Question: Chapter Eight Regular Homework (i) Saved Help Save & Exit Submit 4 During January, Luxury Cruise Lines incurs employee salaries of $2.5 million. Withholdings in
Chapter Eight Regular Homework (i) Saved Help Save & Exit Submit 4 During January, Luxury Cruise Lines incurs employee salaries of $2.5 million. Withholdings in January are $191,250 for the employee portion of FICA, and $531,250 for employee federal and state. The company incurs an additional $155,000 for federal and state unemployment tax and $75,000 for the employer portion of health insurance (fringe benefits payable to Blue Cross Blue Shield). 1 points Skipped sAlook: Hint. Priat Referencen Required: to 3. Record the necessary entries in the Journal Entry Worksheet below. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in dollars, not in millions (i.e. 5 millio
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