APA CPP-Remote Exam - Topic 7 Question 69 Discussion

Actual exam question for APA's CPP-Remote exam

Question #: 69
Topic #: 7

An ER that deposits payroll taxes semiweekly incurs a tax liability of $55,000 on Tuesday and a tax liability of $110,000 on Wednesday. When must the taxes be deposited?

A$55,000 on Thursday and $110,000 on Friday

B$55,000 on Friday and $110,000 on the next Wednesday

C$110,000 on Thursday and $55,000 on Friday

D$165,000 on Thursday

Show Suggested Answer

Suggested Answer: C

by Glory at Apr 29, 2025, 03:47 PM

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Wava

2 months ago

I agree, option A sounds right to me!

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Arlette

2 months ago

Wait, can you really combine them like that? Seems off.

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Gilma

2 months ago

Taxes must be deposited by the following Monday for semiweekly deposits.

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Lai

3 months ago

I think it's Thursday for the $55k and Friday for the $110k.

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Bette

3 months ago

Definitely not option B, that's way too late!

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Ozell

3 months ago

I thought we had to deposit each amount separately, but I can't remember if they can be combined. I guess Thursday is the deadline for the first one, but what about the second?

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Francesco

3 months ago

I feel like the $55,000 from Tuesday has to be in by Thursday, but I'm confused about the $110,000 from Wednesday. Does it go in the same day or later?

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Elenor

4 months ago

I remember practicing a similar question where we had to combine liabilities. I think we might need to deposit both amounts by Thursday, but I can't recall the exact rules.

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Galen

4 months ago

I think the semiweekly deposit schedule means we have to pay the taxes by the following Thursday for the Tuesday liability. But I'm not sure about the Wednesday one.

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Alpha

4 months ago

I'm pretty confident the answer is B. The liabilities are incurred on Tuesday and Wednesday, so they need to be deposited on Friday and the next Wednesday.

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Bev

4 months ago

Wait, is the question asking for the total amount to be deposited or the individual deposit amounts? I'm a bit confused.

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Alita

4 months ago

Okay, I think I got this. The taxes need to be deposited on the next business day after the liability is incurred, so the answer must be B.

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Quentin

5 months ago

Hmm, not sure if I should add the two liabilities together or deposit them separately. Let me think this through carefully.

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Ivette

5 months ago

This seems straightforward, just need to figure out the deposit schedule based on the semiweekly liability amounts.

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