Use this information to answer the following question. Baker Company has the following information for the pay period of January 1-15, 2010. Payment occurs on January 20.
$\begin{array}{lrlr}
\text { Gross payroll } & \$ 16,000 & \text { Federal income taxes withheld } & \$ 1,800 \
\text { Social security and Medicare rate } & 7.65 \% & \text { Federal unemployment tax rate } & 8 \% \
\text { State unemployment tax rate } & 5.4 \% & &
\end{array}$ Salaries Payable would be recorded for
A) $12,976.
B) $10,760.
C) $14,200.
D) $11,984.

Question

Quizplus · Accepted Answer

Salaries Payable = Gross payroll - Federal income taxes withheld = $16,000 - $1,800 = $14,200

Use This Information to Answer the Following Question Salaries Payable Would Be Recorded for A) $12,976

Use This Information to Answer the Following Question Salaries Payable Would Be Recorded for
A) $12,976