College Accounting (Book Only): A Career Approach
13th Edition
ISBN: 9781337280570
Author: Scott, Cathy J.
Publisher: South-Western College Pub
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Chapter 8, Problem 3QY
To determine
Identify the entry for the payment of state
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Employee payroll taxes do not include:
a) Federal unemployment taxes.
b) State Income taxes.
c ) Federal income taxes.
d ) FICA taxes.
Which of the following journal entries is recorded in a general journal for the payment of the State Unemployment Tax?
a. A debit to State Unemployment Tax Payable and a credit to State Unemployment Tax Expense
b. A debit to Cash and a credit to State Unemployment Tax Payable
c. A debit to State Unemployment Tax Expense and a credit to State Unemployment Tax Payable
d. A debit to State Unemployment Tax Payable and a credit to Cash
Answer the following questions.
(a)
Which of the following would appear on payroll tax Form 941?
State unemployment tax
State Income tax
Federal unemployment tax
Gross earnings
Federal Income tax
Employer FICA tax
Employee FICA tax
Chapter 8 Solutions
College Accounting (Book Only): A Career Approach
Ch. 8 - Prob. 1QYCh. 8 - Prob. 2QYCh. 8 - Prob. 3QYCh. 8 - Prob. 4QYCh. 8 - Prob. 5QYCh. 8 - Prob. 6QYCh. 8 - Prob. 7QYCh. 8 - Prob. 8QYCh. 8 - Prob. 9QYCh. 8 - Prob. 1DQ
Ch. 8 - Prob. 2DQCh. 8 - Prob. 3DQCh. 8 - Prob. 4DQCh. 8 - Prob. 5DQCh. 8 - Prob. 6DQCh. 8 - Prob. 7DQCh. 8 - Prob. 8DQCh. 8 - Prob. 9DQCh. 8 - Prob. 1ECh. 8 - Prob. 2ECh. 8 - Prob. 3ECh. 8 - Prob. 4ECh. 8 - Prob. 5ECh. 8 - On September 30, Cody Companys selected account...Ch. 8 - On September 30, Hilltop Companys selected payroll...Ch. 8 - Prob. 8ECh. 8 - Prob. 1PACh. 8 - Prob. 2PACh. 8 - Prob. 3PACh. 8 - Prob. 4PACh. 8 - Prob. 5PACh. 8 - Prob. 1PBCh. 8 - Prob. 2PBCh. 8 - Prob. 3PBCh. 8 - Prob. 4PBCh. 8 - Prob. 5PBCh. 8 - TruGreen is the worlds largest lawn and landscape...Ch. 8 - Between the end of one month and the 15th day of...
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- Which tax does not have a wage base limit? A. FICA−Medicare B. Federal unemployment tax C. FICA−OASDI D. State unemployment taxarrow_forward1. What loan from the federal government given to individual states is used to provide unemployment benefits to state residents? Answer: A. SUTA Advances B. FUTA Advances C. Title XII Advances D. Title 15 Advances 2. The SUTA tax rate is determined by an employer’s _____. Answer: A. credit reduction B. FUTA tax rate C. experience rating D. Medicare tax rate 3. Identify each item as associated with Form 1099-NEC, Form 1096, or both. A. Displays earnings for one individual Form 1099-NEC Form 1096 Both B. Displays earnings for multiple individuals Form 1099-NEC Form 1096 Both C. Requires a signature Form 1099-NEC Form 1096…arrow_forwardMa4. Payroll tax liabilities include? A. Federal and state income taxes withheld, FICA, and sales taxes withheld. B. Federal and state income taxed withheld, FICA, and unemployment taxes. C. Federal and state income taxes withheld, FICA, and FICO taxes withheld. D. Federal and state income taxes withheld, FICA, and insurance taxes withheld.arrow_forward
- Which of the following are permanent differences? (check all that apply) State taxes Depreciation expense Cash advances from customers Warranty expense Tax-free interest incomearrow_forwardWhich of the following are not included in an employer’s payroll tax expense? a) state income taxes b) employer portion of FICA taxes c) state unemployment taxes d) federal unemployment taxesarrow_forward1. Employees are subject to taxes withheld from their paychecks. a. List the federal taxes withheld form most employee's paychecks. b. Give the title of the accounts credited by amounts withheld. c. Social security tax d. Federal unemployment compensation tax e. Sate unemployment compensation taxarrow_forward
- Which of the following payroll register columns can contain a combination of multiple withholding amounts? Answer: A. State Income Tax Withholding B. Social Security C. Medicare D. Voluntary Withholdingsarrow_forwardSome payroll taxes are paid by both employees and employers. Others are paid only by employers. Which of the following is one of those taxes paid only by the employer. It’s: a. Federal Income Tax b. FICA c. SUTA d. State Income Tax e. None of the abovearrow_forward10. Which payroll tax is imposed on both the employee and the employer? a. federal income taxb. desempleo estatal (state unemployment taxes)c. FICA taxesd. desempleo federal (federal unemployment taxes)arrow_forward
- Which of the following accounts is debited to record the payment of employees' state income tax withholding? a. Employees' State Income Tax Payable b. Employees' State Income Tax Received c. Capital d. Casharrow_forwardAn employer may withhold portions of an employee's total earnings for a.state and county sales taxes. b.state unemployment taxes. c.local property taxes. d.federal unemployment taxes. e.charitable contributions.arrow_forwardMatch 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…arrow_forward
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