Art Parrish Is the Sole Employee of Parrish Sales

question 134

Multiple Choice

Art Parrish is the sole employee of Parrish Sales.His company pays a portion of his health insurance premium,and also contributes to a retirement plan in his name.The company share of the health insurance premium is $400,and the company contribution to the retirement plan is $550.The third journal entry in the payroll cycle to record the employee benefits to be paid by the company should include which of the following?

• A) Credit Cash
• B) Debit Health insurance expense
• C) Credit Retirement plan expense
• D) Debit Employee benefits payable

Comprehend the concept of digital infrastructure and its significance for businesses.

Grasp the principles of knowledge management and its target audience.

Recognize the evolving expectations of work-life balance in modern work environments.

Analyze the impact of individual-organization relationships on employees' performance and satisfaction.

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Definitions:

Condyle

A rounded protuberance at the end of some bones, forming an articulation with another bone.

Axial Skeleton

The part of the skeleton that includes the skull, vertebral column, ribs, and sternum, supporting the central axis of the body.

Clavicle

A long bone that serves as a strut between the shoulder blade and the sternum or breastbone, also known as the collarbone.

Coronoid Process

A protrusion on the upper end of the ulna, a bone in the forearm, which serves as an attachment point for muscles.