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Business, 25.06.2020 02:01 Will1119

During January, Luxury Cruise Lines incurs employee salaries of $2.2 million. Withholdings in January are $168,300 for the employee portion of FICA, $330,000 for federal income tax, $137,500 for state income tax, and $22,000 for the employee portion of health insurance (payable to Blue Cross Blue Shield). The company incurs an additional $136,400 for federal and state unemployment tax and $66,000 for the employer portion of health insurance. Required:
a. Record the employee salary expense, withholdings, and salaries payable.
b. Record the employer-provided fringe benefits.
c. Record the employer payroll taxes.

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During January, Luxury Cruise Lines incurs employee salaries of $2.2 million. Withholdings in Januar...
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