Business
Business, 27.03.2021 02:40, Nobleufia

During January, Luxury Cruise Lines incurs employee salaries of $1.3 million. Withholdings in January are $99,450 for the employee portion of FICA, $195,000 for federal income tax, $81,250 for state income tax, and $13,000 for the employee portion of health insurance (payable to Blue Cross/Blue Shield). The company incurs an additional $80,600 for federal and state unemployment tax and $39,000 for the employer portion of health insurance. Required:
Record the necessary journal entries.

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During January, Luxury Cruise Lines incurs employee salaries of $1.3 million. Withholdings in Januar...

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