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WorksheetsAccounting CH11-13
Total questions: 21
Worksheet time: 11mins
Which of the following is NOT a commonly used special journal?
Cash Payments Journal
Cash Receipts Journal
Sales Journal
Supplies Journal
Blue Ally Technology accepted returned merchandise purchased on account by App State for $5000, plus sales tax of $350. The journal entry for Blue Ally to record this transaction is:
debit Sales Returns and Allowances $5000, Sales Tax Payable $350; credit Accounts Payable/ App State $5350
debit Sales Returns and Allowances $5000, Sales Tax Payable $350; credit Accounts Receivable/ App State $5350
debit Purchases Returns and Allowances $5000, Sales Tax Payable $350; credit Accounts Receivable/ App State $5350
debit Sales Returns and Allowances $5350; credit Accounts Receivable/ App State $5350
Bob's Market returned merchandise that was purchased on account to Clothing Warehouse, $1,400. The journal entry for Bob's Market to record this transaction is:
debit Accounts Payable/Clothing Warehouse, $1,400; credit Purchases Returns and Allowances, $1,400
debit Purchases Returns and Allowances, $1,400; credit Accounts Payable/Clothing Warehouse, $1,400
debit Accounts Receivable/Clothing Warehouse, $1,400; credit Purchases Returns and Allowances, $1,400
debit Accounts Payable/Clothing Warehouse, $1,400; credit cash, $1,400
On what date does the 4th quarter of the calendar year begin?
October 1
November 1
December 1
November 30
On what date does the 3rd quarter of the calendar year end?
June 30
August 31
September 1
September 30
Which type of qualified retirement plan is sponsored by an employer?
401K
IRA
Roth IRA
Social Security
What is the name of the document that employers must provide to their employees by January 31 of each year?
W-2
W-3
W-4
payroll register
Which of the following taxes are not paid by the employer?
Federal Income Tax
Federal Unemployment Tax
Social Security Tax
Medicare Tax
Susan has gross earnings of $500, Social Security withholding of $27.50, Medicare withholding of $8.40, federal income tax withholding of $75 and state income tax withholding of $23.70. What are Susan's total deductions?
$102.50
$124.60
$134.60
$269.20
Bob's Market paid unemployment taxes of $63. The entry to journalize the payment of the unemployment taxes is:
debit Federal Unemployment Tax Payable $63, credit cash $63
debit Federal cash $63, credit Unemployment Tax Payable $63
debit Salary Expense $63, credit cash $63
debit Salary Expense $63, credit Federal Unemployment Tax Payable $62
Bob's Market has $1800 in wages with $111.60 in social security tax withholding. In this scenario, what is the Social Security Tax Payable for the pay period?
$111.60
$223.20
$250
$180
Bob's Market has $3000 in gross pay. The federal unemployment tax rate is 6.2%. What is the employer's federal unemployment tax for the pay period?
$6.20
$186
$212
$1860
Frank's rate of pay is $10/ hour plus 2% sales commission. He worked 36 hours this week and sold $5000 worth of merchandise. What is his total earnings for the week?
$360
$460
$351.60
$720
Tim's rate of pay is $10/ hour. Tim worked 53 hours this week. What is Tim's total earnings for the week?
$400
530$
$595
$795
Jim's annual salary is $36,000. He is paid monthly. What are his gross earnings for the month of May?
$1000
$3000
$6000
$36000
Earnings distributed to stockholders are known as
stocks
dividends
accounts payable
credit
Who is responsible for declaring a dividend?
Owner
President
Board of Directors
Stockholders
Which of the following source documents is used for a purchases return?
Credit memorandum
Debit memorandum
Invoice
Receipt
Which of the following is a common example of a subsidiary ledger?
Cash Payments
Cash Receipts
Accounts Payable
Sales
Bob's Market returned merchandise that was purchased on account to Clothing Warehouse, $1,400. The journal entry for Clothing Warehouse to record this transaction is:
debit Accounts Receivable/Bob's Market, $1,400; credit Sales Returns and Allowances, $1,400
debit Sales Returns and Allowances, $1,400; credit Accounts Receivable/Bob's Market, $1,400
debit Accounts Payable/Bob's Market, $1,400; credit Sales Returns and Allowances, $1,400
debit Accounts Receivable/Bob's Market $1,400; credit cash, $1,400
Blue Ally Technology accepted returned merchandise purchased on account by App State for $5000, plus sales tax of $350. The journal entry for App State to record this transaction is:
debit Accounts Payable/Blue Ally $5350; credit Purchases Returns & Allowances $5350
debit Accounts Payable/Blue Ally $5350; credit Purchases Returns & Allowances $5000, Sales Tax Payable, $350
debit Purchases Returns & Allowances $5350; credit Accounts Payable/Blue Ally $350
debit Sales Returns and Allowances $5350; credit Accounts Receivable/ App State $5350
