The following totals for the month of April were taken from the payroll records of Sunland...
The following totals for the month of April were taken from the payroll records of Sunland Company.
| Salaries | $115200 |
| FICA taxes withheld | 8810 |
| Income taxes withheld | 24000 |
| Medical insurance deductions | 4300 |
| Federal unemployment taxes | 310 |
| State unemployment taxes | 2070 |
The entry to record accrual of employer’s payroll taxes would include a
|
A |
debit to Payroll Tax Expense for $2380. |
|
B |
credit to FICA Taxes Payable for $17620. |
|
C |
debit to Payroll Tax Expense for $11190. |
|
D |
credit to Payroll Tax Expense for $2380. |
Homework Answers
| Answer | ||
|
The entry to record employer's payroll tax is: |
||
| Debit | Credit | |
| Payroll tax expense | $ 11,190 | |
| FICA taxes payable | $ 8,810 | |
| Federal Unemployment taxes payable | $ 310 | |
| State Unemployment taxes payable | $ 2,070 | |
| debit to Payroll Tax expense for $11,190 | ||
| Option C is correct | ||
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