For each of the following payroll-related taxes, indicate whether they generally apply to (a) employees only, (b) employers only, or (c) both employees and employers:1. Federal income tax2. Medicare tax3. Social security tax4. Federal unemployment compensation tax5. State unemployment compensation tax

Q: Payroll Accounting under FUTA, what conditions must be met for a person or business to be…

A: Because you have posted multiple question we will answer the first question only and for thr…

Q: what are the advantages and disadvantages of the payroll tax deferral?

A: Highlights of the payroll tax deferral scheme:- It applies to all those employees whose before tax…

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: What is the term for the employer's mandatory payroll taxes that the government has written into…

A: A payroll tax is a percentage withheld from an employee's pay by an employer who pays it to the…

Q: ng to a summary of the payroll of Scotland Company, $450,000 was sub cial security tax and $500,000…

A: The acronym SUTA stands for State Unemployment Tax which has been deducted for the unemployed…

Q: According to a summary of the payroll of Guthrie Co., $600,000 was subject to the 6.0% social…

A: Payroll Tax refers to those taxes that employers withhold from the wages or salaries of the…

Q: Match each payroll item that follows to the one item (a–f) that best describes its characteristics.…

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

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: consider the following accounts and determine if the account is a current liability, a noncurrent…

A: The balance sheet is the statement of financial position of the business.

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: Apply the tax benefit rule to determine the amount of the state income tax refund included in gross…

A: Given, Pete and Heather filed a Joint tax return in 2020. AGI = $90,000 Itemized deductions =…

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: 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: Which of the following taxes has a ceiling and is only paid by the employer? Group of answer choices…

A: Income taxes is the amount that is charged by the government on the income earned by an individual…

Q: Employees are subject to taxes withheld from their paychecks.a. List the federal taxes withheld from…

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

Q: In a payroll journal entry, a credit to Federal Withholding Tax Payable indicates a.Federal taxes…

A: Solution: In payroll journal entry, Payroll expense are debited, amount paid to employee is credited…

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: Salaries Expense Social Security Tax Payable Medicare Tax Payable Employee Federal Income Tax…

A: Given: Salary expense = $12,400

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: On September 30, Hilltop Company's selected payroll accounts are as follows: FICA Social Security…

A: Recording Amount deduction from Employee Salary and From Company.   Particulars Debit Credit…

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: 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: 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: Consider the following accounts and determine if the account is a current liability, a noncurrent…

A: Introduction: Current Liability: These also called as Short term liabilities. Which are in due and…

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: What is the amount of the debit to Payroll Taxes?

A: What is the amount of the debit to Payroll Taxes?   A payroll tax expense account is the holding…

Q: Employees are subject to taxes withheld from their paychecks.  Please indicate the federal taxes…

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

Q: Payroll tax expense related to this employee will be:

A: Income tax refers to the amount paid by an individual or company to the government for financing the…

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: 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: 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: The amount of compensation subject to OASDI tax is correctly defined as Select one: a. all amounts…

A: OASDI (Old Age, Survivors, and Disability Insurance program) tax is a tax levied by IRS on all…

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: Federal Unemployment Tax Act taxes are        A. Levied on both employer and employee        B.…

A: Federal employment tax is levied on the business where employees work that is used to compnsate the…

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: 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: 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: 1. Record the entries for the payment of payroll and the employer's payroll tax expense in the…

A: Payroll tax expense = 67.69+15.82+74.00+21.84 = 179.35 Total Deductions includes Union dues of 10.80…

Q: Payroll Accounting Payments that are exempt from Federal Income Taxes? How many allowances to claim…

A: Following are the answers to given problems

Q: According to a summary of the payroll of Scotland Company, $450,000 was subject to the 6.0% social…

A: SUTA is the state unemployment tax. The employers are required to pay SUTA taxes because these are…