Examlex

Solved

Grammy's Bakery Had the Following Information for the Pay Period

question 28

Multiple Choice

Grammy's Bakery had the following information for the pay period ending June 30: Grammy's Bakery had the following information for the pay period ending June 30:     FICA-OASDI applied to the first $106,800 at a rate of 6.2%. FICA-Medicare applied at a rate of 1.45%. FUTA applied to the first $7,000 at a rate of 0.8%. SUTA applied to the first $7,000 at a rate of 5.6%. State income tax is 3.8%. Given the above information, what would be the amount applied to Kitchen Salaries Expense? A) Debit $12,000 B) Credit $12,000 C) Debit $2,000 D) Credit $2,000 Grammy's Bakery had the following information for the pay period ending June 30:     FICA-OASDI applied to the first $106,800 at a rate of 6.2%. FICA-Medicare applied at a rate of 1.45%. FUTA applied to the first $7,000 at a rate of 0.8%. SUTA applied to the first $7,000 at a rate of 5.6%. State income tax is 3.8%. Given the above information, what would be the amount applied to Kitchen Salaries Expense? A) Debit $12,000 B) Credit $12,000 C) Debit $2,000 D) Credit $2,000 FICA-OASDI applied to the first $106,800 at a rate of 6.2%.
FICA-Medicare applied at a rate of 1.45%.
FUTA applied to the first $7,000 at a rate of 0.8%.
SUTA applied to the first $7,000 at a rate of 5.6%.
State income tax is 3.8%.
Given the above information, what would be the amount applied to Kitchen Salaries Expense?


Definitions:

Lineages

Sequences of species that have evolved from a common ancestor, depicted in family trees showing evolutionary relationships.

Extrinsic Postzygotic Isolation

A reproductive barrier where offspring of two different species are viable and fertile, but external factors prevent them from thriving.

Mimetic

Relating to or involving mimicry, often used to describe organisms that imitate other species or their environment for survival benefits.

Viable/Fertile Offspring

Offspring that are capable of surviving to maturity and reproducing, indicating successful genetic compatibility between parents.

Related Questions