FUTA Taxes Payable is an expense account in which are recorded the employer's federal unemployment taxes.
Correct Answer:
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Q29: When the federal tax deposit is made,
Q30: The FICA taxes on the employer represent
Q31: Since vacation time is paid when used,
Q32: Posting to the general ledger for payroll
Q33: The FUTA tax part of the payroll
Q35: The payroll taxes incurred by an employer
Q36: Union Dues Payable is a liability account
Q37: The employer's payroll tax expenses are recorded
Q38: In the adjusting entry to accrue wages
Q39: Since FUTA tax is paid only once
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