which financial statement balance is not affected by a year end payroll accrual?

Question

which financial statement balance is not affected by a year end payroll accrual? A. Wages and salary expense. B. Wages and salaries payable. C. Payroll tax expense. D. Federal unemployment taxes payable. E. Liability for federal income taxes withheld wouid be obtained from: a. sales journal perpetual inventory records d. e. physical inventory records sales orders c. sales invoices 19 W hich of the following are not shown on a fixed asset subsidiary ledger? a. estimated life b. accumulated depreciation balance c. cost of the asset tien of the asset all of the above are shown on the fixed asset subsidiary ledger 20. Which financial statement balance is not affected by a year-end payroll accrual? a. wage and salary expense b. wages and salaries payable c. payroll tax expense d. federal unemployment taxes payable e. liability for federal income taxes withheld Which, if any, of the following is not a reason for preparing an accounts receivable a trial balance? 21. Reconcile the control and subsidiary accounts. Display activity (cash receipts and sales) for each individual account a. niont format a listing of accounts receivable for management re

Explanation / Answer

Solution: Federal unemployment taxes payable

Explanation: The debit entries are salary expense, wages expense and payroll tax expense. The credit entries are benefit deductions such as net pay, tax withholding and taxes owed. It also affects the the liability for federal income taxes withheld

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