Smith Company sold merchandise for $3,000 cash. Assume the event is subject to a state sales tax of 9%. Recognizing the event will require Smith to ignore any effects associated with the recognition of cost of goods sold) Multiple Choice Increase assets increase obties Vhich of the following is responsible for paying social security (FICA) tax? Multiple Choice 0 Employee only Employer only O Both employee and employer Mt. Ortega earns a monthly salary of $8,000. Based on Mt.Ortega's Form W:4, the tax tables require withholding $900 per month for income taxes. Mr.Ortega has authorized his employer to deduct $380 per month for medical insurance and $30 per month for a charitable contribution to the Humane Society. Assume a FICA tax rate of 6%, a Medicare tax rate of 15%, and an unemployment tax rate of 6% on the first $7,000 of salary earned. Which of the following shows how recognizing the accrued payroll tax expense would affect the employer's financial statement? Murticle Choice