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Caribbean Tours’ total payroll for the month of January was $500,000. The following withholdings, fringe benefits, and payroll taxes apply:

 

   
  Federal and state income tax withheld $ 50,000      
  Health insurance premiums (Blue Cross) paid by employer 9,000      
  Contribution to retirement plan (Fidelity) paid by employer 20,000      
  FICA tax rate (Social Security and Medicare) 7.65 %  
  Federal and state unemployment tax rate 6.20 %  

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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.

 

 4.
value:
1.00 points
 
 

Problem 8-3A Part 1

Required:
1.

Record the employee salary expense, withholdings, and salaries payable. (Omit the “$” sign in your response.)

Date General Journal Debit Credit
  Jan. 31         

Problem 8-3A Part 2

2. Record the employer-provided fringe benefits. (Omit the “$” sign in your response.)

Date General Journal Debit Credit
  Jan. 31       

Problem 8-3A Part 3

3. Record the employer payroll taxes. (Omit the “$” sign in your response.)

Date General Journal Debit Credit
  Jan. 31        [removed]  
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