Use This Information to Answer the Following Question Payroll Taxes and Benefits Expense Would Be Recorded for
A)

question 49

Multiple Choice

Use this information to answer the following question. $\begin{array}{lrlr}\text { Gross payroll } & \$ 16,000 & \text { Federal income taxes withheld } & \$ 1,800 \\\text { Social security and Medicare rate } & 7.65 \% & \text { Federal unemployment tax rate } & .8 \%\\\text { State unemployment tax rate}&5.4\%\end{array}$
Payroll Taxes and Benefits Expense would be recorded for

• A) $1,224.
• B) $2,216.
• C) $4,016.
• D) $992.

---

Definitions:

Apartment Building

A multi-unit residential building where each unit is occupied by different tenants for dwelling purposes.

Maintenance

The act of keeping property, equipment, or systems in working order by performing routine checks and repairs.

Net Income

The residual income of a company or individual after all expenses, taxes, and deductions have been subtracted from total revenue.

IRS Method

Techniques and guidelines set by the Internal Revenue Service for calculating and filing taxes.