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Which form is used to report FICA taxes for the employer and employee, and also federal income taxes for the employee? A) Form W-4 B)

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Which form is used to report FICA taxes for the employer and employee, and also federal income taxes for the employee? A) Form W-4 B) Form 944 C) Form 941 D) Form W-2 Sue's Jewelry sold 25 necklaces for $25 each to a credit customer. The invoice included a 6% sales tax and payment terms of 2/10, n/30. In addition, 5 necklaces were returned prior to payment. The entry to record the sale would include: A) a debit to Sales for $625. B) a debit to Sales for $662.50. C) a debit to Accounts Receivable for $625. D) a debit to Accounts Receivable for $662.50. Which of the following transactions would cause an asset to decrease and the owner's equity to decrease? A) The owner withdrew cash from the business. B) The business provided services to a cash customer. C) The business bought supplies for cash. D) The business bought supplies on account. A credit to an asset account was posted to the Capital account. This error would cause: A) Capital to be understated. B) assets to be overstated. C) liabilities to be overstated. D) Both A and Care correct. The posting reference column in the journal is used for: A) recording the initials of the person who did the posting. B) recording the account number to which the entry was posted. C) recording the time when the entry was posted. D) recording the source documents identification number

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