Match each payroll item that follows to the one item (a–f) that best describes its characteristics. - a. b. c. d. e. f. Federal income tax - a. b. c. d. e. f. FICA —Social security - a. b. c. d. e. f. FICA —Medicare - a. b. c. d. e. f. Federal unemployment compensation tax (FUTA) - a. b. c. d. e. f. State unemployment compensation tax (SUTA) a. Amount is limited, withheld from employee only b. Amount is limited, withheld from employee and matched by employer c. Amount is limited, paid by employer only d. Amount is not limited, withheld from employee only e. Amount is not limited, withheld from employee and matched by employer f. Amount is not limited, paid by employer only

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Match each payroll item that follows to the one item (a–f) that best describes its characteristics.

- a. b. c. d. e. f.	Federal income tax
- a. b. c. d. e. f.	FICA —Social security
- a. b. c. d. e. f.	FICA —Medicare
- a. b. c. d. e. f.	Federal unemployment compensation tax (FUTA)
- a. b. c. d. e. f.	State unemployment compensation tax (SUTA)

a.	Amount is limited, withheld from employee only
b.	Amount is limited, withheld from employee and matched by employer
c.	Amount is limited, paid by employer only
d.	Amount is not limited, withheld from employee only
e.	Amount is not limited, withheld from employee and matched by employer
f.	Amount is not limited, paid by employer only

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