The following totals for the month of April were taken from the payroll records of Noll Company. $$\begin{array} { l r }
\text { Salaries } & \$ 120,000 \
\text { FlCA taxes withheld } & 9,180 \
\text { Income taxes withheld } & 25,000 \
\text { Medical insurance deductions } & 4,500 \
\text { Federal unemployment taxes } & 320 \
\text { State unemployment taxes } & 2,160
\end{array}$$ Recording the payment of net payroll would include a(n)

Question

The following totals for the month of April were taken from the payroll records of Noll Company. $$\begin{array} { l r } 
\text { Salaries } & \$ 120,000 \
\text { FlCA taxes withheld } & 9,180 \
\text { Income taxes withheld } & 25,000 \
\text { Medical insurance deductions } & 4,500 \
\text { Federal unemployment taxes } & 320 \
\text { State unemployment taxes } & 2,160
\end{array}$$ Recording the payment of net payroll would include a(n)

Quizplus · Accepted Answer

The net payroll is calculated as Salaries minus FICA taxes, Income taxes, and Medical insurance deductions: $120,000 - $9,180 - $25,000 - $4,500 = $81,320.

The Following Totals for the Month of April Were Taken