The Following Totals for the Month of March Were Taken

question 193

Multiple Choice

The following totals for the month of March were taken from the payroll records of Kern Company. Salaries $54,000
FICA taxes withheld 4,131
Income taxes withheld 11,880
Medical insurance deductions 783
Federal unemployment taxes 432
State unemployment taxes 2,700
The entry to record the payment of net payroll would include a

• A) debit to Salaries and Wages Expense for $34,074.
• B) debit to Salaries and Wages Payable for $37,206.
• C) debit to Salaries and Wages Payable for $34,074.
• D) credit to Cash for $34,074.

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Definitions:

Intergenerational Mobility

The changes in social status that occur from one generation to the next within a family or kinship group, often measured in terms of income or educational achievement.

Intragenerational Mobility

Intragenerational mobility refers to the changes in social status that occur within a person's lifetime, highlighting how individuals can move up or down the social hierarchy through their own efforts or circumstances.

Classism

An ideology that suggests that people’s relative worth is at least partly determined by their social and economic status.

Social Stratification

The hierarchical arrangement of individuals in a society into different classes, castes, or social groups based on factors like wealth, income, race, education, and power.