Which of the following payroll items is not reflected on the income statement?
A)Federal withholding tax payable
B)Health insurance expense
C)Salaries and wages expense
D)Payroll taxes expense

Question

Quizplus · Accepted Answer

Federal withholding tax payable is a liability that is recorded on the balance sheet, not the income statement. Health insurance expense, salaries and wages expense, and payroll taxes expense are all expenses that are reflected on the income statement.

Which of the Following Payroll Items Is Not Reflected on the Income