payroll register quizlet

54. 1. As of the June 11 pay date, the General Ledger account for Burling Mills has a balance of $14, 2. Paymentofemployeesalaries.OCO2. Safe-guards your retirement plans *not required to have a pension plan. C) It must pay its employees for the wages earned as of that date. A) It communicates departmental profitability. Paymentofemployeesalaries.2. \text{13. Health Insurance payable 224 8,375. Time worked - regular & overtime 7. The information provided in the payroll register is used primarily to meet the requirements of the Fair Labor Standards Act. Payment of employee salaries.} FICA Taxes payable-HI-liability Questions pertaining to religion, gender, national origin, or age are allowed on application forms when these are bonafide occupational qualifications for a job. These computations are shown in the Employee Payroll Register. Which of these employee types is an allowable exeption to the protection of the Age Discrimination in Employment? Recall that Zachary Fox and Michael Sierra are married, while Calvin Bell and David Alexander . 401(k) contributions $ 1,115. The following totals for the month of April were taken from the payroll Step 2: Working Hours. Dooley Publishing has the following payroll data for its July 1 pay date: Jul 1 Wages and salaries. The agreement also states that the two weeks of vacation shall be taken any time in 2023 and the amount paid will be 80 hours multiplied by the employee's rate of pay at December 31, 2022. This will increase the Federal withholding tax payable 220 $ 2,207. Rushing River Boats has the following data in its Social Security tax payable General Ledger That's why we've partnered with some of the top athletes in the world. The total of each distribution column shows the total amount of that department's wage expense. Loantoanotherfirm.12. Protection under the provisions of the Age Discrimination in Employment Act begins at what age?? Gross wages of $500.00 less withholdings of $38.25 for FICA and $87.25 for federal and state income taxes. Were reimagining what it means to work, and doing so in profound ways. Cross), Give Me Liberty! The ___ is a multicolumn form used to assemble and summarize the data needed at the end of each payroll period. Payroll Flashcards | Quizlet B) Equity Whenever employers withhold taxes and deductions from wages, pay employees or deposit tax payments with government agencies, that information should be simultaneously documented in the payroll register. Payroll Flashcards | Quizlet Payroll Term 1 / 52 Garnishments are court-ordered amounts that an employer must withhold from an employee's post-tax pay and remit the amount to the appropriate authority. A payroll register lists all basic information related to employee take-home pay. Deductions. B) Employee address A) the firm's payroll checking account information CH2 Payroll Acounting CHAPTER 2 Learning Objectives After studying this chapter, students should be able to: 1. For multiple-choice and true/false questions, simply press or click on what you think is the correct answer. Factory payroll costs in cash. Does FLSA require the employer to display a poster with the FLSA rules? B) Debit Cash $13,618; Credit Health Insurance Payable $13,618. Solved Columns included in the payroll register to compute - Chegg A. ADEA A cell phone company offers two different plans. Transcribed image text: Columns included in the payroll register to compute net pay may include which of the following? How do accrued, but not paid, wages appear on the balance sheet? Didier and Sons had the following employer's share payroll tax general journal entry for the May Loan to another firm.} B) Employee earnings record Single click the box with the question mark to produce a check, In the following payroll transaction, what is the amount of the net pay? & \text{ } & \text{ }\\ The payroll register for Nazir Corporation contained the following totals at the end of July: wages, $139,125; federal income taxes withheld, $35,582; state income taxes withheld, $5,863;. B) It is an individual register maintained for each employee, listing of all the payroll information. It lists payroll information about each employee, such as hours worked, gross pay, deductionsand net pay. What special accounts must usually be opened in the general ledger to record payroll tax entries? 41. The employees gross wages for the past week are. During the past week, the employee worked 50 hours. A) Both documents contain year-to-date totals of taxes. 2. It indicates, "Click to perform a search". A payroll register is a valuable tool that records employee wage information for each pay period and pay date. c. McNamara-O'Hara Service Contract Act D. ERISA provides that all employees are eligible to set up their own individual retirement accounts. 14. Next, click on the Insert Debit/Credit button, enter the first account number ( 12) or click on the pop-up Chart of Accounts icon to display a list for selection. 7. B) tax remittance information Payroll registers also provide aggregate employee information at a glance, which can be helpful when depositing tax payments, filing tax returns and performing other basic accounting tasks. Under the Affordable Care Act, which employers are required to provide insurance coverage for all full-time employees and for their dependents? 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. ls the FUTA tax used to pay unemployment benefits? & \text{ } & \text{ }\\ Multiple Choice. C. Restrictions the employment of child labor. 20XX: Gross pay $ 27,894. Enter the debit amount to clear the existing credit to Payroll Cash from the first journal entry above. The certificates include Debits and Credits, Adjusting Entries, Financial Statements, Balance Sheet, Income Statement, Cash Flow Statement, Working Capital and Liquidity, Financial Ratios, Bank Reconciliation, and Payroll Accounting. Paymentofalong-termnotepayable. the total expenses of the firm and decrease the net income of the firm. Employee Earnings Record: What It Is and How to Use It period. c. More than five have large-screen TVs? HOURS WORKED Jeremy Ortiz is an employee of Insulor Flooring, where his job responsibilities include selling service contracts to customers. Jan 19 Wages and salaries payable 226 8,134. On December 1, 20XX, Riley Sanders invested $250,000 to open Sanders Enterprises. To rule the payroll register means that the payroll accountant establishes procedures about the payroll register. Which items would be debited in the General Journal entry to record the employees' share of We have credited a liability account for each of the tax amounts. A) Form W-4 B) Form W-2 C) Payroll register D) Employee earnings record 28. Administrating the state unemployment taxes. ls the payroll register used in preparing the Form W-2? It exists in many forms, from manual booklets and ad-hoc registers created in Excel to reports produced by dedicated payroll software. The employers total expense for Marys employment during the week is. Quickly connect ADP solutions to popular software, ERPs and other HR systems. B) By dollar amount Every state imposes a state unemployment tax on employers in their state. B) The income statement Does the Federal Income Tax Withholding Law require all employment data to be kept permanently? Under FLSA, what is the current minimum wage? (You may select more than one answer. Any boxes Left with a question mark will be automatically graded as incorrect.) Union Dues payable 227 4,683. answer to payroll project chapter 7.xlsx - JOURNAL DATE What are the enhancing qualities of the qualitative characteristics? Most firms are now using a standard reference inquiry form, supplied by the IRS, If an investigative consumer report is being checked, the job applicant must be notified in writing by the employer that such a report is being sought, There are no states that allow employees to access their personnel files, The payroll register is a separate payroll record that is kept on each employee, A payroll register lists all employees who have earned remuneration, the amount of remuneration, the deductions, and the net amount paid for each pay period, The amounts needed for the payroll entries in the journal come from the employee's earnings record, The trend toward outsourcing of payroll operations has weakened in recent years. the total incomes of the firm and decrease the net income of the firm. The higher payroll What are the main kinds of information contained in a payroll register? Collectionofanaccountreceivable. business. With e-Services for Business, you can: Register, close, or re-open an employer payroll tax account. Fair Labor Standards Act D. 50 1. What does the Civil Rights Act of 1954 cover? The W-2 provides all of the information required by the Affordable Care Act. C) Garnishment How will payroll deductions from employees wages for their portion of 401K plans be recorded? d. Occupational Safety and Health Act This sort of regular data-entry routine, when strictly adhered to, can help ensure accurate payroll records. The completed Payroll Register for the February and March biweekly pay periods is provided, assuming benefits went into effect as anticipated. 55. 5. 221 C) Payroll accounts do not appear on the trial balance because of their changeable nature. What Is A Payroll Register - Forbes Advisor Two complete payroll-related General Journal entries are recorded each pay period: one for the employees' payroll,one for the employer's share of the taxes. Vacaction Benefits Payable- liability. Gross wages of $500.00 + employer's portion of FICA $38.25 ($500.00 X employer rate of 7.65%) + unemployment tax of $24.00 + worker comp insurance of $5.00. b. Owners equity as of December 31, 2014, assuming that assets increased by $113,000 and liabilities increased by$44,000 during 2014. Discover what others say about us. depositor, what entry Should appear on November 15 for the remittance of the month's Social D) It must wait until the next financial period to record the payroll data. Click the card to flip Definition 1 / 52 True Click the card to flip Flashcards Learn Test Match Created by Ziera117 Plus Terms in this set (52) C. ERISA establishes minimum vesting schedules that protect the workers' benefits. Although they record much of the same information, payroll journals and payroll registers are not identical. 221 DATE DESCRIPTION POST REF. C) Labor reports Payroll typically creates an accrued liability for all of the following reasons except Because it is unnecessary to report amounts owed to employees for salaries or wages earned. B) Employee pay remittance and voluntary deduction remittance Chapter 6: Analyzing and Journalizing Payroll, , , AP Lang - Television: The Plug-In Drug (T/V), Don Herrmann, J. David Spiceland, Wayne Thomas, Fundamentals of Financial Management, Concise Edition, Alvin A Arens, Mark A Beasley, Randal J Elder, National Association for the Advancement of Colored People. Your sister currently uses 1,700 minutes and sends 1,600 texts each month. C) Employee signature Adp payroll calendar 2023 - Cnqesa.wikinger-turnier.de True, Payroll accruals reflect the amount of payroll paid but not earned at the end of the financial It is a monthly schedule depositor. Vacation Benefits Expense-Operating expense ADP helps organizations of all types and sizes unlock their potential. Copyright 2023 AccountingCoach, LLC. LO1: Recording in Payroll Register and Posting in Employees' Earnings A) Debit R. Sanders Capital, $250,000; Credit Cash, $250, Payroll accounting | Payroll journal entries AccountingTools Raw materials purchases for cash. mark to produce a Check mark for a correct answer and double click the box with the question Issuanceofbonds.11. Jeremy is single with two withholding allowances. A) Social Security tax, $204; Medicare tax, $792. You need to have a record of how many hours your employees have worked, their gross salary, tax withholdings, and all other deductions. Dont just take our word for it. Total Earnings 9. Question: Continuing Payroll Problem, 6B: Chapter 6 You have almost completed the Olney Company's Employee Payroll Register for the pay period ending January 8, 20--. A. Want to read all 11 pages? Saleofequipmentforanotereceivable. At a minimum, how often should an administrator furnish a statement of total benefits accrued and accrued benefits that are vested under ERISA? How are the funds used which are provided by FUTA and SUTA? Comprehensive payroll and HR software solutions. Complete the Regular Earnings columns (Rate per Hour and Amount) for hourly employees. Under the Civil Rights Act of 1964 and the Age Discrimination in Employment Act, which of the following questions may not be asked by an employer during pre-hire inquiries? For fill-in-the-blank questions, press or click on the blank space provided. \text{Transaction} & \text{Type of Activity} & \text{Cash Inflow or Outflow}\\ \hline Requirements: 1. C) The balance sheet Does FLSA require all employees to be paid weekly, biweekly', monthly? In January 2023 an employer remits the state unemployment tax that pertains to its employees' wages for the final three months of 2022. pay date. Ring up sales and take payments in style with the sleek touchscreen Register device Make it mobile Every Register comes with a PAX A920 terminal to use as a mobile credit card reader Add on wireless POS hardware Complete your hardware suite with Bluetooth barcode scanners, receipt printers and cash drawers Hardware that won't hold you back A) It is employee labor that may be billed to customers. Which of the following acts prohibits discriminating in hiring, firing, promoting, compensating, or in nay other condition of employment on the basis of race, color, religion, gender, or national origin? Because of the amount of sensitive information included in the payroll register, access tends to be limited only to those authorized within a company, such as the payroll manager. Protest Unemployment Insurance benefit charges or rates. Copyright Record the health insurance deduction. A) The income statement True False. For fill-in-the-blank questions, press or click on the blank space provided. How does a debit balance in the wages and salaries expense account affect a firm's income You need to purchase a plan for your teenage sister. Suppose your sister doubles her monthly usage to 3,400 minutes and sends 3,200 texts. Which of the following is not a provision of ERISA? False - also needs to be a reasonable amount. DEBIT CREDIT DEBIT CREDIT Get inspired to begin transforming HR at your company. Purchaseofrentinadvance.4. Which act covers employee pension and welfare plan.? Attend webinars or find out where and when we can connect at in-person events. Any boxes left with a question mark will be C. 40 Not only will this make it easier for you to pay your taxes and do payroll reconciliation, but it also allows employees to better understand their finances. D) It is a report that becomes published with other financial reports. Indirect labor usage. 18. Less than five have large-screen TVs? and year-to- date earnings. Which of the following are processes that occur in most payroll accounting systems? Form W-2 To enter a formula manually, follow these steps: Move the cell pointer to the cell that you want to hold the formula. Payroll Accounting quiz 6 Flashcards | Chegg.com Paymentofanaccountpayable. Purchaseofrentinadvance. Purchaseofinventory.7. C) Credit $4, C) Cross-referencing < Prey 18 of 40 Pay period dates. Which of the following is an example of a trade association? & \text{ } & \text{ }\\ Correct answer: Option (1) Medicare tax is the correct answer. To prohibit discrimination on the basis of age in the employment practices of employer. 401(k) contributions payable 223 454. What is the role of enhancing qualities in the conceptual framework? Saleofequipmentforcash.TypeofActivityOCashInfloworOutflowCO. Social Security tax payable 221 10,517. A) As assets C) It is a worksheet that accountants use to ensure payroll accuracy. Under FLMA, do any states have paid a family leave plan? \text{4. Learn how we can make a difference by joining forces to improve the success of the clients we share. A) It should create a reminder about the accrual to ensure accuracy of computations on the next the box With the question mark to empty the box for a wrong answer. Answer : Option E, Prior Years Earnings Explanat . & \text{O} & \text{CO}\\ lf both federal and state regulations cover minimum wages for the same employee, is the federal rate always used for the minimum wage? A. What Are Payroll Liabilities? | Definition, How to Track Them, & More They must disclose to the job applicant that they are seeking an investigative report. He is the sole author of all the materials on AccountingCoach.com. A) The total of the debits must equal the total of the credits. $y = -x - 4$. D) Payroll register 5. The payroll register contains ________. When specific payroll details are needed, such as during an audit, accountants typically refer to the payroll journal instead of the general ledger. Solved Continuing Payroll Problem, 6B: Chapter 6 You have - Chegg box for a wrong Answer. Payroll registers are typically a series ofsimple charts (one for each employee during a given pay period) that include such information as: Note that payroll recordkeeping laws differ across jurisdictions.

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