Question

Pablo's Mexican Restaurant incurred salaries expense of $61,000 for 2018. The payroll expense includes employer FICA tax, in addition to state unemployment tax and federal unemployment tax. Of the total salaries, $20,000 is subject to unemployment tax. Also, the company provides the following benefits for employees: health insurance (cost to the company, $2,300), life insurance (cost to the company, $400), and retirement benefits (cost to the company, 6 % of salaries expense). (Click the icon to view payroll tax rate information.) Read the equirements

Answer 1

Pablo's mexican Restaurant ROOL Date Debit caedit. Account Name Payroll Tax Expense $ 5866.5 TO FICA-CASDI Taxes payable S 3782 TO FICA-medicaal Teixes payable 884.5 TO Federal unemployment taxes payable 120 70 State Unemployment Taxes payable 1080 CTO de cord employers pay 2011 tax expense) Employee Benefit expense $ 6360 TO Employee Health Insurance payable TO Employee Ir'fe Insurance payable TO Employee Retirement Benet payable IC TO Accrual of employee benefit expensel $ 2300 400 3660 Explanahon (9) $ 61000 X 6.21 (6) $61000X 1.451 OF 20000 X 0.67 (a $20000 X 5.4% = - > - $3782 884.5 120 1080 payroll Tox expense - C 63 782 +884.s +120 +1080] 5866.5 ce $ 2300 of $ 400 9 $ 61000X (Griven). (given) 60% = $3660 bloyee Beneft EXP C 2300+ 400 + 36 60 6360

Rog 21 TOTO EXPense: 61000 salary expense payroll Tax Expense Employee Benefit expense 5866.5 6360 TOTCH Expense 173226.50 (If we round it off amount would be s 73227] 22