Matching
Match the items below
Premises:
Levied against employees' wages without limit.
An obligation in the form of a written promissory note.
An agreement whereby an employer provides benefits to employees after they retire.
A payroll tax expense levied only against the employer based on employees' wages.
A measure of a company’s liquidity.
A debt than can reasonably be expected to be paid from current assets.
A form showing gross earnings, FICA taxes withheld, and income taxes withheld.
Levied against employees' wages with a maximum limit.
Payments by employers to retired employees.
A potential liability that may become an actual liability in the future.
Responses:
Current liability
Notes payable
Wage and Tax Statement
Current ratio
Contingent liability
Federal income taxes
FICA taxes
Federal unemployment taxes
Post-retirement benefits
Pension plan
Correct Answer:
Premises:
Responses:
Levied against employees' wages without limit.
An obligation in the form of a written promissory note.
An agreement whereby an employer provides benefits to employees after they retire.
A payroll tax expense levied only against the employer based on employees' wages.
A measure of a company’s liquidity.
A debt than can reasonably be expected to be paid from current assets.
A form showing gross earnings, FICA taxes withheld, and income taxes withheld.
Levied against employees' wages with a maximum limit.
Payments by employers to retired employees.
A potential liability that may become an actual liability in the future.
Premises:
Levied against employees' wages without limit.
An obligation in the form of a written promissory note.
An agreement whereby an employer provides benefits to employees after they retire.
A payroll tax expense levied only against the employer based on employees' wages.
A measure of a company’s liquidity.
A debt than can reasonably be expected to be paid from current assets.
A form showing gross earnings, FICA taxes withheld, and income taxes withheld.
Levied against employees' wages with a maximum limit.
Payments by employers to retired employees.
A potential liability that may become an actual liability in the future.
Responses:
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