Exam 8: Payroll Accounting: Employee Earnings and Deductions

Jillian Diaz receives a regular salary of $1,500 a month and is entitled to overtime pay at the rate of one and one-half times the regular hourly rate for any time worked in excess of 40 hours per week.Diaz's overtime pay rate is

The account that should be credited for the total income tax withheld from employee's earnings is

The Fair Labor Standards Act provides which of the following minimum rates to be paid to employees for all hours worked over 40 hours per week?

Sandra Wilson 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.Wilson's regular rate is $12 per hour.During the week ended July 3,she worked 9 hours each day from Monday through Friday,6 hours on Saturday,and 4 hours on Sunday.Wilson's overtime earnings for the week ended July 3 are

Compensation normally expressed in biweekly,monthly,or annual terms for managerial or administrative services is called

A multi-column form used to assemble,compute,and summarize data for all employees at the end of the payroll period is a(n)

The account that is credited with amounts withheld from an employee's earnings for any pension plan contribution is

Separate accounts are kept for each type of earnings deduction.

An electronic payroll system is one in which data is processed using computers equipped with payroll software.

Match the terms with the definitions. -Someone who works under the control and direction of an employer.

Both manual and electronic payroll systems require the same payroll input and output.

The act that requires most employers to withhold certain amounts from employees' earnings for contributions to the Social Security and Medicare programs is called the

Plastic cards or badges encoded with basic employee data are now being used in computer-based time keeping systems.

Payroll expenditures represent a relatively small part of the total expenditures of most companies.

Match the terms with the definitions. -A computer system based on a software package that performs all payroll record keeping and prepares payroll checks.

The payroll register for the week ended April 15 for Ultimate Tanning Spa indicates gross earnings of $4,000 and total deductions of $1,200.The journal entry for the payroll for this week would include which of the following credit amounts to Cash?

Examples of employees include all of the following EXCEPT

An amount of an employee's gross pay which is exempt from federal income tax withholding is a(n)

Compensation for managerial or administrative services usually is expressed in biweekly,monthly,or annual terms and is called wages.

Compensation for managerial or administrative services is called ____________________.