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Keith, an employee of Sunbeam, Inc., has gross salary for May of $10,000. The entire amount is under the OASDI limit of $118,500 and thus
Keith, an employee of Sunbeam, Inc., has gross salary for May of $10,000. The entire amount is under the OASDI limit of $118,500 and thus subject to FICA also subject to federal income tax at a rate of 25% Which of the following s a part of the journal entry to record the disbursement f his net pay? Assume a FICA-OASDI Tax of 62% and FICA-Medicare Tax of 145% Round the final answer to the nearest dollar) He is 0 A. debit to Employee Income Tax Payable of S6,735 O B. credit to Cash for $6,735 O C. debit to FICA Tax Payable of $6,735 O D. debit to Cash for $6,735
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