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- 1. Multiple ChoiceThe transaction to record employer payroll taxes expense is journalized at the end of the quarter.TrueFalse
- 2. Multiple ChoiceIn each pay period the payroll information for each employee is recorded on each employee earning record.TrueFalse
- 3. Multiple ChoiceThe payroll register and employee earnings records provide all the payroll information needed to prepare a payroll.TrueFalse
- 4. Multiple ChoiceThe source document for payment of a payroll is the time card.TrueFalse
- 5. Multiple ChoiceEmployer payroll taxes are business expenses.TrueFalse
- 6. Multiple ChoiceThe employer social security tax rate is not the same as the employee social security tax rate.TrueFalse
- 7. Multiple ChoiceFederal unemployment insurance laws require that employers and employees pay taxes for unemployment compensation.TrueFalse
- 8. Multiple ChoiceEach employer is required by law to periodically report the payroll taxes withheld from employee salaries.TrueFalse
- 9. Multiple ChoiceThe timing of payment of tax payments is based on the amount owed.TrueFalse
- 10. Multiple ChoiceFederal unemployment tax is usually paid each month.TrueFalse
- 11. Multiple ChoiceIn the journal entry for a payroll, the amount debited to Salary Expense is the total of the Net Pay column of the payroll register.TrueFalse
- 12. Multiple ChoiceThe tax base for Medicare tax is usually the same as the tax base for social security tax.TrueFalse
- 13. Multiple ChoiceIf the employee's accumulated earning are $6,500, and the employee earns another $1,500, the amount of new earnings subject to unemployment tax is $1,500.TrueFalse
- 14. Multiple ChoiceSome employers must deposit payments for withheld employees' federal income tax and social security and Medicare taxes on the next banking day.TrueFalse
- 15. Multiple ChoiceEach employer who withholds income tax and social security and Medicare tax from employee salaries must furnish each employee with a quarterly statement.TrueFalse
- 16. Multiple ChoiceUntil the amounts withheld from employee salaries are paid by the employee, they are recorded as,assetsliabilitiessalary expenserevenue
- 17. Multiple ChoiceThe entry to journalize paying a semimonthly payroll less deductions for employee income tax, social security and Medicare tax, and U.S. Savings Bonds is a credit to Cash and the liability accounts and a debit toSalary ExpenseUnemployment Tax Payable - FederalPayroll Taxes ExpenseCash
- 18. Multiple ChoiceThe total earnings subject to federal unemployment tax is referred to asunemployment taxable earningstaxable earningsgross earningstotal earnings
- 19. Multiple ChoiceEach employer must file a federal tax return showing the federal income tax and social security and Medicare taxes due to the governmentmonthlyquarterlyyearlysemiannually
- 20. Multiple ChoiceEmployers are required to furnish each employee with an annual statement of earning and withholdings beforeDecember 31 of the current yearJanuary 1 of the current yearJanuary 15 of the following yearJanuary 31 of the following year
- 21. Multiple ChoiceThe source document for paying employee income tax and social security and Medicare tax isa checka receipta memorandumnone of these
- 22. Multiple ChoiceIn general, employers are required to pay state unemployment taxesmontlyduring the month following each calendar quarterannuallynone of these
- 23. Multiple ChoiceThe source document for paying state unemployment tax isa checka receipta memorandumnone of these
- 24. Multiple ChoiceA state tax used to pay benefits to unemployed workers isSocial Security taxMedicare taxunemployment taxstate unemployment tax
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