56. What is debited if State Unemployment Tax Payable (SUTA) is crei Payroll Tex

Question

56. What is debited if State Unemployment Tax Payable (SUTA) is crei Payroll Tex Expense b. Cash c. Salaries Payable d. Salaries Expense 57. The following amounts are an expense to the company except a FICA OASDI Payable b. FUTA Payable C SUTA Payable d. All of the above. 58. A company must pay Form 941 taxes electronically b. they pay more than $200,000 in a iven year c. they pay less than $200,000 in a given year d. The company would never have to pay electronically 59. The side that increases the balance of the Sales Discount accounts a, a credit b. a debit d. It does not have a normal belance. 60. A reduction given to customers for early payment is a a. sales returns and allowance purchase discount discount d purchase return 61. A characterislic of the account, Sales Discount, is a. debit balance b, contra-revenue account c. records the cash discounts granted to customers d. All of the above. 62. Merchandise is the same as invenbory b. an asset c, the same as gross sales t. a and b ony

Explanation / Answer

56. a. Payroll Tax Expense.

59. b. A debit.

60. c. Sales Discount.

61. d. All of the above.

62. d. a and b only.

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