Use this information to answer the following question. The entry to record the payroll taxes expense would include a credit to
A) Salaries Payable.
B) Federal Income Taxes Payable.
C) Social Security Tax Payable.
D) Cash.

Question

Use this information to answer the following question.  The entry to record the payroll taxes expense would include a credit to
A) Salaries Payable. 
B) Federal Income Taxes Payable. 
C) Social Security Tax Payable. 
D) Cash.

Quizplus · Accepted Answer

The entry to record payroll taxes expense would involve a debit to Payroll Taxes Expense and a credit to Social Security Tax Payable, as this is a liability account that represents the amount of Social Security tax owed by the company and not yet paid. The other options (Salaries Payable, Federal Income Taxes Payable, and Cash) are not relevant to the recording of payroll taxes expense.

Use This Information to Answer the Following Question