Larry, an employee of Ramsay's, Inc, has gross salary for March of $4,000
The entire amount is under the OASDI limit of $117,000 and thus subject to FICA. He is also subject to federal income tax at a rate of 18%. Larry has a deduction of $320 for health insurance and $80 for United Way. Which of the following is included in the entry to record the liability of payroll withholding deductions?
A) debit to Salaries Payable
B) credit to United Way Payable
C) debit to FICA Taxes Payable
D) debit to Cash
B
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The court-appointed guardian is the only person who has the legal authority to enter into contracts on behalf of a person who has been adjudged insane
Indicate whether the statement is true or false
Which of the following is one of the areas in which controls are assessed by auditors using the COSO framework?
A) Risk Assessment B) monitoring C) Control Environment. D) all of the above