a. Into which type of account are employer's payroll contributions entered? i. Asset ii. iii. iv. Expense Revenue Retained Earnings

Q: What account is debited when journalizing the payment of payro Salary Expense Payroll Tax Expense…

A: Payroll Payroll is the procedure for paying employees of an organization. It entails gathering the…

Q: What is the maximum contribution that an employer can make to an employee’s SIMPLE account?

A: A SIMPLE IRA (Savings Incentive Match Plan for Workers) plan enables employees as well as employers…

Q: What payroll taxes is the employer responsible for paying?

A: Employer payroll taxes: The taxes which the employer must pay to the employees with their salaries…

Q: Question 5 Which of the following would be deducted in determining an employee's net pay? O FUTA…

A: Some taxes are deducted by employer from employee salary and paid to the government and net salary…

Q: How to calculate salaries payable

A: Salaries payable can be defined as the liability account containing the amount of salaries, if any,…

Q: How to calculate FIT on payroll register? What is the equation or numbers I am supposed to use to…

A: Before calculating payroll taxes, the employees will need to complete these new employee documents,…

Q: Distinguishing between direct and indirect costs Granger Cards is a manufacturer of greeting cards.…

A:

Q: Which payroll taxes are the responsibility of the employee and which are the responsibility of the…

A: Introduction: Payroll taxes: Payroll taxes are levied on both employers and employees and are…

Q: describe the substantive audit procedures you will perform on  a) payroll transactions in the…

A: Substantive audit procedures, also known as substantive testing or substantive analytical…

Q: How do I account for an advance to an employee and the resulting deduction?

A: An advance to employee means to pay the salary or money to such employee before the due date.

Q: ue or false 2. The amount of income taxes withheld from employee gross pay is an expense to the…

A: The expenses are the costs incurred to earn the revenue for the business and liabilities are the…

Q: Saidina Laum 2. Which payroll tax is levied on both employers and employees?

A: The term "payroll tax" refers to a broad range of taxes that employers are required to pay and, in…

Q: A.    State Income Tax Withholding     B.    Social Security

A: Payroll refers to the form of compensation provided by a company to its employees for the work done…

Q: Record the employer's benefit expense.

A: Payroll taxes are defined as the amounts collected by the government or revenue collection authority…

Q: Which payroll tax is levied on both employers and employees? Both employees and employers are…

A: The payroll tax is required to be remitted to the government on the behalf of employee and is…

Q: Define the term payroll register.

A:

Q: Wage and tax statatement data employer FICA Tax

A: We have the following information: Social Security Tax - 6%Medicare Tax - 1.5%

Q: Describe the costs and the basic accounting activities relating to payrolls?

A: Finance bookkeeping is basically the estimation, the executives, recording, and examination of…

Q: In what account are the employer's payroll taxes recorded?         Payroll Tax…

A: The objective of the question is to identify the account in which an employer's payroll taxes are…

Q: Which of the following is not an employer payroll tax?

A: Federal income tax is the liability of the employee to pay tax on the income and is deductible from…

Q: at is the proper way to record an advance to an employee as well as

A: A salary advance is nothing more than a loan that you can give to an employee. The advance is…

Q: The Internal Revenue Code contains three general categories of currently deductible expenses…

A: THE CATEGORIES WHICH ARE NOT INCLUDED ARE  1. EXPENSES INCURRED FOR PERSONAL EXPENSES 2. EXPENSES…

Q: What purpose does the individual employee earnings record serve?

A:

Q: Which payroll taxes are the employee’s responsibility and which are the employer’s responsibility?

A:

Q: It is a person's earnings before deduction. Salary Wage Gross pay Net pay

A: Employment is one of the major economic activities. Employees get some remuneration from their…

Q: What are the payroll system's general tasks?

A: Payroll is the amount paid by business to the employees in the form of compensation for the given…

Q: When using the discrete view to prepare interim statements, two exceptions that are permitted deal…

A: A company's financial reports for a period less than a complete fiscal year, often a quarter or six…

Q: What are the advantages of using ACH to process payroll as compared to paying employees by cheque.

A: ACHACH = automated clearing houseACH is an electronic network where people are allowed to directly…

Q: Question 13 Which of the following are paid by the employer? ☐ A. SUTA taxes B. FUTA taxes C. Social…

A: Before we answer the question, let's understand what each of these taxes are:SUTA taxes (State…

Q: What functional responsibilities are associated with the payroll cycle?

A: Payroll Cycle: The payroll cycle is commenced with the hiring and dismissal of an employee along…

Q: Which of the following journal entries is recorded for the payment of employees' state income tax…

A: The objective of the question is to identify the correct journal entry for the payment of employees'…

Q: Describe the cost and basic accounting activities related to payroll ?

A: Payroll accounting is just recording the payroll expenses of a business into the final ledger.

Q: The account that should be credited for the total income tax withheld from employee's earnings is o…

A: The objective of the question is to identify the correct account that should be credited when the…