College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
22nd Edition
ISBN: 9781305666160
Author: James A. Heintz, Robert W. Parry
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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Chapter 9 Solutions

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)

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