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9th -
12thgrade
Chapter 13 Accounting for Payroll and Payroll Taxes
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- 1. Multiple ChoiceAll the payroll information needed to prepare payroll and tax reports is found on. (p. 378)Form W-4 and the employee earnings recordForm W-4 and the payroll registerthe payroll register and the employee earnings recordForm W-4
- 2. Multiple ChoiceThe payroll journal entry is based on the totals of the payroll register . (p. 379)Total Earnings column, each deduction column, and the Net Pay columnTotal Earnings, Earnings Regular, Earnings Overtime, and Deductions Total columnsEarnings Regular, Earnings Overtime, and Deductions Total columnsTotal Earnings, Earnings Regular, and Earnings Overtime Total columns
- 3. Multiple ChoiceThe Total Earnings column total of a payroll register is journalized as a debit to . (p. 380)CashSalary ExpenseEmployee Income Tax PayableSocial Security Tax Payable
- 4. Multiple ChoiceThe total of the Federal Income Tax column of a payroll register is credited to. (p. 380)a revenue accountan expense accounta liability accountan asset account
- 5. Multiple ChoiceThe total of the Net Pay column of the payroll register is credited to . (p. 380)a revenue accountan expense accountan asset accounta liability account
- 6. Multiple ChoiceWhen a semimonthly payroll is paid, the credit to Cash is equal to the . (p. 380)total earnings of all employeestotal deductions for income tax and social security taxtotal deductionsnet pay of all employees
- 7. Multiple ChoiceEmployer payroll taxes are . (p. 382)assetsexpensesrevenuesnone of these
- 8. Multiple ChoicePayroll taxes that are paid by both the employer and the employee are . (p. 382)federal unemployment tax and social security taxfederal unemployment taxsocial security tax and Medicare taxfederal income tax, social security tax, and Medicare tax
- 9. Multiple ChoiceA tax paid to administer the unemployment program is the . (p. 382)social security taxMedicare taxfederal unemployment taxstate unemployment tax
- 10. Multiple ChoiceA state tax used to pay benefits to unemployed workers is the. (p. 382)social security taxMedicare taxunemployment taxstate unemployment tax
- 11. Multiple ChoiceAn employee's earnings subject to unemployment taxes are referred to as . (p. 383)gross earningsnet earningsFUTA earningsaccumulated earnings
- 12. Multiple ChoiceEach employer who withholds income tax, social security tax, and Medicare tax from employee earnings must furnish each employee an . (p. 387)IRS Form W-4IRS Form W-2IRS Form W-3IRS Form 941
- 13. Multiple ChoiceEach employer is required by law to report payroll taxes on an . (p. 389)IRS Form W-4IRS Form 941IRS Form W-2IRS Form W-3
- 14. Multiple ChoiceThe form used to report annual earnings and payroll taxes for all employees to the Social Security Administration is the. (p. 390)W-2Form 941W-3W-4
- 15. Multiple ChoiceTo record the payment of federal unemployment tax, the account debited is . (p. 396)a revenue accountan expense accounta liability accountan asset account
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