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WorksheetsAccounting 1 - Ch. 13 Review
Total questions: 20
Worksheet time: 7mins
Name
Class
Date
1.
Until the amounts withheld from employee salaries are paid by the employer they are recorded as
a)
assets.
b)
liabilities.
c)
salary expense.
d)
revenue.
2.
The entry to journalize paying a payroll less deductions includes a debit to
a)
Salary Expense.
b)
Unemployment Tax Payable-Federal.
c)
Payroll Taxes Expense.
d)
Cash.
3.
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.
4.
Each employer must file a federal tax return showing the income tax and SS and Medicare tax due
a)
monthly.
b)
quarterly.
c)
yearly.
d)
semiannually.
5.
Employers are required to give each employee an annual statement of earnings and withholdings
a)
before December 31 of the current year.
b)
before January 1 of the following year.
c)
before January 15 of the following year.
d)
before January 31 of the following year.
6.
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 the other options.
7.
In general, employers are required to pay state unemployment taxes
a)
monthly.
b)
during the month following each quarter.
c)
annually.
d)
none of the other options.
8.
The source document for paying state unemployment tax is
a)
a check.
b)
a receipt.
c)
a memorandum.
d)
none of the other options.
9.
A state tax used to pay benefits to unemployed workers is
a)
Social Security tax.
b)
Medicare tax.
c)
federal unemployment tax.
d)
state unemployment tax.
10.
Employers must pay payroll taxes for
a)
social security and Medicare.
b)
Social Security, Medicare, federal and state unemployment.
c)
federal income tax, social security, and Medicare tax.
d)
none of the other options.
11.
The entry to journalize paying the 1st quarter federal unemployment tax, would include a credit
a)
to Salary Expense.
b)
to Unemployment Tax Payable-Federal.
c)
to Payroll Tax Expense.
d)
to Cash.
12.
When a semimonthly payroll is paid, the credit to Cash is equal to the
a)
total earnings of all employees.
b)
total deductions for income tax, SS, and Medicare.
c)
total deductions.
d)
net pay of all employees.
13.
The source document for payment of a payroll is
a)
a check.
b)
a memorandum.
c)
none of the other options.
d)
a receipt.
14.
Employer payroll taxes are business expenses.
a)
True
b)
False
15.
The employer SS tax rate is not the same as the employee SS tax rate.
a)
True
b)
False
16.
The timing of payment of tax payments is based on the amount owed.
a)
True
b)
False
17.
Federal unemployment tax is usually paid each month.
a)
True
b)
False
18.
The tax base for Medicare is usually the same as the tax base for Social Security.
a)
True
b)
False
19.
If an employee's accumulated earnings are $6,500 and the employee earns another $1,500, the amount of the new earnings subject to unemployment tax is $1,500.
a)
True
b)
False
20.
Some employers must deposit payments for withheld taxes on the next banking day.
a)
True
b)
False
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