The employer should record payroll deductions as: Employee receivables Payroll taxes Current liabilities Wages payable Employee payables

Finance Mar 25, 2021

The employer should record payroll deductions as:

1. Employee receivables
2. Payroll taxes
3. Current liabilities
4. Wages payable

1. Employee payables

Expert Solution

Answer:

c . Current liabilities

Step-by-Step explanation

Correct option is "C".

Current liabilities are the amount due to paid within one year.

It shows the debt of the company obligations that should be paid within a year.

Payroll deduction is an amount withdraws from the employee's payroll check. These deductions are insurance, pension contribution, taxes, wages homework's etc. which can be paid within one year.

Therefore, the employer should record payroll deduction as current asset.

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