Question 1 The following totals for the month of April were taken from the payro

Question

Question 1 The following totals for the month of April were taken from the payroll records of Pharoah Company. Salaries FICA taxes withheld Income taxes withheld Medical insurance deductions Federal unemployment taxes State unemployment taxes $148800 11380 31000 5600 400 2680 The entry to record the accrual of federal unemployment tax would include a O debit to Federal Unemployment Taxes Payable for $400 e credit to Payroll Tax Expense for $400. O credit to Federal Unemployment Taxes Payable for $400. ( debit to Federal Unemployment Taxes Expense for $400.

Explanation / Answer

correct option is "C" -credit to federal unemployment tax payable 400

Entry for this:

Payroll tax expense debit 400

Federal Unemployment taxpayable credit 400

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