Question : 101. An employer’s federal unemployment taxes (FUTA) reported: A. AnnuallyB. SemiannuallyC. QuarterlyD. MonthlyE. Weekly : 1256976

 

 

101. An employer’s federal unemployment taxes (FUTA) are reported: A. AnnuallyB. SemiannuallyC. QuarterlyD. MonthlyE. Weekly

 

 

102. An employee earnings report: A. Is the W-2.B. Is the W-4.C. Is the cumulative record of an employee’s hours worked, gross earnings, deductions, and net pay.D. Shows the pay period dates, hours worked, gross pay, deductions, and net pay of each employee for every pay period.E. Is used to compute the federal income taxes withheld from each employee’s gross pay.

 

 

103. The main purpose of the wage bracket withholding table is to: A. Compute social security withholding.B. Compute Medicare withholding.C. Compute federal income tax withholding.D. Prepare the W-4.E. Compute gross earnings.

 

 

104. A table that shows the amount of federal income tax to be withheld from an employee’s pay is the: A. Form 941.B. Tax table.C. Wage bracket withholding table.D. W-2.E. W-4.

 

 

105. A special bank account used solely for the purpose of paying employees is created by depositing the amount of each employees’ net pay into the account every pay period. This account is referred to as a(n): A. Federal depository bank account.B. Employee’s individual earnings account.C. Employees’ bank account.D. Payroll register account.E. Payroll bank account.

 

 

106. If a company uses a special payroll bank account: A. The company does not need to issue paychecks.B. The company draws one check for the entire payroll on the regular bank account and deposits it in the payroll bank account.C. The company must use a federal depository bank for the payroll.D. There is no need for a payroll register.E. There is no need to issue W-2’s.

 

 

107. For the year ended December 31, 2013, Mason Company has implemented an employee bonus program equal to 7% of Mason’s net income, which employees will share equally. Mason’s net income (pre-bonus) is expected to be $3,500,000, and bonus expense is deducted in computing net income. What is the amount that needs to be recorded for estimated bonus liability for 2013?

A. $245,000B. $144,118C. $228,972D. $50,000E. $125,000

 

 

108. Mission Company has three employees:

 

Gross Pay through July

Gross Pay for August

Smith

$3,200

$1,000

Cain

25,800

3,500

Clark

94,600

13,100

 

 

The company is subject to the following taxes:

 

 

Tax

Rate

Applied To

FICA—Social Security

6.20 %

 

First $106,800

FICA—Medicare

1.45

 

All gross pay

FUTA

.80

 

First $7,000

SUTA

5.40

 

First $7,000

 

What are Mission Company’s total August payroll taxes for Smith?

A. $ 62.00B. $138.50C. $443.20D. $581.70E. $76.50

 

 

 

109. Mission Company has three employees:

 

Gross Pay through July

Gross Pay for August

Smith

$3,200

$1,000

Cain

25,800

3,500

Clark

94,600

13,100

 

 

The company is subject to the following taxes:

 

 

Tax

Rate

Applied to

FICA—Social Security

6.20 %

 

First $106,800

FICA—Medicare

1.45

 

All gross pay

FUTA

.80

 

First $7,000

SUTA

5.40

 

First $7,000

 

What are Mission Company’s total August payroll taxes for Cain?

A. $ 1,705.95B. $1,973.70C. $2,241.45D. $267.75E. $484.75

 

 

110. Mission Company has three employees:

 

Gross Pay through July

Gross Pay for August

Smith

$3,200

$1,000

Cain

25,800

3,500

Clark

94,600

13,100

 

 

The company is subject to the following taxes:

 

 

Tax

Rate

Applied to

FICA—Social Security

6.20 %

 

First $106,800

FICA—Medicare

1.45

 

All gross pay

FUTA

.80

 

First $7,000

SUTA

5.40

 

First $7,000

 

What are Mission Company’s total August payroll taxes for Clark?

A. $ 946.35B. $1,002.15C. $1,814.35D. $6,234.75E. $812.20

 

 

 

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more