Question 28 (Mandatory) (2.5 points)

William Corp. pays its employees every two weeks. Employee wages earned over a two-week period is $250,000. All wages are subject to social security and Medicare taxes, while $50,000 of wages are subject to federal and state unemployment taxes. Tax rates are the following:

Social security tax 6.0% Medicare tax 1.5% State unemployment compensation tax 5.4% Federal unemployment compensation tax 0.8%

Additionally, the total amount withheld from wages for federal income taxes is $75,000 and the total amount withheld for state income taxes is $12,500.

________________________________________

When William Corp. records the journal entry to recognize payroll tax expense every two weeks, State Unemployment Tax Payable will be:

Question 28 options:

	Credited for $400
	Debited for $400
	Neither debited nor credited
	Credited for $2,700
	Debited for $2,700

Question 29 (Mandatory) (2.5 points)

William Corp. pays its employees every two weeks. Employee wages earned over a two-week period is $250,000. All wages are subject to social security and Medicare taxes, while $50,000 of wages are subject to federal and state unemployment taxes. Tax rates are the following:

Social security tax 6.0% Medicare tax 1.5% State unemployment compensation tax 5.4% Federal unemployment compensation tax 0.8%

Additionally, the total amount withheld from wages for federal income taxes is $75,000 and the total amount withheld for state income taxes is $12,500.

________________________________________

When William Corp. records the journal entry to recognize payroll tax expense every two weeks, Federal Unemployment Tax Payable will be:

Question 29 options:

	Debited for $400
	Credited for $400
	Neither debited nor credited
	Debited for $2,700
	Credited for $2,700

Question 30 (Mandatory) (2.5 points)

William Corp. pays its employees every two weeks. Employee wages earned over a two-week period is $250,000. All wages are subject to social security and Medicare taxes, while $50,000 of wages are subject to federal and state unemployment taxes. Tax rates are the following:

Social security tax 6.0% Medicare tax 1.5% State unemployment compensation tax 5.4% Federal unemployment compensation tax 0.8%

Additionally, the total amount withheld from wages for federal income taxes is $75,000 and the total amount withheld for state income taxes is $12,500.

________________________________________

When William Corp. records the journal entry to recognize payroll every two weeks, Payroll Tax Expense will be:

Question 30 options:

	Neither debited nor credited
	Credited for $75,000
	Debited for $75,000
	Credited for $12,500
	Debited for $12,500

Question 31 (Mandatory) (2.5 points)

William Corp. pays its employees every two weeks. Employee wages earned over a two-week period is $250,000. All wages are subject to social security and Medicare taxes, while $50,000 of wages are subject to federal and state unemployment taxes. Tax rates are the following:

Social security tax 6.0% Medicare tax 1.5% State unemployment compensation tax 5.4% Federal unemployment compensation tax 0.8%

Additionally, the total amount withheld from wages for federal income taxes is $75,000 and the total amount withheld for state income taxes is $12,500.

________________________________________

When William Corp. records the journal entry to recognize payroll every two weeks, State Unemployment Tax Payable will be:

Question 31 options:

	Credited for $75,000
	Credited for $12,500
	Neither debited nor credited
	Debited for $75,000
	Debited for $12,500