The following totals for the month of June were taken from the payroll register of Parks Company. $$\begin{array} { l r }
\text { Salaries and wages } & \$ 80,000 \
\text { FICA taxes withheld } & 6,132 \
\text { Income taxes withheld } & 17,600 \
\text { Medical insurance deductions } & 3,200 \
\text { Federal unemployment taxes } & 640 \
\text { State unemployment taxes } & 4,000
\end{array}$$ The entry to record the payment of net payroll would include a
A) debit to Salaries and Wages Payable for $48428.
B) debit to Salaries and Wages Payable for $53068.
C) debit to Salaries and Wages Payable for $49068.
D) credit to Cash for $49068.

Question

The following totals for the month of June were taken from the payroll register of Parks Company. $$\begin{array} { l r } 
\text { Salaries and wages } & \$ 80,000 \
\text { FICA taxes withheld } & 6,132 \
\text { Income taxes withheld } & 17,600 \
\text { Medical insurance deductions } & 3,200 \
\text { Federal unemployment taxes } & 640 \
\text { State unemployment taxes } & 4,000
\end{array}$$ The entry to record the payment of net payroll would include a
A) debit to Salaries and Wages Payable for $48428.
B) debit to Salaries and Wages Payable for $53068.
C) debit to Salaries and Wages Payable for $49068.
D) credit to Cash for $49068.

Quizplus · Accepted Answer

The Answer of The following totals for the month of June were taken from the payroll register of Parks Company. $$\begin{array} { l r } 
\text { Salaries and wages } & \$ 80,000 \
\text { FICA taxes withheld } & 6,132 \
\text { Income taxes withheld } & 17,600 \
\text { Medical insurance deductions } & 3,200 \
\text { Federal unemployment taxes } & 640 \
\text { State unemployment taxes } & 4,000
\end{array}$$ The entry to record the payment of net payroll would include a
A) debit to Salaries and Wages Payable for $48428.
B) debit to Salaries and Wages Payable for $53068.
C) debit to Salaries and Wages Payable for $49068.
D) credit to Cash for $49068.

The Following Totals for the Month of June Were Taken