Explain the recording employers payroll taxes, Accounting Basics

Explain the Recording employer's payroll taxes

Debited to an expense account-Payroll Tax Expense.

Credited to individual Tax Payable accounts

These amounts are then sent to appropriate agency.

Related Discussions:- Explain the recording employers payroll taxes

The operating expenses section, The operating expenses section Operati...

The operating expenses section Operating Expenses - directly associated to the sale of merchandise General expenses (administrative expenses) related to business's offic

During the current year, During the current year, Mast Corporation expects ...

During the current year, Mast Corporation expects to produce 10,300 units and has budgeted the following: net income $350,376; variable costs $1,080,800; and fixed costs $105,000

Balancing of account, please i need to know how to solve question in balanc...

please i need to know how to solve question in balance sheet

What are the break-even levels of ebit, John is considering the best capita...

John is considering the best capital structure for his firm. Suppose there are two capital structures for him to choose from. Structure A would have 7,000 shares of stock and $160,

Generally accepted auditing standards, Generally Accepted Auditing Standard...

Generally Accepted Auditing Standards (GAAS) - Standards set by AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS (AICPA) which concern AUDITOR'S professional qualities and judgme

A firm is evaluating two machines, A firm is evaluating two machines. The f...

A firm is evaluating two machines. The first costs $250,000 and will require annual maintenance of $30,000 per year for 10 years. At the end of 10 years, the salvage value will b

Example of statement of retained earnings, Q. Example of Statement of retai...

Q. Example of Statement of retained earnings? Statement of retained earnings The statement of retained earnings as you remind is a financial statement that summarizes the trans

The book of Deven Verma could not be tallied. The accountant, The book of D...

The book of Deven Verma could not be tallied. The accountant transferred the difference of Rs. 1,270 in the suspense account on the debit side. The following mistakes were found la

Dogwood florist opened a business january 1st 2010., Dogwood florist opened...

Dogwood florist opened a business January 1st 2010. During 2010, they had the following transactions and economic events. For each of the transactions and economic events prepare

Evaluation of data - scope of accounting, Data evaluation is observed as th...

Data evaluation is observed as the most significant activity in accounting recently. Evaluation of data comprises controlling the activities of business along with the assist of bu

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages