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Chapter 9 - Current liability pages 17-18

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50 views

Chapter 9 - Current liability pages 17-18

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thuhangg.1205
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© © All Rights Reserved
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102.

The detailed record indicating the data for each employee for each payroll period and the cumulative total
earnings for each employee is called the
A. payroll register
B. payroll check
C. employee's earnings record
D. employer's earnings record

103. An employee receives an hourly rate of $15, with time and a half for all hours worked in excess of 40
during the week. Payroll data for the current week are as follows: hours worked, 48; federal income tax
withheld, $120; cumulative earnings for the year prior to this week, $24,500; Social security tax rate, 6% on
maximum of $100,000; and Medicare tax rate, 1.5% on all earnings; state unemployment compensation tax,
3.4% on the first $7,000; federal unemployment compensation tax, .8% on the first $7,000. What is the net
amount to be paid to the employee?
A. $568.74
B. $601.50
C. $660.00
D. $574.90

104. Use the following information to answer the following questions.

The following totals for the month of April were taken from the payroll register of Magnum Company.

Salaries $12,000
FICA taxes withheld 900
Income taxes withheld 2,500
Medical insurance deductions 450
Federal Unemployment Taxes 32
State Unemployment Taxes 216

The journal entry to record the monthly payroll on April 30 would include a
A. credit to Salaries Payable for $8,150
B. debit to Salaries Expense for $7,902
C. debit to Salaries Payable for $8,150
D. debit to Salaries Payable for $7,902

105. Use the following information to answer the following questions.

The following totals for the month of April were taken from the payroll register of Magnum Company.

Salaries $12,000
FICA taxes withheld 900
Income taxes withheld 2,500
Medical insurance deductions 450
Federal Unemployment Taxes 32
State Unemployment Taxes 216
The entry to record accrual of employer’s payroll taxes would include a
A. debit to Payroll Tax Expense for $248
B. debit to FICA Taxes Payable for $1,800
C. credit to Payroll Tax Expense for $248
D. debit to Payroll Tax Expense for $1,148

106. The following totals for the month of April were taken from the payroll register of Magnum Company.

Salaries $10,000
FICA taxes withheld 750
Income taxes withheld 2,000
Medical insurance deductions 450
Unemployment Taxes 420

The entry to record accrual of employer’s payroll taxes would include a


A. debit to Payroll Tax Expense for $1,170
B. debit to FICA Taxes Payable for $1,500
C. credit to Payroll Tax Expense for $420
D. debit to Payroll Tax Expense for $1,620

107. An employee receives an hourly rate of $15, with time and a half for all hours worked in excess of 40
during the week. Payroll data for the current week are as follows: hours worked, 46; federal income tax
withheld, $110; cumulative earnings for the year prior to this week, $24,500; Social security tax rate, 6% on
maximum of $100,000; and Medicare tax rate, 1.5% on all earnings; state unemployment compensation tax,
3.4% on the first $7,000; federal unemployment compensation tax, .8% on the first $7,000. What is the net
amount to be paid to the employee?
A. $569.87
B. $539.00
C. $625.00
D. $544.88

108. The following totals for the month of June were taken from the payroll register of Young Company:

Salaries expense $15,000


Social security and 1,125
Medicare Taxes
withheld
Income Taxes 3,000
withheld
Retirement Savings 500

Salaries subject to
federal and state
unemployment taxes of 6.2 percent 4,000

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