Question

identify the list of accounts below that would normally all have a credit balance

payroll taxes expenses,state unemployment tax payable, wages payable

2. workers compensationinsurance expense, prepaid insurancemedicare tax payable

3 workers compensation insurance payable, salaries payable, salaries expense

4 social security tax payable, medicare tax payable, employee income tax payable

Answer 1

Identify the list of accounts below that would normally all have a credit balance It is not clear that it is a multiple choice question, framing of question giving hint. The question is below solved expense wise seperately Credit Balance- S.No. Expense Normally Payroll taxes expenses No State unemployment tax payable Yes Wages payable Yes Workers compensation No Insurance expense No Prepaid insurance Medicare tax payable Yes Workers compensation No Insurance payable Yes Salaries payable Yes Salaries expense No Social security tax payable Yes Medicare tax payable Yes Employee income tax payable Yes No ini)