In December 2011, B. Rich worked for Payless, Inc and earned 10,000. Federal income tax withholding is 20. The FICA rate is 6.2 and the Medicare tax is 1.45. How much payroll tax expense for B.
Rich's December salary will Payless record when it pays these taxes?
A) 2,765
B) 765
C) 3,170.45
D) 1,240
(
Q. 2) An intrusion-detection systems (IDS) logs and monitors who is on or trying to access the network.
Indicate whether the statement is true or false
(
Q. 3) On June 30, 2011, Xanadu Corporation issued 200,000 of 10-year, 8 bonds at 99. The bonds pay interest semi-annually on June 30 and December 31.
How much cash will bondholders receive when the bonds mature? (Assume that the final payment of interest has already been made separately.)
A) 360,000
B) 200,000
C) 216,000
D) 98,000
(
Q. 4) The due date for payroll taxes is not the same date for all employers.
a. True
b. False
Indicate whether the statement is true or false
(
Q. 5) In December 2011, B. Rich worked for Payless, Inc and earned 10,000. Federal income tax withholding is 20. The FICA rate is 6.2 and the Medicare tax is 1.45. How much of B.
Rich's December salary will be included in Salary expense on Payless' income statement for the year ended December 31, 2011?
A) 10,000
B) 7,235
C) 8,000
D) 12,000
(
Q. 6) If a company mistakenly counts less items during a physical inventory than actually exist, how will the error affectthe cost of merchandise sold?
a. understated
b. overstated
c. no change
d. only inventory will be affected
Quick Reply
