At the time of depositing FICA taxes and employees' federal income taxes, the account FICA Tax Expense is debited for both the employees' and the employer's portions of the FICA taxes.

Question

Quizplus · Accepted Answer

When depositing FICA taxes and employees' federal income taxes, the account debited for the employer's portion of FICA taxes is FICA Tax Expense, but for the employees' portion and the federal income taxes withheld from employees' paychecks, the account Payroll Taxes Payable or a similar liability account is debited, not the FICA Tax Expense account.

At the Time of Depositing FICA Taxes and Employees' Federal