Question 1

Since vacation time is paid when used, there is no need to accrue this time in a liability account at the end of each accounting period.

Accepted Answer

A) True 
 B)False

Question 2

The adjusting entry to record the accrued vacation pay at the end of an accounting period includes credits to the tax withholding liability accounts.

Accepted Answer

A) True 
 B)False

Question 3

The total of the net amount paid to employees each payday is credited to either the cash account or the salaries payable account.

Accepted Answer

A) True 
 B)False

Question 4

An employee's marital status and number of withholding allowances never appear on the payroll register.

Accepted Answer

A) True 
 B)False

Question 5

Companies usually provide a separate column in the payroll register to record the employer's payroll taxes.

Accepted Answer

A) True 
 B)False

Question 6

Since FUTA tax is paid only once a quarter, the FUTA tax expense is recorded only at the time of payment.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following is not an expense of the employer?

Accepted Answer

A)  FUTA tax 
B)  FICA tax-HI 
C)  FICA tax-OASDI 
D)  SUTA tax 
E)  Union dues withheld 
A)  FUTA tax 
B)  FICA tax-HI 
C)  FICA tax-OASDI 
D)  SUTA tax 
E)  Union dues withheld

Since vacation time is paid when used, there is no need to accrue this time in a liability account at the end of each accounting period.

The adjusting entry to record the accrued vacation pay at the end of an accounting period includes credits to the tax withholding liability accounts.

The total of the net amount paid to employees each payday is credited to either the cash account or the salaries payable account.

An employee's marital status and number of withholding allowances never appear on the payroll register.

Companies usually provide a separate column in the payroll register to record the employer's payroll taxes.

Since FUTA tax is paid only once a quarter, the FUTA tax expense is recorded only at the time of payment.

Which of the following is not an expense of the employer?

The Need for Payroll and Personnel Records

Computing Wages and Salaries

Social Security Taxes

Income Tax Withholding

Unemployment Compensation Taxes

Filters

Exam 6: Analyzing and Journalizing Payroll Transactions

Since vacation time is paid when used, there is no need to accrue this time in a liability account at the end of each accounting period.

The adjusting entry to record the accrued vacation pay at the end of an accounting period includes credits to the tax withholding liability accounts.

The total of the net amount paid to employees each payday is credited to either the cash account or the salaries payable account.

An employee's marital status and number of withholding allowances never appear on the payroll register.

Companies usually provide a separate column in the payroll register to record the employer's payroll taxes.

Since FUTA tax is paid only once a quarter, the FUTA tax expense is recorded only at the time of payment.

Which of the following is not an expense of the employer?

The Need for Payroll and Personnel Records

Computing Wages and Salaries

Social Security Taxes

Income Tax Withholding

Unemployment Compensation Taxes

Filters