Kevin,an Employee of Sunbeam,Inc

question 10

Multiple Choice

Kevin,an employee of Sunbeam,Inc. ,has gross salary for May of $8,000.The entire amount is under the OASDI limit of $117,000 and thus subject to FICA.He is also subject to federal income tax at a rate of 20%.Which of the following is a part of the journal entry to record the disbursement of his net pay? (Assume a FICA-OASDI Tax of 6.2% and FICA-Medicare Tax of 1.45%. )

• A)debit to Cash for $5,788.00
• B)credit to Cash for $5,788.00
• C)debit to Employee Income Tax Payable of $5,788.00
• D)debit to FICA Tax Payable of $5,788.00

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Definitions:

Project Management

The process of leading the work of a team to achieve goals and meet success criteria at a specific time.

Inception

The beginning or start of something, particularly an idea or project.

Slack

Excess capacity or time available in a system, often seen as a buffer to accommodate unforeseen circumstances.

Schedule

A plan for carrying out a process or procedure, listing the times at which specific events are intended to occur.