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Exam 6: Analyzing and Journalizing Payroll

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Question 31

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The employee's earnings record provides information for each of the following except :

A) completing Forms W-2.
B) completing the journal entry to record the payroll.
C) determining when the accumulated wages of an employee reach cutoff levels.
D) preparing reports required by state unemployment compensation laws.
E) preparing the payroll register.

F) All of the above
G) None of the above

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Question 32

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Exhibit 6-1 Refer to Exhibit 6-1 . Journalize the entry to record the payroll.

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Question 33

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Every state allows employers to make e-payment options as a condition of employment.

Which of the following items would require an adjusting entry at the end of each accounting period?

In the case of a federal tax levy, the employee will notify the employer of the amount the employee wants taken out of his or her paycheck.

Deductions from gross pay in the payroll register are reflected on the credit side of the journal entry to record the payroll.

The entry made at the end of the accounting period to record wages incurred but unpaid is:

If employees must contribute to the state unemployment fund, this deduction should be shown in the payroll tax entry.

FUTA Taxes Payable is an expense account in which are recorded the employer's federal unemployment taxes.

Posting to the general ledger for payroll entries is done only at the end of each calendar year.

Carmen Gaetano worked 46 hours during this payweek. He is paid time-and-a-half for hours over 40 and his pay rate is $17.90/hour. What was his overtime premium pay for this workweek?

Exhibit 6-1 The totals from the first payroll of the year are shown below. -Refer to Exhibit 6-1 .  Journalize the adjustment for accrued wages for the following Monday, which is the end of the accounting period.  The gross payroll for that day is $7,475.

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

For child support garnishments, tips are considered part of an employee's disposable earnings.

The wage and salaries expense account is an operating expense account debited for total net pay each payroll period.

The employer keeps track of each employee's accumulated wages in the employee's earnings record.

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

Which of the following accounts is an expense account in which an employer records the FICA, FUTA, and SUTA taxes?

FICA Taxes Payable-HI is a liability account in which is recorded the liability of the employer for the HI tax on the employer as well as for the HI tax withheld from employees' wages.

In all computerized payroll systems, there is still the need to manually post from the printed payroll journal entry to the general ledger.