Multiple Choice
In December 2011,Homer Simpson worked for Springfield Power and earned $5,000.Federal income tax withholding is 15%.The FICA rate is 6.2% and the Medicare tax is 1.45%.How much of Homer's December salary will be included in Salary expense on Springfield Power's income statement for the year ended December 31,2011?
A) $5,000
B) $4,250
C) $3,940
D) $3,867.50
Correct Answer:
Verified
Correct Answer:
Verified
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