If an insurance expense is incurred in February but was paid in January, the journal entry recorded in January is

Journalize each of the payroll transactions listed below. Post all entries except the last two to the appropriate general ledger accounts. The journal page and the ledger accounts are supplied below. The balances listed in the general ledger accounts for Cash, FUTA Taxes Payable, SUTA Taxes Payable, Employees SIT Payable, Wages and Salaries, and Payroll Taxes are the results of all payroll transactions for the first quarter, not including the last pay of the quarter. The balances in FICA Taxes Payable—OASDI, FICA Taxes Payable—HI, and Employees FIT Payable are the amounts due from the March 15 payroll. March 31, 20--: Paid total wages of $9,350.00. These are the wages for the last semimonthly pay of March. All of this amount is taxable under FICA (OASDI and HI). In addition, withhold $1,175 for federal income taxes and $102.03 for state income taxes. These are the only deductions made from the employees' wages. March 31, 20--: Record the employer's payroll taxes for the last pay in…

Employers can deduct unpaid renumeration for tax purposes in a taxation year a. if paid within 180 days of the taxation year. b. if paid within 250 days of the taxation year. c. if paid 365 days of the taxation year. d. if paid within two years of the taxation year.

FICA taxes are a. paid by both the employer and employee b. part of the overhead c. the employment development department d. assets which are normally kept for more than one year