The Following Totals for the Month of June Were Taken

question 49

Multiple Choice

The following totals for the month of June were taken from the payroll register of Parks Company. $$\begin{array}{ll}\text {Salaries and wages }&\text {\$80,000 }\\\text {FICA taxes withheld }&6,132\\\text {income taxes withheld}&17,600\\\text { medical insurance deductions}&3,200\\\text { federal unemployment taxes}&640\\\text {state unemployment taxes }&4,000\end{array}$$ The entry to record accrual of Parks Company's payroll taxes would include a

• A) debit to Payroll Tax Expense for $10,772
• B) credit to Payroll Tax Expense for $10,772
• C) credit to FICA Taxes Payable for $4,640.
• D) credit to Payroll Tax Expense for $4,640.

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Definitions:

Lifestream

A digital chronology of an individual's life activities, both online and off, aggregated from various sources and displayed in real-time.

Demographic

Statistical characteristics of human populations, such as age, gender, income, and education, used for identifying and analyzing target audiences.

Educational Attainment

The highest level of education an individual has completed, often used as a measure of workforce qualifications or socio-economic status.

Family Life Cycle

Stages through which a family progresses over time, from single individuals to married couples, parenthood, and retirement.