Question
Hodgdon Industries, a semi-weekly schedule depositor, pays its employees semimonthly on the 1st and 15th of the month. Per company policy, employees are paid their
Hodgdon Industries, a semi-weekly schedule depositor, pays its employees semimonthly on the 1st and 15th of the month. Per company policy, employees are paid their annual bonuses on December 15, the final payday of the year 2016. On Thursday, December 15, the bonuses were paid and the payroll tax liability was $103,850. When are the payroll tax deposits due for the December 15 pay date?
| a) | Monday, December 19 | |
| b) | Friday, December 23 | |
| c) | Wednesday, December 21 | |
| d) | Friday, December 16 |
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Financial Accounting For Decision Makers
Authors: Peter Atrill
8th Edition
1292099046, 978-1292099040
