the following totals for the month of april were taken from the payroll records of metz company. the accrual of federal unemployment tax would include a(n) question 3 options: increase to federal unemployment taxes payable for $720. decrease to federal unemployment taxes expense for $720. decrease to payroll tax expense for $720. decrease to federal unemployment taxes payable for $720.

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21-11-2022
Business

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the following totals for the month of april were taken from the payroll records of metz company. the accrual of federal unemployment tax would include a(n) question 3 options: increase to federal unemployment taxes payable for $720. decrease to federal unemployment taxes expense for $720. decrease to payroll tax expense for $720. decrease to federal unemployment taxes payable for $720.

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gauravsingh23VT gauravsingh23VT · Answer 1 · 2022-11-29T05:56:16-05:00

The accrual of federal unemployment tax would include an increase to federal unemployment taxes payable for $720. Hence, option A is correct.

What is unemployment tax?

The Federal Unemployment Tax Act, which works with state unemployment systems, makes it feasible to pay unemployment benefits to workers who have lost their jobs. The majority of firms must pay both federal and state unemployment taxes.

It's possible that some government departments, charities, and colleges are exempt from paying FUTA and SUTA taxes. But if a company pays employees, it must pay FUTA and SUTA taxes.

Thus, option A is correct.

For more information about unemployment tax, click here:

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