How does the recording for bad debt expenses differ between the method required for GAAP versus the IRS requirement?

 

What type of account is a wage expense account?

In which type of account are payroll deductions recorded?

Find and correct the error(s) in the following general journal entry which recorded a company’s payroll liability: DR Office Salaries Expense, $1,000; CR Social Security Tax Expense, $200. DR Health Insurance Premium Expense, $50. DR Cash, $750. (check all that apply)

Which is example of payroll liabilities? (check all that apply)

What are the three primary payroll deductions that federal law requires? (check all that apply)

What is the amount that an employee actually receives before taxes and all withholdings on their check referred to as (check all that apply)?

Check all subgroups that sales analysis could be broken down into (check all that apply):

What does FICA refer to (check all that apply)?

For a not for profit entity, assets = liabilities + __.

For a not for profit entity, what financial statement would you request to view their assets and liabilities?