Art Parrish,the Sole Employee of Parrish Sales,has Gross Salary for March

question 90

Multiple Choice

Art Parrish,the sole employee of Parrish Sales,has gross salary for March of $4,000.The entire amount is under the OASDI limit of $106,800,and thus subject to FICA.He is also subject to federal income tax at a rate of 18%.His year-to-date pay has already exceeded the $7,000 cap for FUTA and SUTA.The fifth journal entry in the payroll cycle to record the payment by the company of payroll taxes to the government includes which of the following?

• A) Credit to Cash
• B) Credit to Employee income tax payable
• C) Credit to FICA tax payable
• D) Debit to Salary payable

Describe the significance of human capital investments in the labor market.

Understand the effects of minimum wage policies on employment and labor market dynamics.

Be familiar with the legal and organizational structure of unions and labor laws in the United States.

Understand the impact of New Deal policies on American society and its various demographic groups.

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Definitions:

Smoking

Smoking is the act of inhaling and exhaling the smoke produced by burning tobacco in cigars, cigarettes, or pipes, often associated with health risks.

E-cigarettes

Battery-operated devices that deliver nicotine with flavorings and other chemicals to the lungs in vapor instead of smoke.

Nicotine Withdrawal

The range of symptoms experienced when quitting or reducing intake of nicotine, including cravings, irritability, and anxiety.

Anxiety

A feeling of worry, nervousness, or unease about something with an uncertain outcome, often reflecting a natural response to stress.