The Entry to Record the Payroll Tax Expense Would Include

question 84

Multiple Choice

The entry to record the payroll tax expense would include:

• A) a credit to Federal Income Taxes Payable.
• B) a debit to Pre-paid Tax Expense.
• C) a credit to FICA (OASDI and Medicare) Taxes Payable.
• D) a credit to Wages Payable.

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Definitions:

Collaboration

The act of working together with one or more people to achieve a common goal or project.

Teamwork

Teamwork involves the collaborative effort of a group to achieve a common goal or to complete a task in the most effective and efficient way.

Coordinated Series

A sequence of elements, events, or activities that are planned or occur in a mutually supportive manner.

Intuitive Appeal

The natural attractiveness or persuasiveness of an idea or product based on its apparent simplicity or the ease with which it can be understood and appreciated.