Sierra Blanca Co. is required to match $82,620 for its portion of FICA and $8,460 for federal and state unemployment taxes. The entry to record Sierra Blanca's payroll taxes includes:
A. debit to Payroll Tax Expense for $91,080.
B. debit to Unemployment Tax Payable of $8,460.
C. credit to Payroll Tax Expense for $91,080.
D. debit to FICA Payable for $82,620.
Answer: A
You might also like to view...
A search engine is the primary method most consumers use to discover new websites and to search for information
Indicate whether the statement is true or false
A ________ security can be sold to another investor.
A. marketable B. idiosyncratic C. nonmarketable D. systematic
Only certain specified individuals, and not members of the general public, can be incidental beneficiaries of contracts.
Answer the following statement true (T) or false (F)
Katrina Mendoza is a senior manager in a manufacturing firm that hires lobbyists to influence legislation that affects the manufacturing industry. Katrina's firm takes a(n) ________ stance toward the marketing environment
A) reactive B) proactive C) adversarial D) passive E) altruistic