As of the June 11 Pay Date, the General Ledger

question 57

Multiple Choice

As of the June 11 pay date, the General Ledger account for Burling Mills has a balance of $14,289 in its Federal withholding tax payable account. A credit of $16,250 is recorded on the June 25 pay date. What is the balance in the account?

• A)Debit $1,961
• B)Debit $30,539
• C)Credit $1,961
• D)Credit $30,539

---

Definitions:

Cost Price Approach

A pricing methodology where the selling price of a product is determined by adding a markup to its total cost of production or acquisition.

Return on Investment

A financial metric used to evaluate the efficiency or profitability of an investment, calculated by dividing the benefit (return) of an investment by the cost of the investment.

Invested Assets

Assets or capital that have been allocated or deployed with the expectation of earning a return or profit.

Operating Expenses

Expenses incurred in the regular operation of a business, such as rent, salaries, utilities, and office supplies, but excluding cost of goods sold.