The Following Totals for the Month of June Were Taken

question 64

Multiple Choice

The following totals for the month of June were taken from the payroll register of Parks Company. $$\begin{array}{ll}\text {salaries and wages }&\$80,000\\\text { FICA taxes withheld}&6,132\\\text { income taxes withheld}&17,600\\\text {medical insurance deductions }&3,200\end{array}$$ The journal entry to record the monthly payroll on June 30 would include a

• A) debit to Salaries and Wages Expense for $80,000.
• B) credit to Salaries and Wages Payable for $80,000.
• C) debit to Salaries and Wages Payable for $80,000.
• D) debit to Salaries and Wages Expense for $53,068.

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Definitions:

Erroneous Legal Description

A mistake or inaccuracy in the written account of the boundaries or details of a property in legal documents.

Sale of Land

The transfer of ownership of a parcel of real estate from one party to another, typically through a legal process.

Excludes Liability

A clause or agreement that absolves one party from legal responsibility or damages in specific circumstances.

Fraud

Wrongful or criminal deception intended to result in financial or personal gain.