To journalize the employer's payroll taxes, we need to credit all of the following accounts EXCEPT
A. Payroll Taxes Expense.
B. Social Security Tax Payable.
C. Medicare Tax Payable.
D. FUTA Tax Payable.
Answer: A
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______________occurs when information is not passed on to the supervisor.
a. Gatekeeping b. Summarization c. General distortion d. Withholding
Assume a company uses the periodic inventory system and has a beginning merchandise inventory balance of $5,000, purchases of $75,000, and sales of $125,000 . The company closes its records once a year on December 31 . In the accounting records, the merchandise inventory account would be expected to have a balance on December 31 prior to adjusting and closing entries that was
a. indeterminate. b. less than $5,000. c. more than $5,000. d. equal to $5,000.
Amortization is the expensing of:
A. equipment and buildings. B. land. C. supplies. D. long-term assets that lack physical substance.
Briefly describe the eight steps in the business buying process
What will be an ideal response?