The Following Totals for the Month of April Were Taken

question 69

Multiple Choice

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

• A)debit to Salaries and Wages Payable for $79,160.
• B)debit to Salaries and Wages Payable for $81,320.
• C)debit to Salaries and Wages Payable for $72,140.
• D)credit to Cash for $90,500.

Gain knowledge on the time value of money concepts and their application in investment decisions.

Recognize the impact of economic growth on environmental quality and resource management.

Understand the implications of fertility rates on population dynamics.

Calculate and interpret present value and future value in economic decision-making.

---

Definitions:

Technologically Obsolete

A state in which a product, service, or method has become outdated due to advances in technology, making it less efficient or desirable compared to newer options.

Numerically Controlled

Pertaining to machines or processes that are operated by precise instructions coded in the form of numbers.

Simple Rate

Refers to a basic or straightforward percentage that does not involve compounding over time, typically in finance.

Salvage Value

Salvage value is the estimated residual value of an asset after it has reached the end of its useful life and is no longer useful for its original purpose.