During January,Deluxe Printing pays employee salaries of $1 million.Withholdings in January are $76,500 for the employee portion of FICA,$210,000 for federal and state income tax,and $40,000 for the employee portion of health insurance (payable to Blue Cross/Blue Shield).The company incurs an additional $38,000 for federal and state unemployment tax and $30,000 for the employer portion of health insurance.
1.Record the employee salary expense,withholdings,and salaries payable.
2.Record the employer-provided fringe benefits.
3.Record the employer payroll taxes.

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The Answer of During January,Deluxe Printing pays employee salaries of $1 million.Withholdings in January are $76,500 for the employee portion of FICA,$210,000 for federal and state income tax,and $40,000 for the employee portion of health insurance (payable to Blue Cross/Blue Shield).The company incurs an additional $38,000 for federal and state unemployment tax and $30,000 for the employer portion of health insurance.
1.Record the employee salary expense,withholdings,and salaries payable.
2.Record the employer-provided fringe benefits.
3.Record the employer payroll taxes.

During January,Deluxe Printing Pays Employee Salaries of $1 Million