what are payroll related liablity from following    Trade and other payables                                                             Provisions                                                                               Accrued interest / mark-up                                                      Short - term borrowings                                                         Unclaimed dividend                                                                  Unpaid dividend                                                                  Provisions                                                                                    Accrued interest / mark-up       Retirement and other service benefits

Q: Salaries Expense is debited to record the employer's FICA contributions and the FUTA and SUTA taxes.…

A: Payroll tax: This is the tax which is withheld by an employer from the pay of the employee and…

Q: what are payroll deductions

A: Payroll deductions are the amounts which are mandatorily or voluntarily deducted by the employer…

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: Explain how a Bonus arrangement can be used to defer the taxes paid by an employer?

A: Deferral of tax refers to the postponing the tax payment to the next period. In other words, when…

Q: Which of the following is most likely to be regarded as an estimated liability that is subject to…

A: Solution Concept Estimated liability that is subject to provision           It means that the amount…

Q: Point out payroll relaetd liabilities from following :

A: A liability is a financial obligation to be paid in the future and is the result of a past event or…

Q: Which of the following methods of payroll calculation offers minimum wage standards and overtime…

A: Hourly Rate of Pay:- This method helps in calculating the payroll amount of an employee on an hourly…

Q: Which of the following can be deducted as interest expense? Interest on personal debt Interest on…

A: Interest on personal debt  imputed interest on capital interest on assessed tax delibquency…

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

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

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: 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 taxes would be deducted in determining an employee’s net pay? a. FUTA taxes…

A: Net pay: It can be defined as the amount that is taken by an employee to its home in the form of…

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: Which of the following statements describe short-term employee benefits? They are measured at a…

A: Short-term benefits are those benefits which are payable within twelve (12) months after the end of…

Q: Identify the major payroll tax forms and describe the purpose of each.

A: Payroll tax refers to the percentage which is withheld from the pay or salaries of the employee…

Q: Why are payroll taxes and sales taxes consideredliabilities?

A:

Q: Which of the following items of interest expense may be deducted from gross income? Interest…

A: Interest expense will be allowed as a deduction if such Expense is incurred in the ordinary course…

Q: Are both taxes calculated on gross wages or calculated on adjusted wages for after pre-tax…

A: Explanation on Social Security tax and Medicare tax  is given below,

Q: Which of the following payroll related taxes are paid by the employer? Choose the best answer. Group…

A: Social Security Tax and Medicare Tax are taxes that are deducted from employee's salary. There are…

Q: Which of the following may be a current liability? Withheld Income Taxes Deposits Received from…

A: The liabilities are classified as current liabilities and long term liabilities.

Q: What are payroll related liabilities in the following picture?

A: Anything related to the payroll of a business which were not paid yet to the employees is known to…

Q: Rebate on bills discounted is A liability Actual income Income received in advance An accrued income

A: Statement of financial position or balance sheet is one of a financial statement which helps…

Q: Which of the following is a payroll liability?          Question 43 options:   a)  The net pay…

A: SOLUTION-   PAYROLL LIABILITIES  ARE ANY TYPE OF PAYMENT RELATED TO PAYROLL THAT A BUSINESS OWES BUT…

Q: What are the Payroll-related deductions?

A: Payroll: Payroll refers to the total amount that is required to be paid by the company to its…

Q: What are payroll related liabilities in following picture

A: Payroll: It can be defined as the total amount or compensation that is paid out to the employees by…

Q: The amount of federal income tax to be withheld from employee's paychecks can be calculated by

A: Federal income tax: It is a tax levied by the IRS on the annual income of the taxpayers such as…

Q: Two categories of payroll deductions are required deductions and deductions Omandatory O forgiven O…

A: SOLUTION= PAYROLL DEDUCTIONS  ARE ALSO CALLED PAYROLL WITHHOLDING , ARE AMOUNT WITHHELD FROM…

Q: Is deferred liabilities are payroll related liability?

A: A conceded charge responsibility is a duty that is evaluated or is expected for the current time…

Q: 11. Voluntary payroll deductions may include all of the following deductions, except for: a. union…

A: The correct answer is option (d) i.e. FICA taxes. "Voluntary payroll deductions does not include…

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: Following are payroll deductions for Mars Co. Classify each payroll deduction as either a voluntary…

A: Voluntary payroll deductions are those deductions which are not required by any law or act to be…

Q: i. The portion of the payroll tax levied on employers is O regressive, if the incidence is on…

A: Payroll tax is withheld by an employer from an employee's pay. The employer later pays it to the…

Q: list down long term liabilities. 2)list down short term and long term investements.

A: Long term liabilities are those liabilities which are to be paid in long period of time which is…

Q: Concerning payroll accounting - How would Medicare Tax withholdings be determined on Period wages of…

A: Social tax security is a compulsory contribution of employer and employee. It funds the retirement,…

Q: Employee payroll taxes do not include: a) Federal unemployment taxes. b) State Income taxes. c )…

A: Employee payroll taxes are those taxes that are paid by the employee or it can be said that the…

Q: When an organization makes payment to the government for payroll taxes, the payment is journalized…

A: Payroll taxes are the taxes that are paid by the employers as well as employees on the basis of the…

Q: Which of the following should be classified as noncurrent liability? Unearned revenue Accrued…

A: >Non current liabilities are the liabilities that are to be repaid in long term, say, after 1…