook: Payroll Liabilities