The Entry to Record the Payment of Taxes Withheld from Employees

question 112

Multiple Choice

The entry to record the payment of taxes withheld from employees and FICA taxes would be to:

• A) credit Cash; debit FICA-OASDI Payable, FICA-Medicare Payable, and Federal Income Tax Payable.
• B) debit Cash; credit FICA-OASDI Payable, FICA-Medicare Payable, and Federal Income Tax Payable.
• C) credit Cash; credit FICA-OASDI Payable, FICA-Medicare Payable, and Federal Income Tax Payable.
• D) None of these answers is correct.

---

Definitions:

Accounting Research

The examination and analysis of accounting practices to create guidance or knowledge in the field of accounting.

FASB

The Financial Accounting Standards Board, an independent organization that establishes accounting and financial reporting standards for companies and nonprofits in the United States.

Technical Bulletins

Documents that provide official guidance on specific technical issues in a particular field.

Opinions

Opinions are subjective judgments, beliefs, or views that are not necessarily based on facts or knowledge.