Acc499 Bachelor Capstone in Accounting: Unit 8 Quiz - Version 2

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Acc499 Bachelor Capstone in Accounting
Unit 8 Quiz (Version 2)

1. Companies usually provide a separate column in the payroll register to record the employer's payroll taxes. (Points: 2)
True
False

2. Deductions from gross pay in the payroll register are reflected on the credit side of the journal entry to record the payroll. (Points: 2)
True
False

3. The employer's payroll tax expenses are recorded for all employers when these taxes are actually paid.(Points: 2)
True
False

4. An employee's marital status and number of withholding allowances never appear on the payroll register.(Points: 2)
True
False

5. Carmen Gaetano worked 46 hours during this pay week. He is paid time-and-a-half for hours over 40 and his pay rate is $17.90/hour. What was his overtime premium pay for this workweek? (Points: 2)
A. $107.40
B. $161.10
C. $50.70
D. $53.70
E. $26.85

6. The employee's earnings record provides information for each of the following except _______.(Points: 2)
A. completing FormsW-2
B. completing the journal entry to record the payroll
C. determining when the accumulated wages of an employee reach cut-off levels
D. preparing reports required by state unemployment compensation laws
E. preparing the payroll register
7. Which of these accounts shows the total gross earnings that the employer incurs as an expense each payday?(Points: 2)
A. Payroll Taxes
B. Federal Income Taxes Payable
C. Wages Expense
D. Salaries Payable
E. None of the above

8. Which of the following accounts is an expense account in which an employer records the FICA, FUTA, and SUTA taxes? (Points: 2)
A. Wages Expense
B. Payroll Taxes
C. SUTA Taxes Payable
D. Salaries Payable
E. None of the above

9. When recording the deposit of FUTA taxes owed, the proper entry is _______. (Points: 2)
A. FUTA Tax Expense
Cash
B. Payroll Taxes
Cash
C. Payroll Taxes
FUTA Taxes Payable
D. FUTA Taxes Payable
Cash
E. FUTA Tax Expense
FUTA Taxes Payable

10. The entry made at the end of the accounting period to record wages incurred but unpaid is ______.(Points: 2)
A. Wages Expense
Wages Payable
B. Wages Expense
FICA Taxes Payable-OASDI
FICA Taxes Payable-HI
FIT Payable
C. Wages Payable
Wages Payable
D. Cash
Wages Expense
E. Cash
Wages Expense
F. Payroll Taxes
Wages Payroll
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