The Following Totals for the Month of June Were Taken

question 21

Multiple Choice

The following totals for the month of June were taken from the payroll register of Parks Company. $$\begin{array}{ll}\text {salaries and weges }&\$80,000\\\text {FICA taxes withheld }&6,132\\\text { income taxes withheld}&17,600\\\text {medical insurance deductions }&3,200\\\text { federal unemployment taxes}&640\\\text {state unemployment taxes }&4,000\end{array}$$ Parks' total payroll tax expense for the period is

• A) $4,640.
• B) $10,772.
• C) $23,732.
• D) $28,332.

Explain the role of packaging and advertising in promoting brand identity.

Analyze the benefits and risks associated with co-branding and brand extensions.

Grasp the concept and strategies behind rebranding and brand revitalization.

Understand the impact of brand loyalty on consumer behavior and firm success.

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Definitions:

Voucher System

An accounting system that involves preparing and using vouchers, which are documents that authorize and record the payment of a company expense.

Cash Payments

Transactions involving the immediate transfer of cash to settle the purchase of goods, services, or a debt.

Liabilities

Financial obligations of a business, such as loans, accounts payable, and mortgages, that it is required to pay to others.

Principles

Fundamental concepts or general laws that guide business practices, accounting standards, and financial reporting.