The Following Data Is for the January 19 Pay Date

question 30

Multiple Choice

The following data is for the January 19 pay date for Waryzbok Inc.: Jan 19 Wages and salaries expense 522 $ 12,987.00
Federal withholding tax payable 220 $ 2,207.79
Social Security tax payable 221 ???
Medicare tax payable 222 ???
401(k) contributions payable 223 454.55
Health Insurance payable 224 944.15
State Income tax payable 227 324.68
Wages and salaries payable 226 8,134.55
Jan 19 Wages and salaries payable 226 8,134.55
Cash 101 8,134.55
Which of the following represents the missing Social Security and Medicare taxes, assuming that the health
Insurance is qualified under Section 125?

• A) Social Security tax, $204.15; Medicare tax, $792.35
• B) Social Security tax, $792.35; Medicare tax, $204.15
• C) Social Security tax, $746.66; Medicare tax, $174.62
• D) Social Security tax, $188.31; Medicare tax, $805.19

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Definitions:

American Medical Association

A professional association for physicians in the United States aimed at advancing public health and ethical standards in the medical profession.

American Hospital Formulary

A comprehensive listing of medications and related information used by hospitals, aimed at promoting effective and safe use of drugs.

Classification Of Drugs

The classification of drugs involves organizing them into categories based on their mode of action, chemical structure, or therapeutic and pharmacological effects.

HCPCS Level II

Healthcare Common Procedure Coding System Level II, a standardized coding system used for billing a wide range of services and supplies not covered by the traditional CPT codes.