Payroll Tax Payable is credited for the amount of net pay.

Name: Payroll Tax Payable is credited for the amount of net pay.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Payroll Tax Payable is a liability account and is usually credited for the amount of payroll taxes owed by the employer, not for the net pay of employees. The net pay of employees is typically credited to a separate account such as Salaries and Wages Expense.

Payroll Tax Payable Is Credited for the Amount of Net