QUESTION 1 of 10: All employers in the U. S. pay "payroll taxes" on behalf of employees. The Medicare portion of this is 1.45% of pay. If an employee makes $480 in a week, how much does the employer contribute for Medicare?
a) $1.45
b) $6.96
c) $69.60
d) $696

During 2016, nike inc., reported net income of $3,760 million. the company declared dividends of $1,022 million. the closing entry for dividends would include which of the following? select one: a. credit cash for $1,022 million b. credit dividends for $1,022 million c. debit net income for $1,022 million d. credit retained earnings for $1,022 million e. debit dividends for $1,022 million