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3 years ago

The journal entry to record employer payroll taxes owed affects ______.

Business

1 answer:

weeeeeb [17]3 years ago

5 0

Answer:

a) liabilities only

Explanation:

The journal entry to record the payroll tax expense is shown below:

Payroll tax expense A/c Dr

To Social security tax payable A/c

To Medicate tax payable A/c

To State Unemployment tax payable A/c

To Federal Unemployment tax payable A/c

(Being the payroll tax expense is recorded)

The payroll tax expense is shown on the debit side of the income statement whereas payroll tax payable is shown on the liabilities side of the balance sheet

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Two things that help you begin decomposing work are _____ and _____. Select an answer: reporting period; deliverables the scope

Rashid [163]

Answer:

the scope statement; deliverables

Explanation:

"Decomposing" a project will ensure an efficient way of accomplishing the project's goal. Before doing this, it is important to know what "the scope statement" is and the "deliverables" (multiple tasks in the production).

"The scope statement" allows one to know what should be included in the decomposition. It also tells when you are going to stop breaking down and what tasks are to be included. Once you know this, it becomes easier to decompose a project with one deliverable at a time. The scope will also be further clarified.

So, this explains the answer.

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2 years ago

How does selling shares on the stock exchange benefit companies?

Jlenok [28]

Answer:

Explanation:

They sell shares at a price to investors. They then use these funds to help grow their business and in turn pay dividends to shareholders

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2 years ago

The auditors are concerned about transactions that have been recorded in the journals (and subsequently in the ledgers) that are

rodikova [14]

Complete question:

Assume the following general flow of documents in an accounting system. Reply to the following question:

"Source Documents --> Journals --> Ledgers"

The auditors are concerned about source documents that reflect valid transactions that have not been recorded in the journals. Which procedure would be most effective?

(1) Trace from source documents to journals.

(2) Vouch from journals to source documents.

Either (1) or (2).

Answer:

(1) Trace from source documents to journals.

Explanation:

Tracing is the method of tracking the transaction back to the source document in accounting records. Transaction failures are monitored and auditors are often used to ensure whether transactions have been properly reported.

Tracing relates to the compilation and the follow-up to the record of an financial transaction (the source document).

Tracing checks to see that the transactions that happened in the financial reports are registered. Therefore it would be most effective to translate "Trace documents from source into journals."

3 0

3 years ago

When picking an order at Amazon what should I do with perfume

xxMikexx [17]

Ummm i don’t think i understand the question

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3 years ago

You are at the checkout counter at the local supermarket, use your debit card to pay for your groceries, and select “credit” whe

vekshin1

Answer:

Explanation:

The checking account is also known by other names such as current account, transaction account, etc. This account helps in immediate access by the owner of the account for transactions. This account is used for immediate transactions when the owner use a debit card, or withdraws cash.

In the given case, the money will be deducted from the checking account or current account when he use the debit card.

Therefore the correct answer is option B.

6 0

3 years ago