Why Are All of the Employer Payroll Taxes Listed in Separate

question 107

Essay

Why are all of the employer payroll taxes listed in separate payable accounts?

---

Definitions:

Cost Of Goods Sold

The costs directly connected with generating the goods a firm sells to its customers.

Operating Cycle

The duration of time it takes for a company to purchase inventory, sell products, and collect cash from customers.

Financial Data

Information relating to the financial status or performance of a company, including income, expenses, assets and liabilities.

Sales On Account

Transactions where goods or services are sold and payment is deferred, creating accounts receivable for the seller.