hosted by ms. appel 100 200 400 300 400 true/false 1true/false 2fill in the blank 1 fill in the...
TRANSCRIPT
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Hosted
by
Ms. Appel
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Row 1, Col 1
The source document for payment of a payroll is the
time card
What is False?
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Row 1, Col 2
Employee withheld income tax, employee Social Security and Medicare tax, and employer
Social Security and Medicare tax are paid periodically to the
federal government in a combined payment.
What is True?
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Row 1, Col 3
List the payroll taxes which employers must pay
What are Soc. Sec. & Medicare, Federal & State Unemployment?
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Row 1, Col 4
Employers are required to furnish each employee with
an annual statement of earnings and withholdings before what date
What is January 31 of the following year?
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Row 2, Col 1
Some employers must deposit payments for withheld employees’
federal income tax and social security and Medicare taxes on the next banking day.
What is True?
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Row 2, Col 2
Employer payroll taxes are business expenses.
What is True?
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Row 2, Col 3
In the entry to journalize paying the liability for the first
quarter federal unemployment tax, the account credited
would be this
What is Cash?
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Row 2, Col 4
The source document for paying state unemployment
tax is this
What is a Check?
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Row 3, Col 1
Employer payroll taxes expense is based on a percentage of
employee earnings.
What is True?
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Row 3, Col 2
The employer social security tax rate is not the same
as the employee social security tax rate.
What is False?
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Row 3, Col 3
When a semimonthly payroll is paid, the credit to cash is
equal to this
What is Net Pay of All Employees?
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Row 3, Col 4
The total of the Federal Income Tax column of a payroll register
is credited to this type of account
What is Liability?
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Row 4, Col 1
An employer is not required to pay federal unemployment
taxes on an employee who has already earned $7,000 during the calendar year.
What is True?
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Row 4, Col 2
All employers must deposit payments for withheld employees’
federal income tax and social security and Medicare
taxes using the Electronic Federal Tax Payments System (EFTPS)
What is False?
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Row 4, Col 3
A federal tax used for state and federal administrative
expenses of the unemployment program is
What is Federal Unemployment Tax?
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Row 4, Col 4
A state tax used to pay benefits to unemployed workers is
What is State Unemployment Tax?
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Row 5, Col 1
Each employer who withholds income tax and social security
and Medicare tax from employee salaries must furnish
each employee with a quarterly statement.
What is False?
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Row 5, Col 2
The transaction to record employer payroll taxes expense
is journalized at the end of the quarter.
What is False?
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Row 5, Col 3
To record the employer payroll taxes expense, the following
accounts are credited: Social Security Tax Payable,
Medicare Tax Payable, and these 2 other accounts.
What are Federal and State Unemployment Tax Payable (2 separate accounts)?
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Row 5, Col 4
In general, employers are required to pay state unemployment
taxes this often
What is during the month following each calendar quarter.?
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If an employee’s accumulated earnings are $6,500, and the employee
earns another $1,500, how much of the employee’s earnings are subject to
unemployment tax for the pay period?