The following totals for the month of June were taken from the payroll register

Question

The following totals for the month of June were taken from the payroll register of Ford Company.

Salaries and wages $40,000
FICA taxes withheld 3,066
Income taxes withheld 8,800
Medical insurance deductions 1,600
Federal unemployment taxes 320
State unemployment taxes 2,000

The entry to record the accrual of federal unemployment taxes would include a

credit to Payroll Tax Expense for $320.

credit to Federal Unemployment Taxes Expense for $320.

debit to Federal Unemployment Taxes Payable for $320.

credit to Federal Unemployment Taxes Payable for $320.

Explanation / Answer

Hi, Option D (Credit to Federal Unemployment Taxes Payable for $320) is correct. Thanks, Aman

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