The entry to record the payroll tax expense would include:
A)a credit to Federal Income Taxes Payable.
B)a credit to Cash.
C)a credit to FICA (OASDI and Medicare)Taxes Payable.
D)a credit to Wages Payable.

Question

Quizplus · Accepted Answer

The entry to record payroll tax expenses would include a credit to FICA (OASDI and Medicare) Taxes Payable since these taxes are deducted from employees' gross pay for social security and Medicare. The other choices, such as Federal Income Taxes Payable, Cash, and Wages Payable, do not directly relate to payroll tax expenses.

The Entry to Record the Payroll Tax Expense Would Include