Question 1

The total amount earned by the employee is called the

Accepted Answer

A)  gross pay. 
B)  take home pay. 
C)  net pay. 
D)  payroll. 
A)  gross pay. 
B)  take home pay. 
C)  net pay. 
D)  payroll.

Question 2

Because salaried employees who hold supervisory or managerial positions generally are not subject to wage and hour laws,they are known as ____________________ employees.

Accepted Answer

The answer of Because salaried employees who hold supervisory or...

Question 3

An employee whose regular hourly rate is $12 and whose overtime rate is 1.5 times the regular rate worked 45 hours in one week.The employer should record an overtime premium of ____________________ in the payroll register.

Accepted Answer

The answer of An employee whose regular hourly rate is...

Question 4

Abe Carter had gross earnings of $6,000 for the pay period ending 11/30.His total gross earnings as of 11/15 were $112,000.If Social Security taxes are 6.2% on a maximum earnings of $113,700 per year and Medicare tax is 1.45% on all earnings,the journal entry to record his earnings for the period ending 11/30 would include:

Accepted Answer

A)  a credit to Salaries Expense for $6,000 
B)  a credit to Medicare Tax Payable for $870.00 
C)  a credit to Social Security Tax Payable for $87.00 
D)  a credit to Medicare Tax Payable for $87.00 
A)  a credit to Salaries Expense for $6,000 
B)  a credit to Medicare Tax Payable for $870.00 
C)  a credit to Social Security Tax Payable for $87.00 
D)  a credit to Medicare Tax Payable for $87.00

Question 5

Each type of deduction made from the employees' earnings is recorded in a separate

Accepted Answer

A)  asset account. 
B)  expense account. 
C)  liability account. 
D)  revenue account. 
A)  asset account. 
B)  expense account. 
C)  liability account. 
D)  revenue account.

Question 6

Jill Monroe earns $25 per hour.She worked 48 hours this pay period and receives time-and-a-half for any hours worked over 40 hours per week.Jill's gross earnings are:

Accepted Answer

A)  $1,200 
B)  $1,300 
C)  $1,100 
D)  $1,920 
A)  $1,200 
B)  $1,300 
C)  $1,100 
D)  $1,920

Question 7

Lacy Crawford has a regular hourly rate of $21.50.In a week when she worked 40 hours and had deductions of $110 for federal income tax,$53.50 for social security tax,and $12.50 for Medicare tax,her net pay was

Accepted Answer

A)  $860. 
B)  $684. 
C)  $750. 
D)  $794. 
A)  $860. 
B)  $684. 
C)  $750. 
D)  $794.

Question 8

The amount of employees' ____________________ pay is recorded in the Wages Expense account.

Accepted Answer

The answer of The amount of employees' ____________________ pay is...

Question 9

Identify the list of accounts below that would normally all have a debit balance.

Accepted Answer

A)  Salaries Expense,Salaries Payable,Cash 
B)  Salaries Payable,Medicare Tax Payable,Office Salaries Expense 
C)  Cash,Salaries Expense,Insurance Expense 
D)  Employee Income Tax Payable,Social Security Tax Payable,Wages Expense 
A)  Salaries Expense,Salaries Payable,Cash 
B)  Salaries Payable,Medicare Tax Payable,Office Salaries Expense 
C)  Cash,Salaries Expense,Insurance Expense 
D)  Employee Income Tax Payable,Social Security Tax Payable,Wages Expense

Question 10

It is best not to pay wages and salaries by

Accepted Answer

A)  cash. 
B)  a check from the regular cash account. 
C)  the direct-deposit method. 
D)  a check from the payroll cash account. 
A)  cash. 
B)  a check from the regular cash account. 
C)  the direct-deposit method. 
D)  a check from the payroll cash account.

Question 11

If an employee whose regular hourly rate is $9 and whose overtime rate is 1.5 times the regular rate works 42 hours in one week,the employee's gross pay is $378.

Accepted Answer

A) True 
 B)False

Question 12

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

Accepted Answer

A) True 
 B)False

Question 13

Employees submit Form W-4 to their employers to show the number of withholding allowances they claim for federal income tax withholding purposes.

Accepted Answer

A) True 
 B)False

Question 14

The employer records the amount of federal income tax withheld as:

Accepted Answer

A)  an asset. 
B)  a payroll tax expense. 
C)  a liability. 
D)  an expense. 
A)  an asset. 
B)  a payroll tax expense. 
C)  a liability. 
D)  an expense.

Question 15

An independent ____________________ is paid by the company to carry out a specific task or job but is not under the direct supervision,control,and direction of the company.

Accepted Answer

The answer of An independent ____________________ is paid by the...

Question 16

During one week,three employees of the Pampered Pooch Pet Salon worked the number of hours shown below.All these employees receive overtime pay at one and a half times their regular hourly rate for any hours worked beyond 40 in a week.Compute the regular earnings,overtime earnings,and gross pay for each employee.

Accepted Answer

Employee No.1: Reg.Earn. ,$960.00;OT Ear

Question 17

The monthly salaries for December and the year-to-date earnings as of November 30 for the three employees of the Design Warehouse are listed below.Compute the amount of social security tax and Medicare tax to be withheld from each of the employee's gross pay for December.Assume a 6.2 percent social security tax rate and a base of $113,700 for the calendar year.Assume a 1.45 percent Medicare tax rate.

Accepted Answer

Employee No.1: Soc.Sec.Tax,$58

Question 18

An employee whose regular hourly rate is $9 and whose overtime rate is 1.5 times the regular rate worked 44 hours one week.The employee's gross pay was

Accepted Answer

A)  $378. 
B)  $396. 
C)  $414. 
D)  $594. 
A)  $378. 
B)  $396. 
C)  $414. 
D)  $594.

Question 19

During one week,three employees of the Siesta Inn worked the number of hours shown below.All these employees receive overtime pay at one and a half times their regular hourly rate for any hours worked beyond 40 in a week.Compute the regular earnings,overtime earnings,and gross pay for each employee.

Accepted Answer

Employee No.1: Reg.Earn. ,$560.00;OT Ear

Exam 10: Payroll Computations, Records, and Payment

The total amount earned by the employee is called the

Because salaried employees who hold supervisory or managerial positions generally are not subject to wage and hour laws,they are known as ____________________ employees.

An employee whose regular hourly rate is $12 and whose overtime rate is 1.5 times the regular rate worked 45 hours in one week.The employer should record an overtime premium of ____________________ in the payroll register.

Each type of deduction made from the employees' earnings is recorded in a separate

Jill Monroe earns $25 per hour.She worked 48 hours this pay period and receives time-and-a-half for any hours worked over 40 hours per week.Jill's gross earnings are:

Lacy Crawford has a regular hourly rate of $21.50.In a week when she worked 40 hours and had deductions of $110 for federal income tax,$53.50 for social security tax,and $12.50 for Medicare tax,her net pay was

The amount of employees' ____________________ pay is recorded in the Wages Expense account.

Identify the list of accounts below that would normally all have a debit balance.

It is best not to pay wages and salaries by

If an employee whose regular hourly rate is $9 and whose overtime rate is 1.5 times the regular rate works 42 hours in one week,the employee's gross pay is $378.

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

Employees submit Form W-4 to their employers to show the number of withholding allowances they claim for federal income tax withholding purposes.

The employer records the amount of federal income tax withheld as:

An independent ____________________ is paid by the company to carry out a specific task or job but is not under the direct supervision,control,and direction of the company.

An employee whose regular hourly rate is $9 and whose overtime rate is 1.5 times the regular rate worked 44 hours one week.The employee's gross pay was

Accounting: the Language of Business

Analyzing Business Transactions

Analyzing Business Transactions Using T Accounts

The General Journal and the General Ledger

Adjustments and the Worksheet

Closing Entries and the Postclosing Trial Balance

Accounting for Sales and Accounts Receivable

Accounting for Purchases and Accounts Payable

Cash Receipts, Cash Payments, and Banking Procedures

Payroll Taxes, Deposits, and Reports

Accruals, Deferrals, and the Worksheet

Financial Statements and Closing Procedures

Accounting Principles and Reporting Standards

Accounts Receivable and Uncollectible Accounts

Notes Payable and Notes Receivable

Merchandise Inventory

Property, Plant, and Equipment

Accounting for Partnerships

Corporations: Formation and Capital Stock Transactions

Corporate Earnings and Capital Transactions

Long-Term Bonds

Financial Statement Analyses

The Statement of Cash Flows

Departmentalized Profit and Cost Centers

Accounting for Manufacturing Activities

Job Order Cost Accounting

Process Cost Accounting

Controlling Manufacturing Costs: Standard Costs

Cost-Revenue Analysis for Decision Making

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