the employee earnings record quizlet

journal entry and page number. Entries to the general ledger will post amounts in the first pair of debit or credit columns: Earnings records are supporting documents for (D) IRS Form W-3. E. Wages Expense b. are the part of the paycheck used to pay taxes. E) 26.85. Which law governs the fiduciary responsibility that employers have with regards to employees' payroll deductions? incurs as an expense each payday? \text{Production } & \text{240.000} & \text{units}\\ (p. 389), The form used to report annual earnings and payroll taxes for all employees to the Social Security Administration is the Multiple choice question. 100 terms. When a dividend is received from the affiliate. \\\hline D) Salaries Payable B) False, 5. When the fair value of the affiliate stock increases. What information is commonly provided by a job-seeker on the application for employment form? (A) a check. c.The Federal Unemployment Tax Act sets the minimum wage and the current minimum wage rate is $7.25 per hour. An employer: 2020, to record compensation expense, if any, in 2020. c. Prepare the entry on December 31, 2020, assuming that all 150,000 SARs are exercised. D. FUTA Taxes Payable Option#1:Option#2:Option#3:$12,000,000afterfiveyears$2,150,000peryearforfiveyears$10,000,000afterthreeyears. How is your target country ranked by Transparency International, Drugs in the bloodstream The concentration yyy of a certain drug in the bloodstream ttt hours after an oral dosage (with 0t150 \leq t \leq 150t15 ) is given by the equation, y=100(1e0.462t)y=100\left(1-e^{-0.462 t}\right) b. b.FUTA funds are used to pay the state and federal administrative expenses and SUTA funds are used to pay the unemployment compensation benefits to the qualified unemployed workers. Assets area A) True Study with Quizlet and memorize flashcards containing terms like Which column exists in the employees' earnings records but not in the payroll register?, What is the connection between the employees' earnings records and payroll tax reporting?, A credit increases which of the following types of accounts? and more. \text{Theoretical capacity} & \text{300} & \text{units}\\ Shared taxes Multiple choice question. The debit to Payroll Taxes for FICA, FUTA and SUTA taxes (rate = 4.5%) on a gross payroll of $200,876 (if no one has capped for FICA and not subject to the .9% Medicare on wages over $200,000, no one has capped for SUTA, and FUTA wages= $85,000), is: The employer FICA - OASDI ($200,876 x.062) + FICA - HI ($200,876 x .0145) + SUTA ($200,876 x .045) + FUTA ($85,000 x .006) = $24,916.43, On July 30, an analysis of the general ledger of Biomet Device Inc.'s shows the following credit balances: (B) payroll . Which of the following are true about the general ledger? Which of these accounts shows the total gross earnings that the employer incurs as an expense each payday? Employer taxes, Shared taxes Cash, When recording the deposit of FUTA taxes owed, the proper entry is: Show your work. It adds complexity to the personnel recordkeeping. Credit accounting information The purpose of a labor report is to do what? a.To prepare period reports and complete Form W-2 for each employee b.To complete Form W-2 for each employee c.To prepare period reports and complete Form W-2 for employer d.To prepare period reports e.To complete Form W-2 for employer, Which basic records . C) determining when the accumulated wages of an employee reach cutoff levels. B) False, 9. create the need for more entries. Trend reports offer business leaders insight about changes in labor costs over a period. A fundamental concept in accounting is the _____ ____ , which must remain balanced. employee earnings record. Company management, Unions the need for increased or decreased staff within a department, determining market price for company products, Claudia Bienias Gilbertson, Debra Gentene, Mark W Lehman, Fundamentals of Financial Management, Concise Edition, Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield. What is the original entry point for payroll information into the accounting system? Past-DueCategoryAccountsReceivableTotalPercentageUncollectible0-30days$22,4806%31-90days36,54017%Over90days15,33025%\begin{array}{c} pay cards. Define the process of "posting." B) Withholdings for a 401(k) plan (D) state unemployment tax owed. What are some of the problems faced by West African economies? B) Payroll Taxes d. companies are allowed to automatically enroll employees in the company's retirement plan. Examples of payroll related liabilities include: Garnishments true or false:The investment income in a Roth IRA is not subject to federal income taxes when withdrawn. Why is it important for a firm to use both a payroll register Employee Income Tax Payable (D) employee earnings account. Lowest 7 percent. The payroll register, Employees' Earning Records and Accounting System Entries. Study with Quizlet and memorize flashcards containing terms like 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. The employees' gross earnings are posted to which General Journal account? \text{Option \#1:}&&\text{\$ 12,000,000 after five years}\\ (D) accumulated earnings. T F, When union dues that have been withheld from employees' wages are turned over to the union Medicare tax -the description is usually left blank. General ledger (D) state unemployment tax. The total earnings paid to an employee after payroll taxes and other deductions. (A) IRS Form W-4

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