Zipperle Company Has the Following Payroll Information for the Pay

question 8

Multiple Choice

Zipperle Company has the following payroll information for the pay period ending September 18,20XX:
Which items would be debited in the General Journal entry to record the employees' share of the payroll?

• A) 401(k)contributions
• B) Garnishment
• C) Gross pay
• D) Net pay

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Definitions:

Inventory Loss

A decrease in the quantity or value of inventory due to factors like theft, spoilage, or obsolescence.

Quarterly Income Statements

Quarterly income statements are financial reports that outline a company's revenues, expenses, and profits over a three-month period, showing its financial performance.

Fiscal Year

A one-year period used for financial reporting and budgeting that doesn't necessarily align with the calendar year, varying from one organization to another.