Indicate whether each of the following statements is true or false.
_____ a)The amount of federal tax withheld from an employee's salary depends on the employee's gross pay and the number of withholding allowances the employee claims.
_____ b)Withheld taxes are recorded in the payroll tax expense account.
_____ c)An employer will submit $8,250 in FICA taxes for an employee who earns $55,000 annually.
_____ d)A voluntary deduction,such as a charitable contribution,creates a liability when it is withheld from employee pay.
_____ e)If an employer records gross pay of $2,400 and withholds $700 of that amount,then the employer will recognize $1,700 in salary expense.

Question

Quizplus · Accepted Answer

The Answer of Indicate whether each of the following statements is true or false.
_____ a)The amount of federal tax withheld from an employee's salary depends on the employee's gross pay and the number of withholding allowances the employee claims.
_____ b)Withheld taxes are recorded in the payroll tax expense account.
_____ c)An employer will submit $8,250 in FICA taxes for an employee who earns $55,000 annually.
_____ d)A voluntary deduction,such as a charitable contribution,creates a liability when it is withheld from employee pay.
_____ e)If an employer records gross pay of $2,400 and withholds $700 of that amount,then the employer will recognize $1,700 in salary expense.

Indicate Whether Each of the Following Statements Is True or False