Question : 91. Most employers required to withhold from employees which of the : 1233964

 

91. Most employers are required to withhold from employees which of the following employment taxes? 
A. FICA tax
B. FICA tax, state and federal unemployment compensation tax
C. only state unemployment compensation tax
D. only federal unemployment compensation tax

92. An employee receives an hourly rate of $25, with time and a half for all hours worked in excess of 40 during a week. Payroll data for the current week are as follows: hours worked, 46; federal income tax withheld, $350; cumulative earnings for year prior to current week, $99,700; social security tax rate, 6.0% on maximum of $100,000; and Medicare tax rate, 1.5% on all earnings. What is the gross pay for the employee? 
A. $775.00
B. $752.50
C. $1,225.00
D. $1,102.50

93. An employee receives an hourly rate of $25, with time and a half for all hours worked in excess of 40 during a week. Payroll data for the current week are as follows: hours worked, 46 federal income tax withheld, $350; cumulative earnings for year prior to current week, $99,700; social security tax rate, 6.0% on maximum of $100,000; and Medicare tax rate, 1.5% on all earnings. What is the net amount to be paid the employee? 
A. $875.00
B. $838.62
C. $857.00
D. $1133.14

94. Prior to the last weekly payroll period of the calendar year, the cumulative earnings of employees A and B are $99,350 and $91,000 respectively. Their earnings for the last completed payroll period of the year are $850 each. The amount of earnings subject to social security tax at 6% is $100,000. All earnings are subject to Medicare tax of 1.5%. Assuming that the payroll will be paid on December 29, what will be the employer’s total FICA tax for this payroll period on the two salary amounts of $850 each? 
A. $127.50
B. $115.50
C. $112.50
D. $0

95. The total earnings of an employee for a payroll period is referred to as 
A. take-home pay
B. pay net of taxes
C. net pay
D. gross pay

96. An employee receives an hourly rate of $30, with time and a half for all hours worked in excess of 40 during a week. Payroll data for the current week are as follows: hours worked, 46; federal income tax withheld, $300; cumulative earnings for year prior to current week, $90,700; social security tax rate, 6.0% on maximum of $100,000; and Medicare tax rate, 1.5% on all earnings. What is the net amount to be paid the employee? 
A. $1,470
B. $1,059.75
C. $1,381.80
D. $1,249.50

97. Payroll taxes levied against employees become liabilities 
A. the first of the following month
B. at the time the payroll is paid
C. when earned by the employee
D. at the end of an accounting period

98. The following totals for the month of June were taken from the payroll register of ABC Company:
 

Salaries expense$13,000

Social security and Medicare Taxes withheld975

Income Taxes withheld2,600

Retirement Savings500

The entry to record the payment of net pay would include a 
A. debit to Salaries Payable for $13,000
B. Debit to Salaries Payable for $8,925
C. Credit to Salaries Expense for $8,925
D. Credit to Salaries Payable for $8,925

99. Which of the following will have no effect on an employee’s take-home pay? 
A. Social security tax
B. Unemployment tax
C. Marital status
D. Number of exemptions claimed

100. Which of the following are included in the employer’s payroll taxes? 
A. SUTA taxes
B. FUTA taxes
C. FICA taxes
D. all of the above

 

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