Question 1

Base and rate changes in payroll taxes such as FICA affect the accounting principles and procedures for payroll.

Accepted Answer

A) True 
 B)False

Question 2

Match the terms with the definitions.
-The employee does not handle the paycheck; payment is made by the employer directly to the employee's bank.

Accepted Answer

A) direct deposit 
B) electronic system 
C) employee 
D) employee earnings record 
E) Fair Labor Standards Act (FLS
A) 
F)FICA taxes
G)gross pay
H)independent contractor
I)manual system
J)net pay
K)payroll processing center
L)payroll register
M)salary
N)wage-bracket method
O)wages
P)withhol ding allowance 
A) direct deposit 
B) electronic system 
C) employee 
D) employee earnings record 
E) Fair Labor Standards Act (FLS
A) 
F)FICA taxes
G)gross pay
H)independent contractor
I)manual system
J)net pay
K)payroll processing center
L)payroll register
M)salary
N)wage-bracket method
O)wages
P)withhol ding allowance

Question 3

Employers usually prepare which of the following types of payroll records?

Accepted Answer

A)  payroll register,employee earnings record,and payroll check 
B)  payroll register,payroll ledger,and employee earnings record 
C)  payroll journal,employee earning record,and payroll ledger 
D)  employee earning record,payroll check,and payroll ledger 
A)  payroll register,employee earnings record,and payroll check 
B)  payroll register,payroll ledger,and employee earnings record 
C)  payroll journal,employee earning record,and payroll ledger 
D)  employee earning record,payroll check,and payroll ledger

Question 4

Match the terms with the definitions.
-Someone who performs a service for a fee and does not work under the control and direction of the company paying for the service.

Accepted Answer

A) direct deposit 
B) electronic system 
C) employee 
D) employee earnings record 
E) Fair Labor Standards Act (FLS
A) 
F)FICA taxes
G)gross pay
H)independent contractor
I)manual system
J)net pay
K)payroll processing center
L)payroll register
M)salary
N)wage-bracket method
O)wages
P)withhol ding allowance 
A) direct deposit 
B) electronic system 
C) employee 
D) employee earnings record 
E) Fair Labor Standards Act (FLS
A) 
F)FICA taxes
G)gross pay
H)independent contractor
I)manual system
J)net pay
K)payroll processing center
L)payroll register
M)salary
N)wage-bracket method
O)wages
P)withhol ding allowance

Question 5

____________________ are compensation for skilled or unskilled labor.

Accepted Answer

The answer of ____________________ are compensation for skilled or unskilled...

Question 6

Compensation expressed in terms of hours,weeks,or units produced for skilled or unskilled labor is usually referred to as salary.

Accepted Answer

A) True 
 B)False

Question 7

Deductions for U.S.savings bond purchases,pension plan payments,and Social Security taxes are considered voluntary deductions.

Accepted Answer

A) True 
 B)False

Question 8

Each employee is required to furnish the employer with which of the following forms?

Accepted Answer

A)  W-2 
B)  941 
C)  W-4 
D)  1040 
A)  W-2 
B)  941 
C)  W-4 
D)  1040

Question 9

FICA taxes include amounts for both Social Security but not Medicare programs.

Accepted Answer

A) True 
 B)False

Question 10

Under federal law,employers are required to withhold a percentage of the employees' wages for pensions.

Accepted Answer

A) True 
 B)False

Question 11

Tracing the employee's gross pay for a specific time period into the appropriate wage-bracket table provided by the Internal Revenue Service is called using the wage-bracket method to determine the amount of tax to be withheld from an employee's pay.

Accepted Answer

A) True 
 B)False

Question 12

An employee's total earnings are also known as ____________________.

Accepted Answer

The answer of An employee's total earnings are also known...

Question 13

The payroll register for the week ended May 28 for J & D United indicates gross earnings of $4,000 and total deductions of $1,200.The total of all the credit entries for the payroll for the week ending May 28 would be

Accepted Answer

A)  $1,200. 
B)  $2,800. 
C)  $4,000. 
D)  $5,200. 
A)  $1,200. 
B)  $2,800. 
C)  $4,000. 
D)  $5,200.

Question 14

The form used to assemble the data required at the end of each payroll period is the ____________________.

Accepted Answer

The answer of The form used to assemble the data...

Question 15

Whether the wage-bracket method or some other method is used in computing the amount of tax to be withheld,the sum of the taxes withheld from an employee's wages is only an approximation of what the employee's actual taxes will be for the year.

Accepted Answer

A) True 
 B)False

Question 16

Joel Trump is paid one and one-half times the regular hourly rate for all hours worked in excess of 40 hours per week and double time for work on Sunday.Trump's regular rate is $8 per hour.During the week ended October 10,he worked 9 hours each day from Monday through Friday,6 hours on Saturday,and 4 hours on Sunday.Trump's total earnings for the week ended October 10 are

Accepted Answer

A)  $110. 
B)  $320. 
C)  $430. 
D)  $516. 
A)  $110. 
B)  $320. 
C)  $430. 
D)  $516.

Question 17

Jerri's Mason Supply Company has four employees who are paid on a weekly basis receiving time and a half for working more than 40 hours in any one week.The payroll data for the week ended December 10 is as follows:
?
 $$\begin{array} { l c c c c c c } 
&&&&&&\text { Federal }\
&\text { \# of } & \text { Marital }&\text { Total }&& \text {  Cumulative }&\text{Income}\ 
 \underline{\text {Name}}& \underline{\text { Allowances }}& \underline{\text {Status}}&  \underline{\text {Hours }}& \underline{\text {Rate }}& \underline{\text {Earnings }}& \underline{\text {Tax}}\
\text { B. Russo }& 0 & \mathrm {~S} & 44 & \$ 8.00 & \$ 8,300 &\$40 \
\text { P. Higgins }  & 1 & \mathrm { M } & 46 & 28.00 & 52,176 & 160 \
\text { S. Minsky } & 2 & \mathrm { M } & 40 & 9.00 & 18,560 & 8 \
\text { A. Mendez }& 4 & \mathrm { M } & 40 & 34.00 & 86,000 & 129\
\end{array}$$ Social Security tax is withheld at 6.2% and Medicare tax at 1.45%.Each employee that is single has $40 withheld for health insurance and each that is married has $70 withheld.Higgins has $25 withheld for United Way.Number the checks beginning with 803.
Required:
1.Complete the payroll register.
2.Journalize the payroll entry.
?
?
   ?
   ?

Accepted Answer

? 11ea84ea_4

Question 18

Match the terms with the definitions.
- Exempts a specific dollar amount of an employee's gross pay from federal income tax withholding.

Accepted Answer

A) direct deposit 
B) electronic system 
C) employee 
D) employee earnings record 
E) Fair Labor Standards Act (FLS
A) 
F)FICA taxes
G)gross pay
H)independent contractor
I)manual system
J)net pay
K)payroll processing center
L)payroll register
M)salary
N)wage-bracket method
O)wages
P)withhol ding allowance 
A) direct deposit 
B) electronic system 
C) employee 
D) employee earnings record 
E) Fair Labor Standards Act (FLS
A) 
F)FICA taxes
G)gross pay
H)independent contractor
I)manual system
J)net pay
K)payroll processing center
L)payroll register
M)salary
N)wage-bracket method
O)wages
P)withhol ding allowance

Question 19

Match the terms with the definitions.
- Compensation for managerial or administrative services.

Accepted Answer

A) direct deposit 
B) electronic system 
C) employee 
D) employee earnings record 
E) Fair Labor Standards Act (FLS
A) 
F)FICA taxes
G)gross pay
H)independent contractor
I)manual system
J)net pay
K)payroll processing center
L)payroll register
M)salary
N)wage-bracket method
O)wages
P)withhol ding allowance 
A) direct deposit 
B) electronic system 
C) employee 
D) employee earnings record 
E) Fair Labor Standards Act (FLS
A) 
F)FICA taxes
G)gross pay
H)independent contractor
I)manual system
J)net pay
K)payroll processing center
L)payroll register
M)salary
N)wage-bracket method
O)wages
P)withhol ding allowance

Question 20

The account,____________________,should be credited for the total income tax withheld from an employee's earnings.

Accepted Answer

Employee I

Base and rate changes in payroll taxes such as FICA affect the accounting principles and procedures for payroll.

Match the terms with the definitions. -The employee does not handle the paycheck; payment is made by the employer directly to the employee's bank.

Employers usually prepare which of the following types of payroll records?

Match the terms with the definitions. -Someone who performs a service for a fee and does not work under the control and direction of the company paying for the service.

____________________ are compensation for skilled or unskilled labor.

Compensation expressed in terms of hours,weeks,or units produced for skilled or unskilled labor is usually referred to as salary.

Deductions for U.S.savings bond purchases,pension plan payments,and Social Security taxes are considered voluntary deductions.

Each employee is required to furnish the employer with which of the following forms?

FICA taxes include amounts for both Social Security but not Medicare programs.

Under federal law,employers are required to withhold a percentage of the employees' wages for pensions.

Tracing the employee's gross pay for a specific time period into the appropriate wage-bracket table provided by the Internal Revenue Service is called using the wage-bracket method to determine the amount of tax to be withheld from an employee's pay.

An employee's total earnings are also known as ____________________.

The payroll register for the week ended May 28 for J & D United indicates gross earnings of $4,000 and total deductions of $1,200.The total of all the credit entries for the payroll for the week ending May 28 would be

The form used to assemble the data required at the end of each payroll period is the ____________________.

Whether the wage-bracket method or some other method is used in computing the amount of tax to be withheld,the sum of the taxes withheld from an employee's wages is only an approximation of what the employee's actual taxes will be for the year.

Match the terms with the definitions. - Exempts a specific dollar amount of an employee's gross pay from federal income tax withholding.

Match the terms with the definitions. - Compensation for managerial or administrative services.

The account,____________________,should be credited for the total income tax withheld from an employee's earnings.

Introduction to Accounting

Analyzing Transactions: the Accounting Equation

The Double-Entry Framework

Journalizing and Posting Transactions

Adjusting Entries and the Work Sheet

Financial Statements and the Closing Process

Accounting for Cash

Payroll Accounting: Employer Taxes and Reports

Module Accounting For A Professional Service Business The Combination Journal

Filters

Exam 8: Payroll Accounting: Employee Earnings and Deductions

Base and rate changes in payroll taxes such as FICA affect the accounting principles and procedures for payroll.

Match the terms with the definitions. -The employee does not handle the paycheck; payment is made by the employer directly to the employee's bank.

Employers usually prepare which of the following types of payroll records?

Match the terms with the definitions. -Someone who performs a service for a fee and does not work under the control and direction of the company paying for the service.

____________________ are compensation for skilled or unskilled labor.

Compensation expressed in terms of hours,weeks,or units produced for skilled or unskilled labor is usually referred to as salary.

Deductions for U.S.savings bond purchases,pension plan payments,and Social Security taxes are considered voluntary deductions.

Each employee is required to furnish the employer with which of the following forms?

FICA taxes include amounts for both Social Security but not Medicare programs.

Under federal law,employers are required to withhold a percentage of the employees' wages for pensions.

Tracing the employee's gross pay for a specific time period into the appropriate wage-bracket table provided by the Internal Revenue Service is called using the wage-bracket method to determine the amount of tax to be withheld from an employee's pay.

An employee's total earnings are also known as ____________________.

The payroll register for the week ended May 28 for J & D United indicates gross earnings of $4,000 and total deductions of $1,200.The total of all the credit entries for the payroll for the week ending May 28 would be

The form used to assemble the data required at the end of each payroll period is the ____________________.

Whether the wage-bracket method or some other method is used in computing the amount of tax to be withheld,the sum of the taxes withheld from an employee's wages is only an approximation of what the employee's actual taxes will be for the year.

Match the terms with the definitions. - Exempts a specific dollar amount of an employee's gross pay from federal income tax withholding.

Match the terms with the definitions. - Compensation for managerial or administrative services.

The account,____________________,should be credited for the total income tax withheld from an employee's earnings.

Introduction to Accounting

Analyzing Transactions: the Accounting Equation

The Double-Entry Framework

Journalizing and Posting Transactions

Adjusting Entries and the Work Sheet

Financial Statements and the Closing Process

Accounting for Cash

Payroll Accounting: Employer Taxes and Reports

Module Accounting For A Professional Service Business The Combination Journal

Filters