The following totals for the month of April were taken from the payroll records
ID: 2584717 • Letter: T
Question
The following totals for the month of April were taken from the payroll records of Metz Company.
The entry to record the accrual of federal unemployment tax would include a
credit to Federal Unemployment Taxes Expense for $720.
debit to Federal Unemployment Taxes Payable for $720.
credit to Federal Unemployment Taxes Payable for $720.
credit to Payroll Tax Expense for $720.
Salaries $90000 FICA taxes withheld 6885 Income taxes withheld 19800 Medical insurance deductions 3600 Federal unemployment taxes 720 State unemployment taxes 4500Explanation / Answer
The entry to record the accrual of federal unemployment tax would include a credit to Federal Unemployment Taxes Payable for $720
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