Question
he following data is for the March 19 pay date Date Account Title Account Number Debit Credit March 19 Wages and salaries expense 522 $
he following data is for the March 19 pay date
| Date | Account Title | Account Number | Debit | Credit |
|---|---|---|---|---|
| March 19 | Wages and salaries expense | 522 | $ 12,987.00 | |
| Federal withholding tax payable | 220 | $ 2,207.79 | ||
| Social Security tax payable | 221 | ??? | ||
| Medicare tax payable | 222 | 174.62 | ||
| 401(k) contributions payable | 223 | 454.55 | ||
| Health Insurance payable | 224 | 944.15 | ||
| State Income tax payable | 227 | 324.68 | ||
| Wages and salaries payable | 226 | 8,134.55 | ||
| March 19 | Wages and salaries payable | 226 | 8,134.55 | |
| Cash | 101 | 8,134.55 |
Which of the following represents the missing Social Security tax, assuming that the health insurance is qualified under Section 125?
Multiple Choice
Social Security tax, $746.66
Social Security tax, $805.19
Social Security tax, $718.47
Social Security tax, $792.35
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Principles of Managerial Finance
Authors: Chad J. Zutter, Scott B. Smart
15th edition
013447631X, 134476315, 9780134478197 , 978-0134476315
