Use This Information for Magnum Company to Answer the Following

question 179

Multiple Choice

Use this information for Magnum Company to answer the following questions.
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The following totals for the month of April were taken from the payroll register of Magnum Company:
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$$\begin{array} { l r } \text { Salaries } & \$ 12,000 \\\text { FICA taxes withheld } & 900 \\\text { Income taxes withheld } & 2,500 \\\text { Medical insurance deductions } & 450 \\\text { Federal unemployment taxes } & 32 \\\text { State unemployment taxes } & 216\end{array}$$ ​
-The journal entry to record the monthly payroll on April 30 would include a

• A) credit to Salaries Payable for $8,150
• B) debit to Salaries Expense for $7,902
• C) debit to Salaries Payable for $8,150
• D) debit to Salaries Payable for $7,902

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Definitions:

Monitoring

The systematic observation, tracking, and evaluation of activities, progress, or performance to ensure objectives are met.

Manager's Organizational Unit

A specific section or department within an organization that is led and overseen by a manager.

Performance Of Subordinates

The level of efficiency and effectiveness demonstrated by employees in achieving their job responsibilities.

External Monitoring

The process of periodically reviewing and assessing the external environment to understand opportunities and threats relevant to an organization's objectives.