The entry to record the payment of taxes withheld from employees and FICA taxes would be to:
A) credit Cash; debit FICA-OASDI Payable, FICA-Medicare Payable, and Federal Income Tax Payable.
B) debit Cash; credit FICA-OASDI Payable, FICA-Medicare Payable, and Federal Income Tax Payable.
C) credit Cash; credit FICA-OASDI Payable, FICA-Medicare Payable, and Federal Income Tax Payable.
D) None of these answers is correct.

Question

Quizplus · Accepted Answer

When taxes withheld from employees and FICA taxes are paid, the entry is to debit Cash and credit the appropriate payable accounts (FICA-OASDI Payable, FICA-Medicare Payable, and Federal Income Tax Payable).

The Entry to Record the Payment of Taxes Withheld from Employees