The following totals for the month of April were taken from the payroll records of Metz Company. Salaries $90,000 6,885 FICA taxes withheld Income taxes withheld 19,800 Medical insurance deductions Federal unemployment taxes State unemployment taxes 3,600 720 4,500 The entry to record accrual of employer's payroll taxes would include a OA. credit to FICA Taxes Payable for $5,220. B. debit to Payroll Tax Expense for $12,105. OC. credit to Payroll Tax Expense for $5,220. OD. credit to Payroll Tax Expense for $12,105.
The following totals for the month of April were taken from the payroll records of Metz Company. Salaries $90,000 6,885 FICA taxes withheld Income taxes withheld 19,800 Medical insurance deductions Federal unemployment taxes State unemployment taxes 3,600 720 4,500 The entry to record accrual of employer's payroll taxes would include a OA. credit to FICA Taxes Payable for $5,220. B. debit to Payroll Tax Expense for $12,105. OC. credit to Payroll Tax Expense for $5,220. OD. credit to Payroll Tax Expense for $12,105.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The following totals for the month of April were taken from the payroll records of Metz Company.
Salaries
$90,000
6,885
FICA taxes withheld
Income taxes withheld
19,800
Medical insurance deductions
3,600
Federal unemployment taxes
720
State unemployment taxes
4,500
The entry to record accrual of employer's payroll taxes would include a
OA. credit to FICA Taxes Payable for $5,220.
B. debit to Payroll Tax Expense for $12,105.
C. credit to Payroll Tax Expense for $5,220.
D. credit to Payroll Tax Expense for $12,105.
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