Question: Which account is NOT credited when the journal entry to pay employees is recorded? Multiple Choice Salaries and Wages Expense Witheld Federal & State Taxes

Which account is NOT credited when the journal entry to pay employees is recorded?

Multiple Choice

Salaries and Wages Expense

Witheld Federal & State Taxes Payable

Cash

Withheld FICA taxes payable

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

AW 200 ( 41.7 wide-flange beam (see Table E-1(b). Appendix E) is simply supported with a span length of 2.5 m (see figure). The beam supports a concentrated load of 100 kN at 0.9 m from support B. At...

Q:

Which account is NOT credited when the journal entry to pay employees is recorded? Multiple Choice a. Salaries and Wages Expense b. Witheld Federal & State Taxes Payable c. Cash d. Withheld FICA...

Q:

Which account is NOT credited when the journal entry to pay employees is recorded? A. Salaries and Wages expense B. Withheld federal and state taxes payable C. cash D. withheld FICA taxes payable

Q:

Question 5 Your answer is partially correct. Try again. Donna Strand's regular hourly wage rate is $24, and she receives an hourly rate of $36 for work in excess of 40 hours. During a January pay...

Q:

I really need some help PLEASE!...

Q:

McLoyd Company completed the salaries and wages payroll for March. The payroll provided the following details: Salaries and wages carned Employee income taxes withhold YICA taxes withheld...

Q:

Brief Exercise 8-49 Payroll Taxes Sid's Grocery Store has 100 employees who earn a wage of $18.75 per hour. Each of Sid's employees has worked a total of 160 hours over the month of July. At the time...

Q:

Can someone please assist me with the following? List of Accounts Accounts Payable Accounts Receivable Accumulated Depreciation-Equipment Cash Cost of Goods Sold Depreciation Expense Equipment...

Q:

Brief Exercise 148 Total payroll of Walnut Co. was $1,000,000, of which $330,000 represented amounts paid in eos of $118,500 to certain employees. The amount paid to employees in excess of $7,000 was...

Q:

On September 1, Draper Company borrowed $180,000 from Dixion County Bank on a 6-month, 8% note *****************pLEASE USE THE SAME NUMBER OF BOXES AND FORMAT FOR AN EASY TRANSFER*******************...

Q:

Brief Exercise 8-49 Payroll Taxes Sid's Grocery Store has 100 employees who earn a wage of $18.75 per hour. Each of Sid's employees has worked a total of 160 hours over the month of July. At the time...

Q:

Sketch the output waveform for the circuit of Fig. 13.42. +12 V t kn 339 5 V rms FIG. 13.42 Problem 6

Q:

Do health care innovations raise or lower the overall cost of health care?

Q:

line of credit debt in corporate finance is similar to which debt in personal finance

Q:

P. Deen Enterprises Inc. has a total asset turnover ratio of 3.0 and a net profit margin of 9%. What is the companys return on assets?

Q:

Find the EPS, P/E ratio, and dividend yield of a company that has 5 million shares of common stock outstanding (the shares trade in the market at $25), earns 10% after taxes on annual sales of $150...

Q:

The Buffalo Manufacturing Company has total assets of $12 million, an asset turnover of 2.2 times, and a net profit margin of 14%. a. What is Buffalo's return on assets? b. Find Buffalo's ROE, given...

Q:

Financial Learning Systems has 2.5 million shares of common stock outstanding and 100,000 shares of preferred stock. (The preferred pays annual cash dividends of $5 a share, and the common pays...

Q:

The following data have been gathered from the financial statements of HiFly Corporation: Calculate the times interest earned ratios for 2012 and 2013. Is the company more or less able to meet its...

Q:

Which of the following is NOT a truth about entrepreneurship? Entrepreneurship is a life skill. Entrepreneurs collaborate more than they compete. Entrepreneurship can be taught, as it is a method...

Q:

2. What responsibilities do you have to Toya, to your supervisor, and to the company? How can you reflect thoughtfully about potential tensions between these responsibilities? Apply what youve...

Q:

2. Watch the fi lm An Unfi nished Life. Analyze the communication among the four main characters, with a focus on the system within which they operate. What are the elements of the system? Identify...

Q:

5. What careers are open to people with strong backgrounds in communication?