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Author Question: The entry to record the employer's payroll taxes includes a a. credit to Employees' Federal Income ... (Read 76 times)

meagbuch

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The entry to record the employer's payroll taxes includes a
 a. credit to Employees' Federal Income Tax Payable.
  b. debit to FICA Tax Expense.
  c. debit to Salaries Payable.
  d. credit to FICA Tax Payable.
  e. debit to Federal Unemployment Tax Payable.

Question 2

Robert Martin's gross earnings for the week ended December 20 amount to 2,200 . His cumulative gross earnings for the year up through the last pay period amount to 91,500 . If the FICA tax rate is 6.2 percent for Social Security, with a limit of 113,700, and 1.45 percent for Medicare, applied to all earnings, the total FICA tax to be withheld is
 a. 168.30.
  b. 136.40.
  c. 31.90.
  d. 290.00.
  e. 124.00.



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SomethingSomething

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Answer to Question 1

D

Answer to Question 2

A




meagbuch

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Reply 2 on: Jul 6, 2018
Excellent


shewald78

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Reply 3 on: Yesterday
:D TYSM

 

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