WorksheetsAccounting - Chapter 13
Total questions: 24
Worksheet time: 12mins
Name
Class
Date
1.
The transaction to record employer payroll taxes expense is journalized at the end of the quarter.
a)
True
b)
False
2.
In each pay period the payroll information for each employee is recorded on each employee earning record.
a)
True
b)
False
3.
The payroll register and employee earnings records provide all the payroll information needed to prepare a payroll.
a)
True
b)
False
4.
The source document for payment of a payroll is the time card.
a)
True
b)
False
5.
Employer payroll taxes are business expenses.
a)
True
b)
False
6.
The employer social security tax rate is not the same as the employee social security tax rate.
a)
True
b)
False
7.
Federal unemployment insurance laws require that employers and employees pay taxes for unemployment compensation.
a)
True
b)
False
8.
Each employer is required by law to periodically report the payroll taxes withheld from employee salaries.
a)
True
b)
False
9.
The timing of payment of tax payments is based on the amount owed.
a)
True
b)
False
10.
Federal unemployment tax is usually paid each month.
a)
True
b)
False
11.
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.
a)
True
b)
False
12.
The tax base for Medicare tax is usually the same as the tax base for social security tax.
a)
True
b)
False
13.
If the employee's accumulated earning are $6,500, and the employee earns another $1,500, the amount of new earnings subject to unemployment tax is $1,500.
a)
True
b)
False
14.
Some employers must deposit payments for withheld employees' federal income tax and social security and Medicare taxes on the next banking day.
a)
True
b)
False
15.
Each employer who withholds income tax and social security and Medicare tax from employee salaries must furnish each employee with a quarterly statement.
a)
True
b)
False
16.
Until the amounts withheld from employee salaries are paid by the employee, they are recorded as,
a)
assets
b)
liabilities
c)
salary expense
d)
revenue
17.
The entry to journalize paying a semimonthly payroll less deductions for employee income tax, social security and Medicare tax, and U.S. Savings Bonds is a credit to Cash and the liability accounts and a debit to
a)
Salary Expense
b)
Unemployment Tax Payable - Federal
c)
Payroll Taxes Expense
d)
Cash
18.
The total earnings subject to federal unemployment tax is referred to as
a)
unemployment taxable earnings
b)
taxable earnings
c)
gross earnings
d)
total earnings
19.
Each employer must file a federal tax return showing the federal income tax and social security and Medicare taxes due to the government
a)
monthly
b)
quarterly
c)
yearly
d)
semiannually
20.
Employers are required to furnish each employee with an annual statement of earning and withholdings before
a)
December 31 of the current year
b)
January 1 of the current year
c)
January 15 of the following year
d)
January 31 of the following year
21.
The source document for paying employee income tax and social security and Medicare tax is
a)
a check
b)
a receipt
c)
a memorandum
d)
none of these
22.
In general, employers are required to pay state unemployment taxes
a)
montly
b)
during the month following each calendar quarter
c)
annually
d)
none of these
23.
The source document for paying state unemployment tax is
a)
a check
b)
a receipt
c)
a memorandum
d)
none of these
24.
A state tax used to pay benefits to unemployed workers is
a)
Social Security tax
b)
Medicare tax
c)
unemployment tax
d)
state unemployment tax
100 %
