Accounting - Chapter 13

The transaction to record employer payroll taxes expense is journalized  at the end of the quarter.

• True
• False

In each pay period the payroll information for each employee is recorded on each employee earning record.

• True
• False

The payroll register and employee earnings records provide all the payroll information needed to prepare a payroll.

• True
• False

The source document for payment of a payroll is the time card.

• True
• False 

Employer payroll taxes are business expenses.

• True
• False

The employer social security tax rate is not the same as the employee social security tax rate.

• True
• False

Federal unemployment insurance laws require that employers and employees pay taxes for unemployment compensation.

• True
• False

Each employer is required by law to periodically report the payroll taxes withheld from employee salaries.

• True
• False

The timing of payment of tax payments is based on the amount owed.

• True
• False

Federal unemployment tax is usually paid each month.

• True
• False