Multiple Choice
In December 2010,Bob Cratchit worked for Scrooge & Marley and earned $1,000.Federal income tax withholding is 10%.The FICA rate is 6.2% and the Medicare tax is 1.45%.How much of Bob's December salary will be included in Salary expense on Scrooge & Marley's income statement for the year ended December 31,2010?
A) $1,000
B) $823.50
C) $900
D) $923.50
Correct Answer:
Verified
Correct Answer:
Verified
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