Art Parrish, the Sole Employee of Parrish Sales, Has Gross

question 40

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 $110,100, and thus subject to FICA. He is also subject to federal income tax at a rate of 18%. Art has a deduction of $320 for health insurance and $80 for United Way. Which of the following is included in the entry in the payroll cycle to record the liability of payroll withholding deductions?

• A)debit to Salary Payable
• B)credit to United Way Payable
• C)debit to FICA Tax Payable
• D)debit Cash

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Definitions:

Democratic Style

A parenting or leadership approach characterized by mutual respect and considering everyone's opinions before making decisions.

Charisma

Charisma is the compelling attractiveness or charm that can inspire devotion in others.

360-Degree Feedback

A performance appraisal system where employees receive confidential, anonymous feedback from the people who work around them, including peers, managers, and direct reports.

Unique Strengths

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