Federal income taxes for the employee

Assignment Help Accounting Basics

Reference no: EM13320705

1) Currently the FUTA is

A) .8% with a base limit of $7,000

B) 6.2% witha base limit of $76,200

C) 5.4% with a base limit of $76,200

D) 5.4% with a base limit of $7,000

2) Wich of the following statements is flase?

A) Payroll Tax Expense is an expense account.

B) FICA-Social Security Tax Payable increases on credit side of the account.

C) Suta Tax Payable increases on the debit side of the account.

D) Payroll Tax Expense increases on the debit side of the account.

3) Which form is used to report FICA taxes for the employer and employee, and also federal income taxes for the employee?

A) Form 941

B) Form W-4

C) Form 940EZ or Form 940

D) None of these answers are correct

Reference no: EM13320705

Questions Cloud

Prepare the journal entry to record the budget : A village ordered supplies for its Fire Department at an estimated cost of $16,700. The supplies were received with an invoice for $16,800.

Determine the change in the length of the solenoid : A 6.30 x 10 -5 H solenoid is constructed by wrapping 54 turns of wire around a cylinder with a cross-sectional area of 6.4 x 10-4 m2. Determine the change in the length of the solenoid

Find the total sound intensity : A man stands at the midpoint between two speakers that are broadcasting an amplified static hiss uniformly in all directions. Find the total sound intensity that the man hears when he is at his initial position halfway between the speakers

Budgetary journal entry at the beginning of fiscal : Actual revenues are equal to estimated revenues, and actual expenditures are $7,000 less than appropriations.

Federal income taxes for the employee : Which form is used to report FICA taxes for the employer and employee, and also federal income taxes for the employee?

What was the final temperature of the coins : In a physics lab experiment, a student immersed 206 one-cent coins (each having a mass of 3.00g ) in boiling water. What was the final temperature of the coins

Prepare traditional income statement : Scottsdale Fine Piano%u2019s purchases pianos from a well-known manufacturer and sells them through their retail store. The Baby Grand Pianos sell, on average, for $2,500 each

Compute the final pressure of the gas : A quantity of carbon monoxide gas is slowly compressed adiabatically in an insulated container to one-half of its volume. determine the final pressure of the gas

Calculate the carbon content required at surface of steel : A 0.02wt% C steel is to be carburized at 1200°C in 4 hrs with a point 0.6mm beneath the surface reaching 0.45wt%C. calculate the carbon content required at the surface of the steel.

User Account

All Pages