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  1. business
  2. accounting
  3. indicate whether each of the following statements

indicate whether each of the following statements is true or false, a) The amount of...

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Accounting

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indicate whether each of the following statements is true or false, a) The amount of federal tax withheld from an employee's salary depends on the employee's gross pay and the number of withholding allowances the employee claims. True b) Withheld taxes are recorded in the payroll tax expense account (Click to solact) C) An employer will submit $8,250 in FICA taxes for an employee who earns $55,000 annually. (Assume a Social Security rate of 6 percent on the first $110,000 of income and a Medicare rate of 1.5 percent on all earnings.) (Click to select) d) A voluntary deduction, such as a charitable contribution, creates a liability when it is withheld from employee pay. (Click to select) e) if an employer records gross pay of $2,400 and withholds $700 of that amount, then the employer will recognize $1700 in salary expense

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