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WorksheetsChapter 12 & 13 accounting
Total questions: 26
Worksheet time: 13mins
Name
Class
Date
1.
The total amount of money an employee earns in a pay period before deductions
a)
net pay
b)
gross pay
c)
book value
d)
overall wages
2.
An amount paid to an employee based on a percentage of the employee's sales is
a)
salary
b)
wages
c)
commission
d)
overtime
3.
The person responsible for preparing a payroll in a business
a)
payroll clerk
b)
accountant
c)
pay monitor
d)
CEO
4.
The amount of time over which an employee is paid is called
a)
pay day
b)
payroll
c)
paycheck
d)
pay period
5.
The most common way that young employees are paid is
a)
weekly salary
b)
hourly wage
c)
sales commission
d)
in cash
6.
A record of the time an employee arrives and leaves each day is often kept on a
a)
ledger card
b)
time manager
c)
clock document
d)
time card
7.
The overtime rate for work over 40 hours is __________ times the regular rate of pay.
a)
1
b)
1.5
c)
2
d)
2.5
8.
The taxes that MUST come out of every employee's paycheck are called
a)
required deductions
b)
voluntary deductions
c)
allowances
d)
FUTA
9.
An employee can reduce the amount of the income tax taken out of their check by
a)
increasing allowances
b)
decreasing allowances
c)
putting in overtime
d)
giving money to charity
10.
Social Security and Medicare tax combined are also called
a)
FUTA
b)
SUTA
c)
SSM
d)
FICA
11.
Amounts subtracted from pay are called
a)
overtime
b)
taxes
c)
deductions
d)
commissions
12.
Employees state how many allowances they have on a form called
a)
1099
b)
Federal Tax Refund Form
c)
W-4
d)
W-2
13.
A separate record kept for each employee and all the pay they received throughout the year is
a)
payroll register
b)
earnings record
c)
W-4
d)
Employee pay stub
14.
The amount left after deductions are subtracted is called
a)
gross pay
b)
overtime
c)
commission
d)
net pay
15.
What column of the payroll register did we use to record the United Way deduction
a)
Health Insurance
b)
FUTA
c)
Other
d)
FICA
16.
The account used to record the deductions and pay from an EMPLOYEES paycheck is
a)
salaries payable
b)
payroll tax expense
c)
payroll tax payable
d)
salaries expense
17.
The largest credit entry in the salaries expense entry is
a)
social security tax payable
b)
employees federal income tax payable
c)
cash
d)
health insurance payable
18.
When we record the salaries expense, the social security tax account is
a)
debited
b)
credited
19.
The current Medicare tax rate is
a)
7.65%
b)
1.45%
c)
found on the tax table
d)
6.2%
20.
Taxes paid by an employer to provide funds for workers who are laid off are called
a)
FICA
b)
FUTA
c)
Social Security
d)
Federal Income taxes
21.
When an employer records their (the employer) expenses for the payroll they use the _____ account.
a)
salary expense
b)
FICA payable
c)
Payroll tax expense
d)
cash
22.
Overtime is paid when an employee works more than _____ hours a week
a)
20
b)
36
c)
40
d)
48
23.
An example of a voluntary deductions is
a)
FICA
b)
Health Insurance
c)
State Tax
d)
none are voluntary
24.
A list of employees and payments due to each (from the employer) for a specific pay period is called
a)
a W-4
b)
a Employee Earning record
c)
A Payroll register
d)
a journal entry
25.
A set amount of money paid to an employee each pay period is called
a)
salary
b)
wages
c)
commission
d)
overtime
26.
When a check is sent to the social security administration to pay the portion of the taxes that the employer collected, this social security account is
a)
debited
b)
credited
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