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Chapter 13 Review

Total questions: 24

Worksheet time: 20mins

Name
Class
Date
1.

In each pay period, the payroll information for each employee is recorded on his or her employee earnings record.

(a)  

2.

The payroll register provides all the payroll information needed to prepare a payroll.

(a)  

3.

A business deposits the total of gross wages in a separate payroll checking account.

(a)  

4.

Employer payroll taxes are business expenses.

(a)  

5.

The employer social security tax rate is different than the employee social security tax rate.

(a)  

6.

Federal unemployment insurance laws require that employers and employees pay taxes for unemployment compensation.

(a)  

7.

The transaction to record employer payroll taxes expense is journalized at the end of the quarter.

(a)  

8.

Each employer is required by law to periodically report the payroll taxes withheld from employee salaries.

(a)  

9.

The timing of payroll tax payments is based on the amount owed.

(a)  

10.

Form W-2 reports an employee's annual earnings and the withholdings for federal income, social security, and Medicare taxes.

(a)  

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)  

12.

The tax base for Medicare tax is the same as the tax base for social security tax.

(a)  

13.

If an employee's accumulated earnings are $6500.00, and the employees' federal income tax and social security and Medicare taxes on the next banking day.

(a)  

14.

Some employer must deposit payments for withheld employees' federal income tax and social security and Medicare taxes on the next banking day.

(a)  

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)  

16.

Until the amounts withheld from employee salaries are paid by them employer, they are recorded as:

a)

assets

b)

liabilities

c)

salary expense

d)

revenue

17.

They payment of payroll taxes to the government is referred to as a

a)

tax reimbursement

b)

transfer payment

c)

deposit

d)

tax fulfillment

18.

The total earnings subject to federal unemployement tax is referred to as

a)

taxable earnings

b)

gross earnings

c)

total earnings

d)

unemployment tax 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)

monthly

b)

quarterly

c)

yearly

d)

semiannually

20.

Employers are required to furnish each employee with an annual statement of earnings and withholdings before

a)

December 31 of the current year

b)

January 1 of the following year

c)

January 15 of the following year

d)

January 3 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)

monthly

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 ta used to pay benefits to unemployed workers is

a)

social security tax

b)

Medicare tax

c)

unemployment tax

d)

state unemployment tax