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

question 78

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. His year-to-date pay has already exceeded the $7,000 cap for FUTA and SUTA. Which of the following is a part of journal entry in the payroll cycle to record the employer's payroll taxes?

• A)credit to Payroll Tax Expense
• B)debit to FICA Tax Payable
• C)credit to FICA-Medicare Tax Payable
• D)debit to Cash

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Definitions:

Cataract

Complete or partial opacity of the lens of the eye.

Lens of the Eye

A transparent structure behind the iris of the eye that helps to refract light to be focused on the retina.

Acute Central Vision

Acute central vision refers to the component of vision that is responsible for sharp, detailed vision in the direct line of sight.

External Auditory Canal

The tube that connects the outer ear to the eardrum, allowing sound waves to enter the ear.