Multiple Choice
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
Correct Answer:
Verified
Correct Answer:
Verified
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