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Home Q & A Board Other Fields Homework Help Business Accounting
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H3Ko H3Ko
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Dan Jones and Pat Smith are two employees of Lone Star, Inc. In January 2017, Dan's gross pay was $11,500, and Pat's gross pay was $15,400. All earnings are subject to FICAOASDI Tax of 6.2% and FICAMedicare Tax of 1.45%. Which of the following would be included in the entry to record the payroll tax expense to be paid out by Lone Star, Inc. for January?
A) a credit to Salaries Expense for $390.05
B) a credit to FICAMedicare Taxes Payable for $390.05
C) a debit to FICAOASDI Taxes Payable for $390.05
D) a debit to Salaries Payable to employees for $390.05
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Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
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H3Ko Author
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7 years ago
Really appreciate your help. Sorry for taking so long to thank you, you deserve the recognition.
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