Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Which tax does NOT have maximum amount per employee? State Unemployment federal unemployment social security medicare QUESTION 2 An emplyee makes $700. His employer deducts
Which tax does NOT have maximum amount per employee? State Unemployment federal unemployment social security medicare QUESTION 2 An emplyee makes $700. His employer deducts $50 for income tax and $70 for social security and medicare. The employer pays $70 for social security and medicare and $10 for FUTA. How much does this employee cost the employer? O $700 $780 O $900 $660 I am doing a journal entry for my payroll taxes. Which accounts will be debits and which will be credits? You can use an answer more than once A. medicare tax payable debit . payroll tax expense credit V 7 social security payable State Unemployment tax payable 0.5 QUESTION 4 : Who pays the employee's income tax? o emplyee only o employer only both the emplyee and the employer the IRS 0.5 po QUESTION 5 A. Debit The following are accounts that will appear in the entry to record the journal entry for wages expense. Match the accounts with their position. You can use an answer more than once. Wages Payable Wages Expense Income Tax payable V B. Credit social security payable, QUESTION 6 Which tax is NOT paid by the empolyee? FUTA o state incme tax medicare social security
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started