The Social Security Tax Payable account is debited for Social Security taxes withheld and Social Security taxes imposed on the employer.

Name: The Social Security Tax Payable account is debited for Social Security taxes withheld and Social Security taxes imposed on the employer.
Brand: Quizplus
Rating: 4.8 (57 reviews)

Question

Quizplus · Accepted Answer

The Social Security Tax Payable account is credited for both Social Security taxes withheld from employees and those imposed on the employer, as it represents a liability to be paid to the government.

The Social Security Tax Payable Account Is Debited for Social