Accounting Chapter 13 Payroll

Medicare is for which two groups?

• Elderly & Disabled
• Elderly & Orphaned Minors
• Unemployed & Poor
• Poor & Immigrants

The Total Earnings column total of a payroll register is journalized as a debit to . (p. 380)

• Cash
• Salary Expense
• Employee Income Tax Payable
• Social Security Tax Payable

The total of the Federal Income Tax column of a payroll register is credited to. (p. 380)

• a revenue account
• an expense account
• a liability account
• an asset account

Employer payroll taxes are . (p. 382)

• assets
• expenses
• revenues
• none of these

Payroll taxes that are paid by both the employer and the employee are . (p. 382)

• federal unemployment tax and social security tax
• federal unemployment tax
• social security tax and Medicare tax
• federal income tax, social security tax, and Medicare tax

A tax paid to administer the unemployment program is the . (p. 382)

• social security tax
• Medicare tax
• federal unemployment tax
• state unemployment tax

Each employer who withholds income tax, social security tax, and Medicare tax from employee earnings must furnish each employee an . (p. 387)

• IRS Form W-4
• IRS Form W-2
• IRS Form W-3
• IRS Form 941

Each employer is required by law to report payroll taxes on an . (p. 389)

• IRS Form W-4
• IRS Form 941
• IRS Form W-2
• IRS Form W-3

The form used to report annual earnings and payroll taxes for all employees to the Social Security Administration is the. (p. 390)

• W-2
• Form 941
• W-3
• W-4

FICA (Federal Insurance Contributions Act) taxes provide benefits for retirees. Another name for FICA is Social Security.

• true
• false