Use the following information to answer the questions below. Joelle Company has the following information...
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Use the following information to answer the questions below. Joelle Company has the following information for the pay period of January 1 15, 20xx. Payment occurs on January 20. Federal income tax withheld $8,000 7.65% 5.4% $900 Gross payroll Social Security and Medicare rate State unemployment tax rate Federal unemployment tax rate 0.8% 18 The entry to record the payroll would include a [A] debit to Salaries Expense for the gross payroll. [B] debit to Salaries Payable for the net amount. [C] debit to Salaries Expense for the amount paid to the employees. [D] credit to State Unemployment Tax Payable. 19 The entry to record the payroll tax expense would include a credit to [A] Social Security Tax Payable. [C] Federal Income Taxes Payable. [B] Salaries Payable. D] Cash. 20. The entry on January 20 would be a debit to [A] Salaries Expense and a credit to Salaries Payable. [B] Salaries Payable and a credit to Salaries Expense. [C] Salaries Payable and a credit to Cash. [D] Salaries Expense and a credit to Cash. Under the direct charge-off method of dealing with uncollectible accounts [A] Uncollectible Accounts Expense is recorded in the period of the sale. [B] revenues and expenses are properly matched. IC] Accounts Receivable is shown on the balance sheet at net realizable value. [D] no Allowance for Uncollectible Accounts exists. 21
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