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18 November, 00:03

On October 15, Eco Brewers had a balance of $4, 390 in its Social Security tax payable account. It posted an additional $4, 390 on its October 31 pay date. Since Eco Brewers is a monthly schedule depositor, what entry should appear on November 15 for the remittance of the month's Social Security taxes?

a. Credit $8, 780

b. Debit $8, 780

c. Credit $4, 390

d. Debit $4, 390

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  1. 18 November, 00:17
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    Answer: The correct answer is "b. Debit $8, 780".

    Explanation: The entry that should appear on november 15 for the remittance of the month's social security taxes is "Debit $8, 780"

    Because the balance of $ 4390 in its Social Security tax payable account + the additional $ 4390 on its October 31 pay date = $ 8780.
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