Which of the following statements is false relating to payroll taxes?
A)When recording the payroll entry,the credit to wages payable is usually more than the debit to wages expense.
B)CPP is a "matching" tax with the employer.
C)Income taxes withheld from employees' paychecks are liabilities of the employer.
D)When the salaries expense entry is recorded,the credit to cash will be for less than the debit to salaries expense.

Question

Quizplus · Accepted Answer

The credit to wages payable is usually less than the debit to wages expense because wages payable is the net amount after deductions like taxes and other withholdings.

Which of the Following Statements Is False Relating to Payroll