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CTRW

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$3$ of $24$ Concepts completed

Multiple Choice Question

John Smith works $40$ hours for ABC Corp. for $$15$ per hour. Required payroll deductions are: Social Securly $$3720$; Medicare $$870$; Federal income tax $$58$; and State income tax $$10.$ Assuming that John gets paid in cash and payroll deductions will be paid the following month, how would ABC record his gross pay?

Cash increases $$600.$

Cash decreases $$600.$

Salanes and Wages Payable increases $$600.$

Salaries and Wages Expense increases $$600.$

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