Journalizing Fringe Benefit Entries for Payroll Accounting: A Step-by-Step Example

The video tutorial explains how to journalize accrued benefits entries for an employee, Miss Crews, at a uniform company. It covers health benefits, retirement matching, and vacation accruals, detailing how to record these as expenses and payables. The tutorial also distinguishes between mandatory payroll taxes and optional fringe benefits, providing a comprehensive example of payroll tax journal entries.

What are the three types of expenses that uniform company is offering to Miss Crews?

How much does uniform company pay for Miss Crews' health insurance premiums?

What percentage of retirement benefits does uniform company match for Miss Crews?

How many vacation days does Miss Crews accrue for each month worked?

What is the total amount recorded for vacation benefits expense for Miss Crews?