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Business, 02.04.2021 20:50 webbjalia04

During January, Luxury Cruise Lines pays employee salaries of $2 million. Withholdings in January are $153,000 for the employee portion of FICA, $300,000 for federal income tax, $125,000 for state income tax, and $20,000 for the employee portion of health insurance (payable to Blue Cross/Blue Shield). The company incurs an additional $124,000 for federal and state unemployment tax and $60,000 for the employer portion of health insurance. Required
Record the employee salary expense, withholdings, and salaries payable.

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During January, Luxury Cruise Lines pays employee salaries of $2 million. Withholdings in January ar...
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