Question :
101. The employee earnings record would contain which column that the : 1239248
101. The employee earnings record would contain which column that the payroll register would probably not contain? A. deductionsB. paymentC. earningsD. cumulative earnings
102. The detailed record indicating the data for each employee for each payroll period and the cumulative total earnings for each employee is called the A. payroll registerB. payroll checkC. employee’s earnings recordD. employer’s earnings record
103. An employee receives an hourly rate of $15, with time and a half for all hours worked in excess of 40 during the week. Payroll data for the current week are as follows: hours worked, 48; federal income tax withheld, $120; cumulative earnings for the year prior to this week, $24,500; Social security tax rate, 6% on maximum of $100,000; and Medicare tax rate, 1.5% on all earnings; state unemployment compensation tax, 3.4% on the first $7,000; federal unemployment compensation tax, .8% on the first $7,000. What is the net amount to be paid to the employee? A. $568.74B. $601.50C. $660.00D. $574.90
104. Use the following information to answer the following questions.The following totals for the month of April were taken from the payroll register of Magnum Company.
Salaries
$12,000
FICA taxes withheld
900
Income taxes withheld
2,500
Medical insurance deductions
450
Federal Unemployment Taxes
32
State Unemployment Taxes
216
The journal entry to record the monthly payroll on April 30 would include a A. credit to Salaries Payable for $8,150B. debit to Salaries Expense for $7,902C. debit to Salaries Payable for $8,150D. debit to Salaries Payable for $7,902
105. Use the following information to answer the following questions.The following totals for the month of April were taken from the payroll register of Magnum Company.
Salaries
$12,000
FICA taxes withheld
900
Income taxes withheld
2,500
Medical insurance deductions
450
Federal Unemployment Taxes
32
State Unemployment Taxes
216
The entry to record accrual of employer’s payroll taxes would include a A. debit to Payroll Tax Expense for $248B. debit to FICA Taxes Payable for $1,800C. credit to Payroll Tax Expense for $248D. debit to Payroll Tax Expense for $1,148
106. The following totals for the month of April were taken from the payroll register of Magnum Company.
Salaries
$10,000
FICA taxes withheld
750
Income taxes withheld
2,000
Medical insurance deductions
450
Unemployment Taxes
420
The entry to record accrual of employer’s payroll taxes would include a A. debit to Payroll Tax Expense for $1,170B. debit to FICA Taxes Payable for $1,500C. credit to Payroll Tax Expense for $420D. debit to Payroll Tax Expense for $1,620
107. An employee receives an hourly rate of $15, with time and a half for all hours worked in excess of 40 during the week. Payroll data for the current week are as follows: hours worked, 46; federal income tax withheld, $110; cumulative earnings for the year prior to this week, $24,500; Social security tax rate, 6% on maximum of $100,000; and Medicare tax rate, 1.5% on all earnings; state unemployment compensation tax, 3.4% on the first $7,000; federal unemployment compensation tax, .8% on the first $7,000. What is the net amount to be paid to the employee? A. $569.87B. $539.00C. $625.00D. $544.88
108. The following totals for the month of June were taken from the payroll register of Young Company:
Salaries expense
$15,000
Social security and Medicare Taxes withheld
1,125
Income Taxes withheld
3,000
Retirement Savings
500
Salaries subject to federal and state
unemployment taxes of 6.2 percent
4,000
The entry to record the accrual of employer’s payroll taxes would include a A. debit to Payroll Taxes Expense for $2,498B. debit to Social Security and Medicare Tax Payable for $2,250C. debit to Payroll Taxes Expense for $1,373D. Debit to Payroll Tax Expense for $1,125
109. Use the following information to answer the following questions.Assuming no employees are subject to ceilings for their earnings, Jensen Company has the following information for the pay period of January 15 – 31, 20xx.
Gross payroll
$10,000
Federal income tax withheld
$1,800
Social security rate
6%
Federal unemployment tax rate
.8%
Medicare rate
1.5%
State unemployment tax rate
5.4%
Salaries Payable would be recorded in the amount of: A. $8,200B. $6,830C. $8,630D. $7,450
110. Use the following information to answer the following questions.Assuming no employees are subject to ceilings for their earnings, Jensen Company has the following information for the pay period of January 15 – 31, 20xx.
Gross payroll
$10,000
Federal income tax withheld
$1,800
Social security rate
6%
Federal unemployment tax rate
.8%
Medicare rate
1.5%
State unemployment tax rate
5.4%
Assuming that all wages are subject to federal and state unemployment taxes, the Payroll Taxes Expense would be recorded as: A. $1,370B. $750C. $620D. $2,870
