WorksheetsAccounting Basics: Chapter 6
Total questions: 10
Worksheet time: 5mins
What is one of the two FICA taxes?
FUTA
Federal Income Tax
SUTA
Medicare Tax
Which tax is considered a "matching tax"?
SUTA
Social Security Tax
FUTA
Union Dues
Which of the following would be an appropriate use of Petty Cash?
withdrawal by the owner
purchase of stamps
pay off a loan
cash for an employee's birthday card
Which of the following would NOT require a journal entry from a correction made on a bank reconciliation?
deposit in transit
error in payment
bank charge
NSF Check
What account is debited in the transaction to record payroll?
Gross Pay Expense
Payroll Tax Expense
Wages Expense
Payroll Expense
What does NSF stand for?
not-sufficient friends
non-sufficient funds
not-so-fun
never sniff fries
What total percent makes up both Social Security and Medicare Tax?
0.6%
5.4%
6.2%
7.65%
What is one tax employer's pay but employee's do not?
union dues
retirement
unemployment
federal income tax
What is the journal entry to establish a Petty Cash account?
Debit - Petty Cash; Credit - Cash
Debit - Cash; Credit - Petty Cash
Debit - Expenses; Credit - Cash
none of the above
Getting paid bi-weekly means you get _____paychecks per year.
12
24
25
26
