Which of the following taxes would not be included in payroll tax expense of an employer? A. Federal unemployment taxes B. Employer FICA-Social Security taxes C. Income tax withholdings D. State unemployment taxes E. Employer FICA-Medicare taxes
Which of the following taxes would not be included in payroll tax expense of an employer?...
Which of the following taxes would NOT be included in the total payroll tax expense the employer is responsible for paying? Employer Social Security taxes Employer Medicare taxes Federal and state income tax State unemployment taxes Federal unemployment taxes
A. Which of the following is not a payroll tax expense to the employer? State unemployment taxes. B. Federal unemployment taxes. Social Security and Medicare taxes. Federal income taxes withheld from employee paychecks.
Which of the following is not a current liability? Sales tax payable; Payroll taxes payable; c. Unearned revenues; D. Allowance for doubtful accounts. B. Which of the following is not a current liability? Discount on Bonds Payable due in 7 years; Wages Payable; Estimated Warranty Payable for items sold with a one year warranty: Out of court litigation settlement liability due to be paid next month. B. Page 2 of 6 Which of the following is not a payroll tax...
under U.S. rules Which of the following are not included in an employer's payroll tax expense? Employer portion of FICA taxes. ·Federal unemployment taxes. O State unemployment taxes O State income taxes.
A,B and C only I dyTUI need A. wing is a tax borne by the employer but not the employee? Which of the following is a tax bor a. State income tax b. FUTA tax c. Medicare tax Social security tax d. nas gross earnings of $600 and withholdings of $45.90 for social security and Media for income taxes. The employer pays $45.90 for social security and Medicare An employee has gross earnings o care taxes and $60 for income...
Note whether each expense is part of Salary expense and/or Payroll tax & related expenses: Employee health insurance portion Employer contribution to pension Union dues State & Federal Income Tax State & Federal Unemployment Tax FICA (Social Security & Medicare) A. Salary/Wage Expense B. Payroll tax & related expenses C. Salary/wage expense & Payroll tax & related expense
Discuss which payroll taxes are the responsibility of the employee and which are the responsibility of the employer. Be certain to include how you would record these entries. Joe is paid, in cash, $1,000 for the week just ended. Use the following information to determine Joe's take home pay and the total payroll, federal and state, tax expense for the company Joe works for. Federal Income tax 3% of gross pay State Income tax 2% of gross pay Social Security...
1. Which of the following payroll taxes are paid ONLY by the employer on payroll? a. federal income taxes b. social security taxes c. state unemployment taxes 2. Revenue expenditures are? a. are know as balance sheet expenditures b. additional cost of plant assets that do not increase assets life or productivity c. are debited to asset accounts
Problem: The following payroll liability accounts are included in the ledger of Armitage Company on January 1. FICA-SS Taxes Payable FICA-Medicare Payable Federal Income Taxes Payable State Income Taxes Payable Federal Unemployment Taxes Payable State Unemployment Taxes Payable Union Dues Payable U.S. Savings Bonds Payable $ 615.60 144.40 1,204.60 108.95 288.95 1,954.40 870.00 360.00 In January, the following transactions occurred. Jan. 10 Sent check for $870.00 to union treasurer for union dues. Deposited check for $1,964.60 in Federal Reserve bank...
2nd Journal ENtry : Record the employer payroll taxes. Midwest Shipping pays employees at the end of each month. Payroll Information is listed below for January, the first month of the fiscal year. Assume that none of the employees exceeds the Federal unemployment tax maximum salary of $7,000 in January. Salaries Federal and state income taxes withheld Federal unemployment tax rate State unemployment tax rate (after FUTA deduction) Social Security (FICA) tax rate $800.000 179.000 0.885 5.4.06 7.65% Record salarles...