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Grant, an employee of Fitzgerald, Inc., has gross salary for March of $4,000. The entire amount is ...

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Grant, an employee of Fitzgerald, Inc., has gross salary for March of $4,000. The entire amount is ...

Grant, an employee of Fitzgerald, Inc., has gross salary for March of $4,000. The entire amount is under the OASDI limit of $117,000, and thus subject to FICA. His year-to-date pay has already exceeded the $7,000 cap for FUTA and SUTA. Which of the following is a part of the journal entry to record the employer's payroll taxes?
A) debit to FICA Taxes Payable
B) debit to Cash
C) credit to Payroll Tax Expense
D) credit to FICAMedicare Taxes Payable

Textbook

Horngren's Financial & Managerial Accounting, The Financial Chapters

Edition: 5^th

Authors: Miller-Nobles, Mattison, Matsumura

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H3Ko Author

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I just realized you had posted this! Thanks so much

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