The journal entry to record the payroll for Fox-Gardiner Company for the week ending January 8 would probably include a
A) credit to Salaries Expense.
B) credit to Wages Expense.
C) debit to Federal Income Taxes Payable.
D) credit to FICA Taxes Payable.

Question

Quizplus · Accepted Answer

The correct journal entry for recording payroll typically includes a credit to FICA Taxes Payable because this represents the employer's liability for the employee's Social Security and Medicare taxes, which are required to be withheld from the employee's paycheck and remitted to the government.

The Journal Entry to Record the Payroll for Fox-Gardiner Company