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The following totals for the month of June were taken from the payroll register of Arcon Company: Salaries expense $14,000 Social security and Medicare taxes
The following totals for the month of June were taken from the payroll register of Arcon Company: Salaries expense $14,000 Social security and Medicare taxes withheld 1.050 Income taxes withheld 2.600 Retirement savings 1.000 The entry to record the payment of net pay would include a a. credit to salaries payable for $9.350 debit to salaries payable for $9.350 O c. debit to salaries payable for $14.000 O d. credit to salaries expense for S9,350 Check two disadvantages of corporations O Tax treatment O Government regulation O its a separate legal entity O lack of mutual agency, it does NOT have unlimited liability QUESTION 3 Check two advantages of corporations O Tax treatment O its a separate legal entity O Government regulation O lack of mutual agency, it does NOT have unlimited liability
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