Gary Marks is paid on a monthly basis. For the of $8,288. FICA tax for Social Security is 6.2% the FICA tax for Medicare is 1.45% of all can 5.4%. Both unemployment taxes are applied Federal Income Tax withheld from his earu Payroll taxes expenses for this employee places.) A) $2,009.21 B) $1,131.31 C) $2,506.48 onth of January of the current year, the end the first $127.200 fans each calendar year 8. The TUTA tax rates to the first 57,000 of an employee's payThe and the SUTA was $1,275.17. What is the amount of the employers Round your intermediate calculation to two deca D) $420.00 E) $1,054.04 13. Estimated liabilities common A) Warranties B) Vacation benefits C) Income taxes. D) Employee benefits. commonly arise from all of the following except E) Unearned revenues. The deferred income tax liability: A) Arises wher es when income tax expense reported on the income statement exceeds the amount of income taxes payable to the government. B) is a contingent Nability. C) Arises when income tax expense reported on the income statement is less than the amount of income taxes payable to the government. D) is never recorded. is recorded whether or not the difference between taxable income and financial accounting, income is permanent or temporary. All of the following statements related to recording warranty expense are true except: A) Recording estimated warranty expense complies with the full disclosure principle. ) Warranty expense should be recorded in the period when the warranty service is performed. c) Recording estimated warranty expense complies with the matching principle. D) The seller reports a warranty obligation as a liability El Warranty costs are probable and the amount can be estimated