Payroll Liabilities Test Review

Take home pay is commonly known as

According to the Fair Labor Standards Act overtime is paid when employees work _____ hours.

Which of the following taxes does not have a taxable base per calendar year?

• Federal Unemployment Tax

• State Unemployment Tax

• Social Security Tax

• Medicare Tax

The number of withholding allowances an employee claims will affect

• social security taxes withheld

• Medicare taxes withheld

• state unemployment tax withheld

• federal income tax withheld

When health insurance premiums are submitted to the health insurance carrier, the journal entry would include a _________.

• debit to Health Insurance Premiums Payable and a credit to Cash.

• debit to cash and a credit to Health Insurance Premiums Payable.

• debit to Health Insurance Expense and a credit to cash.

• debit to Health Insurance Premiums Payable and a credit to Health Insurance Expense.

The gross earnings of 6 employees at retail establishment for a week were: $620, $524, $715, $670, $588, and $675. What was the average amount earned for the week by these employees?

The federal form an employee must fill out before they can receive a paycheck is a _________.

The Salary Expense account is used to record the _________.

• employer’s payroll tax liabilities

• employer’s state tax liabilities

• employees’ total net earnings

• employees’ total gross earnings

Federal unemployment tax is paid by _________.

What type of payroll period consists of 26 pay periods?

• semi-monthly

• bi-weekly

• monthly

• bi-yearly