The employer is responsible for which of the following payroll taxes? a. 6.2% FICA—OASDI tax b. 1.45% FICA—Medicare tax c. Federal and state unemployment taxes d. All of the above

Q: 1. Form 1096 is completed by the employer and submitted to the IRS for what purpose? Answer:   A.…

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Q: It is mandatory for both the employer and employee to pay​ ________.

A: Payroll accounting:   The process of payroll accounting includes the computation and payment of…

Q: For each of the listed payroll-related taxes, indicate whether they generally apply to employees…

A: Payroll taxes are taxes paid to Internal Revenue Service (IRS) and withheld, charged or levied on…

Q: Gilpin, Inc.'s payroll for November 2020 is summarized as follows:        Amount of Wages Subject…

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Q: Which of the following taxes is paid by the employee only? Choose the best answer. Group of answer…

A: Tax is compulsory payment made by the assessee to the government .

Q: For each of the following payroll-related taxes, indicate whether they generally apply to (a)…

A: Payroll Accounting: The process of payroll accounting includes the computation and payment of…

Q: In determining an employee's net pay, which of the following taxes would not be deducted? a.SUTA…

A: Employees net pay = Gross pay - All payroll deductions

Q: Which payroll tax is imposed on both the employee and the employer? a. federal income tax b.…

A: Payroll taxes are levied on salaries and self-employment income by the federal government, and the…

Q: When recording payroll tax expense, employers will generally include which of the following…

A: Gross pay of an employee is to be deducted for several taxes and then those taxes are the liability…

Q: According to a summary of the payroll of Kirby Co., $380,500 in earnings were subject to the 7.6%…

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Q: Which payroll tax is levied on both employers and employees? Both employees and employers are…

A: The payroll tax is required to be remitted to the government on the behalf of employee and is…

Q: All of the following are employer payroll taxes except. Multiple Choice Social Security tax equal to…

A: Payroll  taxes are those taxes that are deducted  from salary  of employees  unordered to pay social…

Q: 2. In this pay, Moss Company deducted OASDI taxes of $5,276.24 and HI taxes of $1,233.95 from the…

A: Moss company’s portion of the social security taxes includes the taxes of OASDI (old age, survivors…

Q: If a 6.2% Social Security tax is applied to a wage of $87,500, the amount of Social Security tax to…

A: Social security tax is 6.2% Wage is $87,500   To Find: Amount of Social Security tax

Q: Statement 1: The fringe benefit tax shall be treated as a final income tax on the employee which…

A: In the given question, two statements are given related to fringe benefit tax and four options. We…

Q: Which of the following statement is/are true 1.The fringe benefit tax shall be treated as a final…

A: In the given question, we need to describe which statements are true out of following :- 1.The…

Q: A. Compute for the Net Taxable Income and Personal Income Tax. 1. A. Annual Basic Salary B. 13th…

A: NOTE : As per BARTLEBY guidelines, when multiple questions are given then first question is to be…

Q: Some payroll taxes are paid by both employees and employers. Others are paid only by employers.…

A: Some payroll taxes are borne by both employer and employee while some are paid only by employees or…

Q: An employee has total gross wages of $7,000, Federal Unemployment Expense, and State Unemployment…

A: Unemployment taxes: It is one of the payroll taxes that is withheld from the employee’s wages. It is…

Q: The employer is responsible for which of the following payroll taxes? 6.2% FICA—OASDI tax 1.45%…

A: Payroll taxes: Payroll taxes are the taxes withheld by the employers from the wages/salary payable…

Q: Assume that the company is subject to a two percent state unemployment tax (due to a favorable…

A: Journal entries are the entries to be recorded for all the business transactions in the accounting…

Q: 12. All of the following payroll taxes are levied against the employer, except for: a. FICA taxes…

A: Tax: Tax is a financial charge imposed by the county's government on the income of the person, and…

Q: Compute the FICA taxes for each employee and the employer's FICA taxes. Round all computations to…

A: Under federal law, employers are required to deduct 6.2% of employees wages as his or her OASDI/EE…

Q: An employee has total gross wages of $7,000, Federal Unemployment Expense, and State Unemployment…

A: FICA ( Federal Insurance Contribution Act) taxes refers to the deductions from the gross earnings of…

Q: Which of the following forms is typically given to employees at the end of the calendar year so that…

A: Given: The form provided for the employees to file the form for income tax.

Q: Which of the following would appear on payroll tax Form 941? State unemployment tax State Income…

A: Form 941 of payroll taxes is used by employers to report income taxes, Social Security tax, or…

Q: Hyram Company's reserve ratio for 2020. Round your answer to two decimal places. fill in the blank 1…

A:

Q: Is Social Security Tax & Medicare tax calculated on all gross wages in a pay period?

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Q: On November 30, the payroll register of Webster & Smith indicated the following information: Wages…

A: Working:

Q: To calculate the debit to payroll tax expense in recording the employer's payroll taxes the…

A: Employer payroll taxes means those tax expenses that are incurred by employer on behalf of employees…

Q: Question 5: Which of the following employee taxes is matched by the employer? Answer: A. State…

A: Introduction:- Payroll taxes are the state and federal taxes. As an employer, are responsible to…

Q: Which of the following taxes is paid by the employee and the employer? a.SUTA b.Federal withholding…

A: SUTA: State Unemployment Tax Rate  FUTA: Federal Unemployment Tax Rate  FICA: Federal Insurance…

Q: Which of the following is not deducted from an employee’s salary? a. FICA taxes.b. Unemployment…

A: Payroll tax The costs incurred by an employer to pay the employee for his labor, including other…

Q: List the required employee payroll withholding deductions, and provide the tax rate for each.

A: Payroll withholding deduction: The amounts which the employer withheld from employees’ gross pay to…

Q: Employer payroll taxes: Top of Form Multiple Choice Represent the social security taxes withheld…

A: Employer payroll taxes include the employer's portion of FICA taxes and unemployment taxes. It is…

Q: Why are deductions from employees’ earnings classified as liabilities for the employer? For each of…

A: Payroll: The total payment that a company is required to pay to its employee for the services…

Q: Concerning payroll accounting - Is Social Security & Medicare tax calculated on the entire…

A: The social security benefits would be received by anyone whether married or single. There is no…

Q: Identify all correct statements concerning payrolls andrelated payroll costs.a. Both employers and…

A: Payroll refers to the slip of payment to the employees. It also includes the calculation and…

Q: The following unemployment tax rate schedule is in effect for the calendar year 2019 in State A,…

A: Payroll appears to be the sum of all payments that a firm owes to its employees during a given time…

Q: Use (a) the percentage method and (b) the wage-bracket method to compute the federal income taxes to…

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Q: Which of the following is not an employer payroll tax? Multiple Choice Social Security tax equal to…

A: The following are categorized under employer payroll tax, Federal unemployment tax State…

Q: the rate 0.6% was used for the net FUTA tax rate for employers. The following unemployment tax rate…

A: Reserve ratio: (Contribution - benefits Paid)/Average payroll                     =21560-01150,000…

Q: Waterway Industries's payroll for the pay period ended October 31, 2021 is summarized as follows:…

A: Payroll taxes: It is the tax that is withheld, charged, or levied on the payroll of the employer and…