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What was Dylan total expense related to payroll

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Question - Dylan's Mexican Restaurant incurred salaries expense of $63,000 for 2024. The payroll expense includes employer FICA tax, in addition to state unemployment tax and federal unemployment tax. Of the total salaries, $21,000 is subject to unemployment tax. Also, the company provides the following benefits for employees: health insurance (cost to the company, $2,800), life insurance (cost to the company, $300), and retirement benefits (cost to the company, 5% of salaries expense).

Required -

1. Journalize Dylan's expenses for employee benefits and for payroll taxes. Explanations are not required.

2. What was Dylan's total expense for 2024 related to payroll?

Reference no: EM132973873

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