Question 1

Sabrina Duncan had gross earnings for the pay period ending 10/15/16 of $5,785.Her total gross earnings as of 9/30/16 were $111,400.If Social Security taxes are 6.2% on a maximum earnings of $113,700 per year,Sabrina's Social Security withheld from her 10/15/16 paycheck would be:

Accepted Answer

A)   $358.67
B)   $142.60
C)   $216.07
D)   $198.88E) A) and B)
F) None of the above

Question 2

Lisa Ramos has a regular hourly rate of $10.75.In a week when she worked 40 hours and had deductions of $55 for federal income tax,$26.75 for social security tax,and $6.25 for Medicare tax,her net pay was

Accepted Answer

A)   $430.
B)   $342.
C)   $375.
D)   $397.E) C) and D)
F) B) and D)

Question 3

One who is hired by an employer and who is under the control and direction of the employer is called a(n)___________________.

Accepted Answer

The answer of One who is hired by an employer...

Question 4

Federal law requires that the employer withhold _________ from the employee's pay.

Accepted Answer

A)   federal income tax,social security tax,Medicare tax,and FUTA
B)   federal income tax,social security tax,and Medicare tax
C)   federal income tax,social security tax,Medicare tax,and state and local taxes
D)   Federal and state income tax,social security tax,Medicare tax,and FUTAE) B) and C)
F) All of the above

Question 5

The employer records the amount of federal income tax withheld from employees as

Accepted Answer

A)   Income Tax Expense.
B)   Employee Federal Income Tax Payable.
C)   Social Security Tax Expense.
D)   Social Security Tax Payable.E) A) and C)
F) All of the above

Question 6

Ramon Gonzalez's gross pay for the week was $700.He had deductions of $85 for federal income tax,$43.40 for social security tax,$10.15 for Medicare tax as well as $5 for union dues.The journal entry to record his salary would include:

Accepted Answer

A)   a debit to Employee Income Tax Payable for $85
B)   a credit to Employee Income Tax Payable for $85
C)   a debit to Salaries Payable for $700
D)   a debit to Salaries Expense for $556.45E) B) and C)
F) A) and D)

Question 7

Which of the following is a factor in the determination of the amount of social security tax to withhold from an employee's pay?

Accepted Answer

A)   hours worked during the pay period
B)   marital status
C)   withholding allowances claimed on Form W-4
D)   gross wagesE) A) and B)
F) C) and D)

Question 8

When checks are issued to employees after the entry to record the payroll has been made,the accountant would

Accepted Answer

A)   debit Salaries Expense,debit Wages Expense,and credit Cash.
B)   debit Salaries and Wages Payable,debit Social Security Tax Payable,debit Medicare Tax Payable,debit Employee Income Tax Payable,and credit Cash.
C)   debit Salaries and Wages Payable and credit Cash.
D)   debit Salaries and Wages Payable and credit Salaries Expense and Wages Expense.E) C) and D)
F) None of the above

Question 9

For which of the following taxes is there no limit on the amount of annual earnings subject to the tax?

Accepted Answer

A)   Federal unemployment tax
B)   Social Security tax
C)   Federal income tax
D)   State unemployment taxE) B) and C)
F) C) and D)

Question 10

Publication 15,Circular E contains withholding information

Accepted Answer

A)   for social security and Medicare taxes only.
B)   for federal income taxes only.
C)   for social security,Medicare,and federal income tax taxes.
D)   for federal and state income taxes.E) B) and D)
F) A) and C)

Question 11

Which of the following is NOT typically an employee payroll withholding?

Accepted Answer

A)   federal income taxes
B)   state unemployment taxes
C)   union dues
D)   medical insuranceE) All of the above
F) A) and B)

Question 12

Michael Miller had total gross earnings as of 10/15 of $113,000.His gross earnings for the period ending 10/30 were $2,000.If social security taxes are 6.2% on a maximum earnings of $113,700 per year and Medicare tax is 1.45% on all earnings,how much social security tax will be paid by Michael and how much will be paid by his employer for the period ending 10/30?

Accepted Answer

A)   Michael will pay $43.40 and his employer is not required to pay any social security tax.
B)   Michael will pay $43.40 and his employer will also pay $43.40.
C)   Michael will pay $124 and his employer will also pay $124.
D)   Michael will pay $124 and his employer is not required to pay any social security tax.E) B) and D)
F) B) and C)

Question 13

The monthly salaries for December and the year-to-date earnings as of November 30 for the three employees of Heather's Hair Salon are listed below.Compute the amount of social security tax and Medicare tax to be withheld from each of the employee's gross pay for December.Assume a 6.2 percent social security tax rate and a base of $113,700 for the calendar year.Assume a 1.45 percent Medicare tax rate.

Accepted Answer

Employee No.1: Soc.Sec.Tax,$11...

Question 14

All details related to an employee's earnings,deductions,and net pay throughout the year would be found in

Accepted Answer

A)   the payroll register.
B)   the individual earnings record.
C)   the general journal.
D)   the Wages Expense account in the general ledger.E) C) and D)
F) B) and D)

Question 15

The amount debited to Wages Expense when a payroll is recorded is the

Accepted Answer

A)   regular gross earnings.
B)   earnings after taxes.
C)   net earnings.
D)   total gross earnings.E) C) and D)
F) B) and C)

Question 16

Which of the following statements is correct?

Accepted Answer

A)   A company is required to withhold various employee taxes from amounts paid independent contractors.
B)   The accountant who performs the independent audit for a company is an employee of the company.
C)   All employees must be paid at the minimum wage rate set by the Fair Labor Standards Act.
D)   Disability benefits for the worker and the worker's dependents are provided by the Federal Insurance Contributions Act.E) C) and D)
F) B) and D)

Question 17

If an employee works for more than one employer during the year,the social security tax is deducted and matched by only one employer.

Accepted Answer

A) True 
 B)False

Question 18

Employers are required to pay workers' ____________________ insurance that will reimburse employees for losses suffered from job-related injuries.

Accepted Answer

The answer of Employers are required to pay workers' ____________________...

Question 19

The monthly salaries for December and the year-to-date earnings as of November 30 for the three employees of the Lakeview Medical Center are listed below.Compute the amount of social security tax and Medicare tax to be withheld from each of the employee's gross pay for December.Assume a 6.2 percent social security tax rate and a base of $113,700 for the calendar year.Assume a 1.45 percent Medicare tax rate.

Accepted Answer

Employee No.1: Soc.Sec.Tax,$46...

Question 20

Rick O'Shea,the only employee of Hunter Furniture Company,makes $30,000 per year and is paid once a month.For the month of July,his federal income taxes withheld are $180,state income taxes withheld are $37,social security is 6.2%,Medicare tax is 1.45%,State Unemployment Tax is 4%,and Federal Unemployment tax is .8%.What is Rick's net pay for July?

Accepted Answer

A)   $2,500.00
B)   $2,283.00
C)   $2,308.75
D)   $2,091.75E) B) and C)
F) A) and D)

Exam 10: Payroll Computations, Records, and Payment

Correct Answer
verified

Correct Answer
verified
Employee No.1: Soc.Sec.Tax,$46...
View Answer

If an employee works for more than one employer during the year,the social security tax is deducted and matched by only one employer.

Correct Answer
verified

Federal law requires that the employer withhold _________ from the employee's pay.

Correct Answer
verified

Which of the following statements is correct?

Correct Answer
verified

When checks are issued to employees after the entry to record the payroll has been made,the accountant would

Correct Answer
verified

Correct Answer
verified
Employee No.1: Soc.Sec.Tax,$11...
View Answer

For which of the following taxes is there no limit on the amount of annual earnings subject to the tax?

Correct Answer
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Lisa Ramos has a regular hourly rate of $10.75.In a week when she worked 40 hours and had deductions of $55 for federal income tax,$26.75 for social security tax,and $6.25 for Medicare tax,her net pay was

Correct Answer
verified

One who is hired by an employer and who is under the control and direction of the employer is called a(n)___________________.

Correct Answer
verified

Which of the following is a factor in the determination of the amount of social security tax to withhold from an employee's pay?

Correct Answer
verified

Which of the following is NOT typically an employee payroll withholding?

Correct Answer
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All details related to an employee's earnings,deductions,and net pay throughout the year would be found in

Correct Answer
verified

Ramon Gonzalez's gross pay for the week was $700.He had deductions of $85 for federal income tax,$43.40 for social security tax,$10.15 for Medicare tax as well as $5 for union dues.The journal entry to record his salary would include:

Correct Answer
verified

Sabrina Duncan had gross earnings for the pay period ending 10/15/16 of $5,785.Her total gross earnings as of 9/30/16 were $111,400.If Social Security taxes are 6.2% on a maximum earnings of $113,700 per year,Sabrina's Social Security withheld from her 10/15/16 paycheck would be:

Correct Answer
verified

The employer records the amount of federal income tax withheld from employees as

Correct Answer
verified

The amount debited to Wages Expense when a payroll is recorded is the

Correct Answer
verified

Correct Answer
verified

Employers are required to pay workers' ____________________ insurance that will reimburse employees for losses suffered from job-related injuries.

Correct Answer
verified

Publication 15,Circular E contains withholding information

Correct Answer
verified

Exam 10: Payroll Computations, Records, and Payment

Correct AnswerverifiedShow Answer

Correct AnswerverifiedEmployee No.1: Soc.Sec.Tax,$46...View AnswerShow Answer

If an employee works for more than one employer during the year,the social security tax is deducted and matched by only one employer.

Correct AnswerverifiedShow Answer

Federal law requires that the employer withhold _________ from the employee's pay.

Correct AnswerverifiedShow Answer

Which of the following statements is correct?

Correct AnswerverifiedShow Answer

When checks are issued to employees after the entry to record the payroll has been made,the accountant would

Correct AnswerverifiedShow Answer

Correct AnswerverifiedEmployee No.1: Soc.Sec.Tax,$11...View AnswerShow Answer

For which of the following taxes is there no limit on the amount of annual earnings subject to the tax?

Correct AnswerverifiedShow Answer

Lisa Ramos has a regular hourly rate of $10.75.In a week when she worked 40 hours and had deductions of $55 for federal income tax,$26.75 for social security tax,and $6.25 for Medicare tax,her net pay was

Correct AnswerverifiedShow Answer

One who is hired by an employer and who is under the control and direction of the employer is called a(n)___________________.

Correct AnswerverifiedShow Answer

Which of the following is a factor in the determination of the amount of social security tax to withhold from an employee's pay?

Correct AnswerverifiedShow Answer

Which of the following is NOT typically an employee payroll withholding?

Correct AnswerverifiedShow Answer

All details related to an employee's earnings,deductions,and net pay throughout the year would be found in

Correct AnswerverifiedShow Answer

Ramon Gonzalez's gross pay for the week was $700.He had deductions of $85 for federal income tax,$43.40 for social security tax,$10.15 for Medicare tax as well as $5 for union dues.The journal entry to record his salary would include:

Correct AnswerverifiedShow Answer

Sabrina Duncan had gross earnings for the pay period ending 10/15/16 of $5,785.Her total gross earnings as of 9/30/16 were $111,400.If Social Security taxes are 6.2% on a maximum earnings of $113,700 per year,Sabrina's Social Security withheld from her 10/15/16 paycheck would be:

Correct AnswerverifiedShow Answer

The employer records the amount of federal income tax withheld from employees as

Correct AnswerverifiedShow Answer

The amount debited to Wages Expense when a payroll is recorded is the

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Employers are required to pay workers' ____________________ insurance that will reimburse employees for losses suffered from job-related injuries.

Correct AnswerverifiedShow Answer

Publication 15,Circular E contains withholding information

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified
Employee No.1: Soc.Sec.Tax,$46...
View Answer

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
verified

Correct Answer
verified
Employee No.1: Soc.Sec.Tax,$11...
View Answer

Correct Answer
verified

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