According to a summary of the payroll of Scotland Company, $450,000 was subject to the 6.0% social security taxand $500,000 was subject to the 1.5% Medicare tax. Federal income tax withheld was $98,000 . Also, $15,000 wassubject to state (4.2%) and federal (0.8%) unemployment taxes. The journal entry to record accrued payroll taxeswould include a
a. debit to SUTA Payable of $630
b. debit to SUTA Payable of $18,900
c. credit to SUTA Payable of $630
d. credit to SUTA Payable of $18,900
c
You might also like to view...
Criteria refer to the standards used to make
a. sure that a deadline is met. b. a decision. c. a change occur. d. something out of nothing.
Which of the following is a product cost?
A) Insurance on factory machinery B) Insurance on delivery trucks C) Lease expense on office computer D) Advertising costs
When an employee is injured on the job, that employee may: I. File a worker's compensation claim and accept the government-determined value for the injury. II. File a tort claim in state court to recover damages above the worker's compensation amount. III. File a complaint with OSHA to have the employer investigated and charged if violations are present
a. I only b. I and II only c. III only d. I and III only
What annual rate of return would Jia need to earn if she deposits $20,000 per year into an account beginning one year from today in order to have a total of $1,000,000 in 30 years?
A) 2.3% B) 3.3% C) 1.3% D) 4.3%