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Worksheets

Accounting

Total questions: 25

Worksheet time: 50mins

Name
Class
Date
1.

All the payroll information needed to prepare payroll and tax reports is found on

a)

Form W-4 and the employee earnings record

b)

Form W-4 and the payroll register

c)

the payroll register and the employee earnings record

d)

Form W-4

2.

The payroll journal entry is based on the totals of the payroll register

a)

Total Earnings column, each deduction column, and the Net Pay column

b)

Total Earnings, Earnings Regular, Earnings Overtime, and Deductions Total columns

c)

Earnings Regular, Earnings Overtime, and Deductions Total columns

d)

Total Earnings, Earnings Regular, and Earnings Overtime Total columns.

3.

The Total Earnings column total of a payroll register is journalized as a debit to

a)

Cash

b)

Salary Expense

c)

Employee Income Tax Payable

d)

Social Security Tax Payable

4.

The total of the Federal Income Tax column of a payroll register is journalized as a credit to

a)

Cash

b)

Salary Expense

c)

Employee Income Tax Payable

d)

Social Security Tax Payable

5.

The total of the Net Pay column of the payroll register is credited to

a)

a revenue account

b)

an expense account

c)

an asset account

d)

a liability account

6.

When the semimonthly payroll is paid, the credit to Cash is equal to the

a)

total earnings of all employees

b)

total deductions for income tax and social security tax

c)

total deductions

d)

net pay of all employees

7.

Employer payroll taxes are

a)

assets

b)

expenses

c)

revenues

d)

none of these

8.

Payroll taxes that are paid by both the employer and the employee are

a)

federal unemployment tax and social security tax

b)

federal unemployment tax and Medicare tax

c)

social security tax and Medicare tax

d)

federal income tax, social security tax, and Medicare tax

9.

A tax paid to administer the Federal unemployment program is the

a)

social security tax

b)

Medicare tax

c)

unemployment tax

d)

state unemployment tax

10.

A state tax used to pay benefits to unemployed workers is the

a)

social security tax

b)

Medicare tax

c)

federal unemployment tax

d)

state unemployment tax

11.

An employee's earnings subject to unemployment taxes are referred to as

a)

gross earnings

b)

net earnings

c)

FUTA earnings

d)

accumulated earnings

12.

Each employer who withholds income tax, social security tax, and Medicare tax from employee earnings must furnish each employee an

a)

IRS Form W-4

b)

IRS Form W-2

c)

IRS Form W-3

d)

IRS Form 941

13.

Each employer is required by law to report payroll taxes on an

a)

IRS Form W-2

b)

IRS Form 941

c)

IRS Form W-4

d)

IRS Form W-3

14.

The form used to report annual earnings and payroll taxes for all employees to the Social Security Administration is the

a)

W-2

b)

Form 941

c)

W-3

d)

W-4

15.

To record the payment of federal unemployment tax, the account debited is

a)

a revenue account

b)

an expense account

c)

a liability account

d)

an asset account

16.

Look at the W-2 answer True or False. John Butler’s total salary is more than his total social security salary.

a)

True

b)

False

17.

Look at the W-2 answer True or False. This Form W-2 shows John Butler’s net pay for the entire year.

a)

True

b)

False

18.

Look at the W-2 answer True or False. The amount withheld for Mr. Butler’s social security tax was more than

the amount withheld for his federal income tax.

a)

True

b)

False

19.

Look at the W-2 and answer True or False. State income tax was withheld from Mr. Butler’s salary.

a)

True

b)

False

20.

Look at the W-2 and answer True or False. All deductions from Mr. Butler’s salary for taxes and retirement plan contributions are shown on his Form W-2.

a)

True

b)

False

21.

Look at the W-2 and answer True or False. This Form W-2 would indicate whether Mr. Butler had more than one employer during the year.

a)

True

b)

False

22.

Look at the W-2 and answer True or False. If an employee works for several employers during the year, that employee must receive a Form W-2 from each employer.

a)

True

b)

False

23.

Look at the W-2 and answer True or False. An employer is required to provide employees with a Form W-2 no later than January 31 of the year following the one for which the report has been completed.

a)

True

b)

False

24.

Look at the W-2 and answer True or False. When John Butler files his federal income tax return, he must attach Copy A of Form W-2 to his return.

a)

True

b)

False

25.

Look at the W-2 and answer True or False. Businesses in states with state income tax must prepare additional copies of Form W-2.

a)

True

b)

False