asked 150k views
2 votes
Samuel's Mexican Restaurant incurred salaries expense of $ 64,000 for 2018. The payroll expense includes employer FICA​ tax, in addition to state unemployment tax and federal unemployment tax. Of the total​ salaries, $ 15,000 is subject to unemployment tax.​ Also, the company provides the following benefits for​ employees: health insurance​ (cost to the​ company, $ 2,100​), life insurance​ (cost to the​ company, $ 320​), and retirement benefits​ (cost to the​ company, 9​% of salaries​ expense).

Required:
a. Journalize Samuel's expenses for employee benefits and for payroll taxes. Explanations are not required.
b. What was Ricardo's total expense for 2018 related to payroll?

asked
User Aneri
by
7.8k points

1 Answer

7 votes

Answer:

SAMUEL's MEXICAN RESTAURANT

Date Description DR CR

2018 Salaries expenses 64,000

Decduction 15,000

cash 49,000

Employee benefit 8,180

Health insurance 2100

Life Insurance 320

Retirement benefit 5760

Step-by-step explanation:

answered
User Rafaelfranca
by
8.0k points
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