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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 ChoiceEmployer payroll taxes are business expenses.TrueFalse
- 3. Multiple ChoiceFederal unemployment insurance laws require that employers and employees pay taxes for unemployment compensation.TrueFalse
- 4. Multiple ChoiceEach employer is required by law to periodically report the payroll taxes withheld from employee salaries.TrueFalse
- 5. Multiple ChoiceThe timing of payment of tax payments is based on the amount owed.TrueFalse
- 6. 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
- 7. Multiple ChoiceThe tax base for Medicare tax is usually the same as the tax base for social security tax.TrueFalse
- 8. 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
- 9. Multiple ChoiceThe source document for paying employee income tax and social security and Medicare tax isa checka receipta memorandumnone of these
- 10. Multiple ChoiceIn general, employers are required to pay state unemployment taxesmontlyduring the month following each calendar quarterannuallynone of these
- 11. Multiple ChoiceIn each pay period, the payroll information for each employee is recorded on his or her employee earnings record.TrueFalse
- 12. Multiple ChoiceThe payroll register provides all the payroll information needed to prepare a payroll.TrueFalse
- 13. Multiple ChoiceA business deposits the total of gross wages in a separate payroll checking account.TrueFalse
- 14. Multiple ChoiceEmployer payroll taxes are business expenses.TrueFalse
- 15. Multiple ChoiceThe employer social security tax rate is different than the employee social security tax rate.TrueFalse
- 16. Multiple ChoiceFederal unemployment insurance laws require that employers and employees pay taxes for unemployment compensation.TrueFalse
- 17. Multiple ChoiceThe transaction to record employer payroll taxes expense is journalized at the end of the quarter.TrueFalse
- 18. Multiple ChoiceEach employer who withholds income tax, social security tax, and Medicare tax from employee earnings must furnish each employee with a quarterly statement.TrueFalse
- 19. Multiple ChoiceSome employers must deposit payments for withheld employees’ federal income tax and social security and Medicare taxes on the next banking day.TrueFalse
- 20. Multiple ChoiceIf the tax base for calculating unemployment taxes is $7,000 and an employee’s accumulated earnings are $6,500.00, and the employee earns another $1,500.00, the amount of new earnings subject to unemployment tax is $1,500.00.TrueFalse
- 21. Multiple ChoiceUntil the amounts withheld from employee salaries are paid by the employer, they are recorded asassetsliabilitiessalary expenesrevenue
- 22. Multiple ChoiceThe payment of payroll taxes to the government is referred to as atransfer payment.tax reimbursement.deposit.tax fulfillment.
- 23. Multiple ChoiceThe total earnings subject to federal unemployment tax is referred to astotal earnings.gross earnings.taxable earnings.unemployment taxable earnings.
- 24. Multiple ChoiceEach employer must file a _________ federal tax return showing the federal income tax, social security tax, and Medicare tax due the government. "Form 941"MonthlyYearlyQuarterlySemiannually
- 25. Multiple ChoiceEmployers are required to furnish each employee with an annual statement of earnings and withholdings beforeJanuary 15 of the following year.January 1 of the following year.January 31 of the following year.December 31 of the current year
- 26. Multiple ChoiceThe source document for paying employee income tax and social security and Medicare tax isa check.a receipt.a memorandum.none of these.
- 27. Multiple ChoiceIn general, employers are required to pay state unemployment taxesmonthlyduring the month following each calendar quarter.annually.none of these.
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