To journalize the payment of social securitytax to the IRS,the correct entry would be?

Question

a)debit social security tax expense and credit cash
b)debit social security tax payable and credit cash
c)debit social security tax payable and credit payroll taxes expense
d)debir social security tax payable and credit social security payable

Answer 1

more school answers....

Since the payment of something is obviously going to be recorded as a credit to some sort of cash account, you can rule out c and d right away.

c can further be ruled out because expenses are always debits

Since SS tax is paid after the expense is accrued, the entry to record that would be a debit to SS tax expense, and a credit to SS tax payable.

When this is actually paid, it would be a credit to cash and a debit to the SS tax payable, which is B.

Answer 2

b.