Diablo's Mexican Restaurant incurred sales expense of $69.000 for 2018. The payroll experts include employer FICA tax, induction to state unemployment tax and federal unemployment of the ones 1600 subject to unemployment tax. Also, the company provides the following benefits for employees health insurance cost to the company 2500 Menance cost to the company 53201 and retirement benefits cost to the company, 7% of salaries expense)
A Click the icon to wao m on) Read the requirements d Requirement 1. Journal Duble's expenses for employee benefits and for payroll Begin with the entry to creato's employer payrolls (Round amount to the Accounts De Explanations are nor recent Recorde Credit rs, the credits Exclude explanations to jump ) Choose from a Checker story burnout for 2018. The payroll expense includes employer FICA tax, in addition to state unemployment tax an wing benefits for employees: health insurance (cost to the company, $2,500), life insurance (cost to the * More Info
For all payroll calculations, use the following tax rates and round amounts to the nearest cent: Ouma Employee: Employer. OASDI: 6.2% on first $118.500 earned: Medicare: 1.45% up to $200,000, 2.35% on earnings above $200,000. OASDI: 6.2% on first $118.500 earned per employee: Medicare: 1.45% on all earnings, FUTA: 0.6% on first $7,000 earned per employee; SUTA: 5.4% on first $7.000 earned per employee. Print Done a then click Check Answer Clear All.