Accounting: Chapter 12-13 Review

The transaction to record employer payroll taxes expense is journalized on the same date the payroll is journalized.

• True

• False

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

• True

• False

The source document for payment of a payroll is a memorandum.

• True

• False

Employer payroll taxes are business revenues.

• True

• False

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

• True

• False

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

• True

• False

Federal unemployment tax is usually paid each quarter.

• True

• False

In the journal entry for a payroll, the amount debited to Salary Expense is the total of the Net Pay column of the payroll register.

• True

• False

To see if an employee has reached the tax base for a pay period, you would look at the employee's ___ ___.

(a)  

Until amounts withheld from employee salaries are paid by the employer, they are recorded as (a)   .