1. In ideal circumstances, each payroll check is delivered personally to the employee who signs a receipt for it. 2. The amount of income taxes withheld from employee gross pay is an expense to the employer. 3. An entry is made debiting Accrued Payroll and crediting Cash when payroll checks drawn against a payroll checking account are issued.

1. In ideal circumstances, each payroll check is delivered personally to the employee who signs a receipt for it. 2. The amount of income taxes withheld from employee gross pay is an expense to the employer. 3. An entry is made debiting Accrued Payroll and crediting Cash when payroll checks drawn against a payroll checking account are issued.

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter8: Current And Contingent Liabilities

Section: Chapter Questions

Problem 10MCQ: When a credit is made to federal income taxes withholding payable account related to taxes withheld...

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