Posted: April 27th, 2016

Which form is used to report FICA taxes for the employer and employee, and also federal income taxes for the employee?

The account for Payroll Tax Expense includes all of the following except14) The 941 taxes include:
A) property tax.
B) FUTA.
C) SUTA.
D) FICA.

15) Form 8109 is:
A) sent directly to the IRS.
B) a federal tax deposit coupon.
C) used when paying SUTA tax.
D) All of these answers are correct.

16) Which form is used to report FICA taxes for the employer and employee, and also federal
income taxes for the employee?
A) Form 941
B) Form W-4
C) Form 940EZ or Form 940
D) None of these answers are correct.

18) How often is a 940 filed?
A) Quarterly
B) Annually
C) During an eight-month period
D) All of these answers are correct.

22) Which of the following statements about subsidiary ledgers is most accurate?
A) The subsidiary ledger accounts will equal the amount in the Sales account.
B) The subsidiary ledger accounts will never equal the control account in the general ledger.
C) The accounts receivable ledger is a book of accounts that provides supporting detail for
Accounts Receivable.
D) All of these answers are correct.

25) Collected from a charge customer: This will be recorded with:
A) a credit to a liability account.
B) a credit to an owner’s equity account.
C) a credit to an asset account.
D) None of these are correct.