Accounting Chapter 12 and 13

Front

All the payroll information needed to prepare payroll and tax reports is found on: Form W-4 and the employee earnings record, Form W-4 and the payroll register, the payroll register and the employee earnings record, Form W-4.

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the payroll register and the employee earnings record

Front

The payroll journal entry is based on the totals of the payroll register: Total Earnings column, each deduction column, and the Net Pay column, Total Earnings, Earnings Regular, Earnings Overtime, and Deductions Total columns, Earnings Regular, Earnings Overtime, and Deductions Total columns, Total Earnings, Earnings Regular, and Earnings Overtime Total columns.

Back

Total Earnings column, each deduction column, and the Net Pay column

Front

The Total Earnings column total of a payroll register is journalized as a debit to: Cash, Salary Expense, Employee Income Tax Payable, Social Security Tax Payable.

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Salary Expense

Front

The total of the Federal Income Tax column of a payroll register is credited to: a revenue account, an expense account, a liability account, an asset account.

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a liability account

Front

The total of the Net Pay column of the payroll register is credited to: a revenue account, an expense account, an asset account, a liability account.

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an asset account.

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When a semimonthly payroll is paid, the credit to Cash is equal to the: total earnings of all employees, total deductions for income tax and social security tax, total deductions, net pay of all employees

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net pay of all employees

Front

Employer payroll taxes are: assets, expenses, revenues, none of these.

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expenses

Front

Payroll taxes that are paid by both the employer and the employee are: federal unemployment tax and social security tax, federal unemployment tax and Medicare tax, social security tax and Medicare tax, federal income tax, social security tax, and Medicare tax

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social security tax and Medicare tax

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A tax paid to administer the unemployment program is the

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federal unemployment tax

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A state tax used to pay benefits to unemployed workers is the

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state unemployment tax.