Ch9. Video 7 - Employee Payroll Deductions example

The video tutorial explains a payroll example using Uniform Company and its employee, Miss Eva Cruz. It covers her salary, tax withholdings, benefits, and voluntary deductions. The tutorial demonstrates how to calculate her net pay and journalize the payroll entries from the employee's perspective.

What is the annual salary of Miss Eva Cruz at Uniform Company?

• $96,000

• $90,000

• $100,000

• $80,000

How much is withheld from Miss Cruz's salary for federal income tax?

• $800

• $300

• $600

• $500

What percentage is used to calculate FICA Social Security deductions?

• 8.0%

• 6.2%

• 7.5%

• 5.5%

How much does Miss Cruz contribute to her retirement plan each month?

• $320

• $400

• $450

• $500

What is the total deduction from Miss Cruz's salary for voluntary withholdings?

• $2,532

• $2,000

• $2,300

• $2,800

What is the net pay Miss Cruz takes home after all deductions?

• $6,000

• $5,800

• $5,468

• $5,000

In the journal entry, what is the term used for the amount the company owes Miss Cruz after deductions?

• Expense Payable

• Salaries Payable

• Net Income

• Gross Salary