Question : 101. Most employers required to withhold from employees for A. both federal and : 1233965

 

101. Most employers are required to withhold from employees for 
A. both federal and state unemployment compensation
B. only federal unemployment compensation tax
C. only federal income tax
D. only state unemployment compensation tax

102. Each year there is a ceiling for the amount that is subject to all of the following except 
A. Social security tax
B. Federal income tax
C. federal unemployment tax
D. state unemployment tax

103. Manning Company has the following information for the pay period of December 15 – 31, 20xx.

Gross payroll$15,000 Federal income tax withheld$3,000

Social security rate6% Federal unemployment tax rate.8%

Medicare rate1.5% State unemployment tax rate5.4%

Salaries Payable would be recorded for 
A. $15,000
B. $11,100
C. $10,875
D. $9,945

104. Most employers are levied a tax on payrolls for 
A. sales tax
B. medical insurance premiums
C. federal unemployment compensation tax
D. union dues

105. Payroll entries are made with data from the 
A. wage and tax statement
B. employee’s earning record
C. employer’s quarterly federal tax return
D. payroll register

106. The required form that is filed with the Internal Revenue Service showing the amount due for Federal income taxes withheld and FICA taxes is the 
A. Employment Withholding Allowance Certificate (Form 941)
B. Wage and Tax Statement (Form W-2)
C. Employer’s Quarterly Federal Tax Return (Form 941)
D. Corporate Income Tax Return (Form 1120)

107. The employee earnings record would contain which column that the payroll register would probably not contain? 
A. deductions
B. payment
C. earnings
D. cumulative earnings

108. 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 register
B. payroll check
C. employee’s earnings record
D. employer’s earnings record

109. 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 the employee? 
A. $568.74
B. $601.50
C. $660.00
D. $574.90

110. 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 employer’s payroll tax expense? 
A. $152.76
B. $91.26
C. $58.50
D. $178.50

 

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