1)

Which of the following taxes would be deducted in determining an employee's net pay?

a. Federal Income Taxes

b. Medicare Taxes

c. Social Security Taxes

d. all of the above

2_

If beginning owners equity was $65,000, ending owners equity is $43,000, and the owner's withdrawals were $16,000, the amount of net income or net loss was:

a.net income of $37,000

b. net income of $8,000

c. net loss of $22,000

d.net loss of $6,000

3_

The Cash Payments Journal will generally:

a. Debit Accounts Payable and Credit Expenses

b. Debit Accounts Payable and Credit Equity

c. Debit Cash and Credit Accounts Payable

d. Debit Accounts Payable and Credit Cash