POBC: WAGES JOURNALS

One half of a wages journal should always include an entry in which account?

• The wages expense account

• The HMRC account

• The VAT control account

• The Wages control account

The journal entry to show the total wages expense to the business is?

• debit wages control

  credit wages expense

• debit SLCA

  credit wages control

• debit wages expense

  credit wages control

• credit VAT control

  debit wages control

How is net pay calculated?

• gross pay minus all payments (ees and ers) to HMRC

• gross pay plus ers NI minus PAYE and ees NI

• gross pay minus PAYE, ees NI and ees pension

• gross pay minus ess NI and ees pension

Should the wages control account always balance at the end of the period?

• Yes

• No

• Sometimes

• Only if 'ees and 'ers amounts are the same

How is the total wages cost to the business calculated?

• Gross pay plus ni ers

• gross pay plus ni ers and pension ers

• gross pay plus ni ers and ees and pension ers and ees

• gross pay minus all hmrc deductions

The HMRC account and the Pension account are both what type of account?

• Asset

• Expense

• Liability

• Income

The total paid to HMRC is calculated as follows:

• NI EES PLUS NI ERS

• NI EES PLUS NI ERS PLUS PENSION EES AND PENSION ERS

• NI EES PLUS NI ERS PLUS PAYE PLUS PENSION EES AND PENSION ERS

• NI EES PLUS NI ERS PLUS PAYE

Are Trade Union fees deducted from gross pay?

• no

• yes but only if it's the end of the financial year

• yes

• only if the employee makes a special request

What is the double entry for recording net pay?

• debit wages control account, credit net pay account

• debit wages control account, credit bank account

• debit wages expense account, credit wages control account

• debit bank account, credit wages control account

What is the double entry for recording Trade union fees?

• dr bank, cr trade union fees

• dr trade union fees, cr bank

• dr wages control, cr trade union fees

• dr trade union fees, cr wages control