Question 1

The CPP premium rate will be the same every year.

Accepted Answer

A) True 
 B)False

Question 2

If a company pays out a bonus at year end, no income tax is deducted from it.

Accepted Answer

A) True 
 B)False

Question 3

What type of account is CPP Payable?

Accepted Answer

A)  Asset 
B)  Liability 
C)  Revenue 
D)  Expense 
A)  Asset 
B)  Liability 
C)  Revenue 
D)  Expense

Question 4

Appealing Apparel Company pays its sales employees an hourly rate, plus time and a half for any hours over 35 per week. Complete the calculation of gross pay for the following three persons the week below:
                    Hourly Rate       Hours Worked       Gross Pay               April Jenkins       $17       44                      Tim Hansman       $18       36                      Penny Leung       $19       20

Accepted Answer

Hourly Rate Hours Worked Gross

Question 5

Blue's Tax Service has two types of employees, management and clerical support. The company estimates that it will pay the clerical support $240,000 next year and the managers $315,000. For every $100, the company pays $0.14 into the workers' compensation insurance. Calculate the amount of worker's compensation insurance.

Accepted Answer

A)  $777 
B)  $336 
C)  $441 
D)  None of the above are correct. 
A)  $777 
B)  $336 
C)  $441 
D)  None of the above are correct.

Question 6

The use of a payroll register to record a company's payroll is optional.

Accepted Answer

A) True 
 B)False

Question 7

Why are more companies using software programs to complete their payroll?

Accepted Answer

The software programs provide fewer chan

Question 8

The T4 is issued by the employee on leaving an employer.

Accepted Answer

A) True 
 B)False

Question 9

The Office Salaries Expense account would be used to record

Accepted Answer

A)  net earnings for the office workers. 
B)  a credit for the amount owed to the office workers. 
C)  gross earnings for the office workers. 
D)  a debit for the amount of net pay owed to the office workers. 
A)  net earnings for the office workers. 
B)  a credit for the amount owed to the office workers. 
C)  gross earnings for the office workers. 
D)  a debit for the amount of net pay owed to the office workers.

Question 10

All provinces use the same percent for their income tax rate.

Accepted Answer

A) True 
 B)False

Question 11

The amount of CPP to be deducted from an employee with earnings this week of $800 and cumulative earnings for the year before this week of $54,900 would be

Accepted Answer

A)  $10.63. 
B)  $36.22. 
C)  $0.00. 
D)  $106.46. 
A)  $10.63. 
B)  $36.22. 
C)  $0.00. 
D)  $106.46.

Question 12

The employer is responsible for verifying the claims made by employees on TD1 Forms.

Accepted Answer

A) True 
 B)False

Question 13

Payroll periods can be

Accepted Answer

A)  26 pay periods/year. 
B)  12 pay periods/year. 
C)  52 pay periods/year. 
D)  All of the above are correct. 
A)  26 pay periods/year. 
B)  12 pay periods/year. 
C)  52 pay periods/year. 
D)  All of the above are correct.

Question 14

The CPP premium rate is currently 1.88% of gross earnings.

Accepted Answer

A) True 
 B)False

Question 15

Net pay is equal to gross pay less deductions.

Accepted Answer

A) True 
 B)False

Question 16

The T4 is issued by the employer on the leaving of an employee.

Accepted Answer

A) True 
 B)False

Question 17

Explain what is meant by the cumulative gross earnings.

Accepted Answer

Cumulative earnings represent

Question 18

Net pay equals

Accepted Answer

A)  gross pay less all deductions. 
B)  regular earnings + overtime earnings. 
C)  regular earnings. 
D)  net earnings + overtime earnings greater than the amount withheld from the employee. 
A)  gross pay less all deductions. 
B)  regular earnings + overtime earnings. 
C)  regular earnings. 
D)  net earnings + overtime earnings greater than the amount withheld from the employee.

Question 19

A summary record of each person's earnings, deductions, and net pay is called a(n)

Accepted Answer

A)  payroll register. 
B)  T-4. 
C)  employee individual earnings record. 
D)  general journal. 
A)  payroll register. 
B)  T-4. 
C)  employee individual earnings record. 
D)  general journal.

Question 20

Workers' compensation

Accepted Answer

A)  insures employees against losses they may incur due to injury or death while on the job. 
B)  is based on the total estimated payroll. 
C)  is paid for by the employer. 
D)  All of the above are correct. 
A)  insures employees against losses they may incur due to injury or death while on the job. 
B)  is based on the total estimated payroll. 
C)  is paid for by the employer. 
D)  All of the above are correct.

The CPP premium rate will be the same every year.

If a company pays out a bonus at year end, no income tax is deducted from it.

What type of account is CPP Payable?

The use of a payroll register to record a company's payroll is optional.

Why are more companies using software programs to complete their payroll?

The T4 is issued by the employee on leaving an employer.

The Office Salaries Expense account would be used to record

All provinces use the same percent for their income tax rate.

The amount of CPP to be deducted from an employee with earnings this week of $800 and cumulative earnings for the year before this week of $54,900 would be

The employer is responsible for verifying the claims made by employees on TD1 Forms.

Payroll periods can be

The CPP premium rate is currently 1.88% of gross earnings.

Net pay is equal to gross pay less deductions.

The T4 is issued by the employer on the leaving of an employee.

Explain what is meant by the cumulative gross earnings.

Net pay equals

A summary record of each person's earnings, deductions, and net pay is called a(n)

Workers' compensation

Accounting Concepts and Procedures: an Introduction

Debits and Credits: Analyzing and Recording Business Transactions

Beginning the Accounting Cycle: Journalizing, Posting, and the Trial Balance

The Accounting Cycle Continued: Preparing Worksheets and Financial Statements

The Accounting Cycle Completed: Closing and Post-Closing Trial Balance

Special Journals and Subsidiary Ledgers: the Basics: Sales and Cash

Special Journals and Subsidiary Ledgers: the Basics: Purchases and Cash Payments Journals

Banking Procedures and Control of Cash

The Employers Tax Responsibilities: Principles and Procedures

Special Journals With Taxes

Preparing a Worksheet for a Merchandising Company

Completion of the Accounting Cycle for a Merchandising Company

Filters

	Hourly Rate	Hours Worked	Gross Pay
April Jenkins	$17	44
Tim Hansman	$18	36
Penny Leung	$19	20

Exam 9: Payroll Procedures: the Employees Perspective

The CPP premium rate will be the same every year.

If a company pays out a bonus at year end, no income tax is deducted from it.

What type of account is CPP Payable?

Appealing Apparel Company pays its sales employees an hourly rate, plus time and a half for any hours over 35 per week. Complete the calculation of gross pay for the following three persons the week below: Hourly Rate Hours Worked Gross Pay April Jenkins $17 44 Tim Hansman $18 36 Penny Leung $19 20

The use of a payroll register to record a company's payroll is optional.

Why are more companies using software programs to complete their payroll?

The T4 is issued by the employee on leaving an employer.

The Office Salaries Expense account would be used to record

All provinces use the same percent for their income tax rate.

The amount of CPP to be deducted from an employee with earnings this week of $800 and cumulative earnings for the year before this week of $54,900 would be

The employer is responsible for verifying the claims made by employees on TD1 Forms.

Payroll periods can be

The CPP premium rate is currently 1.88% of gross earnings.

Net pay is equal to gross pay less deductions.

The T4 is issued by the employer on the leaving of an employee.

Explain what is meant by the cumulative gross earnings.

Net pay equals

A summary record of each person's earnings, deductions, and net pay is called a(n)

Workers' compensation

Accounting Concepts and Procedures: an Introduction

Debits and Credits: Analyzing and Recording Business Transactions

Beginning the Accounting Cycle: Journalizing, Posting, and the Trial Balance

The Accounting Cycle Continued: Preparing Worksheets and Financial Statements

The Accounting Cycle Completed: Closing and Post-Closing Trial Balance

Special Journals and Subsidiary Ledgers: the Basics: Sales and Cash

Special Journals and Subsidiary Ledgers: the Basics: Purchases and Cash Payments Journals

Banking Procedures and Control of Cash

The Employers Tax Responsibilities: Principles and Procedures

Special Journals With Taxes

Preparing a Worksheet for a Merchandising Company

Completion of the Accounting Cycle for a Merchandising Company

Filters