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Question 16 A firm has the following monthly payroll for June, 2016: Total salaries $240,000 Salaries subject to FICA taxes (6.2% + 1.45%) 240,000 Salaries
Question 16
A firm has the following monthly payroll for June, 2016:
| Total salaries | $240,000 |
| Salaries subject to FICA taxes (6.2% + 1.45%) | 240,000 |
| Salaries subject to FUTA (0.8%) and state unemployment taxes (2.7%) | 56,000 |
| Income taxes withheld | 21,600 |
In recording the payroll, the net payroll payable is:
| A. | $200,040 | |
| B. | $175,916 | |
| C. | $121,876 | |
| D. | $194,400 |
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Financial Accounting
Authors: Robert Kemp, Jeffrey Waybright
2nd edition
978-0132771801, 9780132771580, 132771802, 132771586, 978-0133052152
