Question
total payroll related expenses for an employer include: a. net pay plus payroll taxes plus employee benefits b. gross salaries plus FICA and Unemployment taxes
total payroll related expenses for an employer include:
a. net pay plus payroll taxes plus employee benefits
b. gross salaries plus FICA and Unemployment taxes plus Employee benefits
c. Gross Salaries plus FUTA and SUTA taxes plus Employee benefits
d. Net pay.
On November 25, ATX Company signed a 120-day, 8% Notes Payable with a face value of $9,000 in exchange of money borrowed. If ATX Company's accounting period ends on December 31, the journal entry prepared by ATX to repay the Note would include:
a. debit to interest expense for $168
b. debit to interest payable for $168
c. credit to cash for 9168
d. credit to interest payable for 168
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