College accounting, chapters 1-9
College accounting, chapters 1-9
23rd Edition
ISBN: 9781337794787
Author: HEINTZ, James A.
Publisher: Cengage Learning,
Question
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Chapter 9, Problem 1TF
To determine

Identify whether the statement is true or false.

Expert Solution & Answer
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Answer to Problem 1TF

False statement

Explanation of Solution

Employer payroll tax will be deducted from the employer’s pay. The tax imposed on the payroll of the employers consists of employer’s contribution to the FICA (Federal Insurance Contributions Act) taxes of the employees, FUTA (Federal Unemployment Tax Act) and SUTA (State Unemployment Tax Act).

Therefore, the give statement “Employer payroll taxes are deducted from the employee’s pay” is False.

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