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WorksheetsAccounting II - Chapter 13
Total questions: 24
Worksheet time: 12mins
Name
Class
Date
1.
In each pay period, the payroll information for each employee is recorded on his or her employee earnings record.
a)
True
b)
False
2.
The payroll register provides all the payroll information needed to prepare a payroll.
a)
True
b)
False
3.
A business deposits the total of gross wages in a separate payroll checking account.
a)
True
b)
False
4.
Employer payroll taxes are business expenses.
a)
True
b)
False
5.
The employer social security tax rate is different than the employee social security tax rate.
a)
True
b)
False
6.
Federal unemployment insurance laws require that employers and employees pay taxes for unemployment compensation.
a)
True
b)
False
7.
The transaction to record employer payroll taxes expense is journalized at the end of the quarter.
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 payroll tax payments is based on the amount owed.
a)
True
b)
False
10.
Form W-2 reports an employee’s annual earnings and the with-holdings for federal income, social security, and Medicare taxes.
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 the same as the tax base for social security tax.
a)
True
b)
False
13.
If an employee’s accumulated earnings are $6,500.00, and the employee earns another$1,500.00, the amount of new earnings subject to unemployment tax is $1,500.00.
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, social security tax, and Medicare tax from employee earnings must furnish each employee with a quarterly statement.
a)
True
b)
False
16.
Until the amounts withheld from employee salaries are paid by the employer, they are recorded as
a)
a. assets.
b)
b. liabilities.
c)
c. salary expense
d)
d. revenue.
17.
The payment of payroll taxes to the government is referred to as a
a)
a. tax reimbursement.
b)
b. transfer payment.
c)
c. deposit.
d)
d. tax fulfillment.
18.
The total earnings subject to federal unemployment tax is referred to as.
a)
a. unemployment taxable earnings
b)
b. taxable earnings.
c)
c. gross earnings.
d)
d. total earnings.
19.
Each employer must file a _________ federal tax return showing the federal income tax,social security tax, and Medicare tax due the government.
a)
a. monthly.
b)
b. quarterly.
c)
c. yearly.
d)
d. semiannually.
20.
Employers are required to furnish each employee with an annual statement of earnings and with-holdings before
a)
a. December 31 of the current year.
b)
b. January 1 of the following year.
c)
c. January 15 of the following year.
d)
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. a check
b)
b. a receipt.
c)
c. a memorandum
d)
d. none of these.
22.
In general, employers are required to pay state unemployment taxes
a)
a. monthly.
b)
b. during the month following each calendar quarter
c)
c. annually.
d)
d. none of these.
23.
The source document for paying state unemployment tax is
a)
a. a check
b)
b. a receipt.
c)
c. a memorandum.
d)
d. none of these.
24.
A state tax used to pay benefits to unemployed workers is
a)
a. social security tax.
b)
b. Medicare tax.
c)
c. unemployment tax.
d)
d. state unemployment tax.
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