The following totals for the month of April were taken from the payroll register of Sheffield Company. Salaries and wages FICA taxes withheld Income taxes withheld Medical insurance deductions Federal unemployment taxes State unemployment taxes $72100 5508 15600 2710 195 1294 The entry to record the accrual of federal unemployment taxes would include a O credit to Federal Unemployment Taxes Payable for $195. O debit to Federal Unemployment Taxes Expense for $195. O debit to Federal Unemployment Taxes Payable for $195. O credit to Payroll Tax Expense for $195.
The following totals for the month of April were taken from the payroll register of Sheffield Company. Salaries and wages FICA taxes withheld Income taxes withheld Medical insurance deductions Federal unemployment taxes State unemployment taxes $72100 5508 15600 2710 195 1294 The entry to record the accrual of federal unemployment taxes would include a O credit to Federal Unemployment Taxes Payable for $195. O debit to Federal Unemployment Taxes Expense for $195. O debit to Federal Unemployment Taxes Payable for $195. O credit to Payroll Tax Expense for $195.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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H2.
Transcribed Image Text:The following totals for the month of April were taken from the payroll register of Sheffield Company.
Salaries and wages
FICA taxes withheld
Income taxes withheld
Medical insurance deductions
Federal unemployment taxes
State unemployment taxes
$72100
5508
15600
2710
195
1294
The entry to record the accrual of federal unemployment taxes would include a
O credit to Federal Unemployment Taxes Payable for $195.
debit to Federal Unemployment Taxes Expense for $195.
debit to Federal Unemployment Taxes Payable for $195.
O credit to Payroll Tax Expense for $195.
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