The following totals for the month of April were taken from the payroll records of Novak Corp Salaries $ 146400 FICA taxes withheld 11200 Income taxes withheld 30500 Medical insurance deductions 5500 Federal unemployment taxes 390 State unemployment taxes 2640 The entry to record the accrual of fed...

Solution The correct answer is credit to Federal Unemploy ...

The following totals for the month of April were taken from the payroll records of Novak Corp.

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The following totals for the month of April were taken from the payroll records of Novak Corp..

Salaries	$146400
FICA taxes withheld	11200
Income taxes withheld	30500
Medical insurance deductions	5500
Federal unemployment taxes	390
State unemployment taxes	2640

The entry to record the accrual of federal unemployment tax would include a

debit to Federal Unemployment Taxes Expense for $390.

credit to Federal Unemployment Taxes Payable for $390.

credit to Payroll Tax Expense for $390.

debit to Federal Unemployment Taxes Payable for $390.

Related Book For answer-question

Principles of Accounting

ISBN: 978-1133626985

12th edition

Authors: Belverd E. Needles, Marian Powers and Susan V. Crosson

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Posted Date: Feb 15, 2022 08:46 PM

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The following totals for the month of April were taken from the payroll records of Novak Corp.

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Principles of Accounting

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