According to a Summary of the Payroll of Scotland Company

question 71

Multiple Choice

According to a summary of the payroll of Scotland Company, $450,000 was subject to the 7.0% social security tax and $500,000 was subject to the 1.5% Medicare tax. Federal income tax withheld was $98,000. Also, $15,000 was subject to state (4.2%) and federal (0.8%) unemployment taxes. The journal entry to record accrued payroll taxes would include:

• A) a debit to SUTA Payable of $630
• B) a debit to SUTA Payable of $18,900
• C) a credit to SUTA Payable of $630
• D) a credit to SUTA Payable of $18,900

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Definitions:

Hydrocarbon

Organic compounds consisting entirely of hydrogen and carbon atoms, forming the basis of all organic chemistry and fossil fuels.

Alkanes

Saturated hydrocarbons consisting of carbon and hydrogen atoms with single bonds between carbons, known for their stability and lack of reactivity.

Unsaturated Hydrocarbons

Organic compounds that contain at least one carbon–carbon double or triple bond, characterized by their ability to undergo addition reactions.

Organic Compounds

Chemical compounds containing carbon atoms, bonded mainly to hydrogen, oxygen, or nitrogen atoms, and which are the basis of all living organisms' structures and functions.