Hosted by Ms. Appel

Hosted by Ms. Appel

Final True/False 1 True/False 2 Fill In The Blank 1 Fill In The Blank 2 100 100 100 100 200 200 200 200 300 300 300 300 400 400 400 400 500 500 500 500

Row 1, Col 1 What is False? The source document for payment of a payroll is the time card

Row 1, Col 2 What is True? Employee withheld income tax, employee Social Security and Medicare tax, and employer Social Security and Medicare tax are paid periodically to the federal government in a combined payment.

Row 1, Col 3 What are Soc. Sec. & Medicare, Federal & State Unemployment? List the payroll taxes which employers must pay

Row 1, Col 4 What is January 31 of the following year? Employers are required to furnish each employee with an annual statement of earnings and withholdings before what date

Row 2, Col 1 What is True? Some employers must deposit payments for withheld employees’ federal income tax and social security and Medicare taxes on the next banking day.

Row 2, Col 2 What is True? Employer payroll taxes are business expenses.

Row 2, Col 3 What is Cash? Daily Double In the entry to journalize paying the liability for the first quarter federal unemployment tax, the account credited would be this

Row 2, Col 4 What is a Check? The source document for paying state unemployment tax is this

Row 3, Col 1 What is True? Employer payroll taxes expense is based on a percentage of employee earnings.

Row 3, Col 2 What is False? The employer social security tax rate is not the same as the employee social security tax rate.

Row 3, Col 3 What is Net Pay of All Employees? When a semimonthly payroll is paid, the credit to cash is equal to this

Row 3, Col 4 What is Liability? Daily Double The total of the Federal Income Tax column of a payroll register is credited to this type of account

Row 4, Col 1 What is True? An employer is not required to pay federal unemployment taxes on an employee who has already earned $7,000 during the calendar year.

Row 4, Col 2 What is False? All employers must deposit payments for withheld employees’ federal income tax and social security and Medicare taxes using the Electronic Federal Tax Payments System (EFTPS)

Row 4, Col 3 What is Federal Unemployment Tax? A federal tax used for state and federal administrative expenses of the unemployment program is

Row 4, Col 4 What is State Unemployment Tax? A state tax used to pay benefits to unemployed workers is

Row 5, Col 1 What is False? Each employer who withholds income tax and social security and Medicare tax from employee salaries must furnish each employee with a quarterly statement.

Row 5, Col 2 What is False? The transaction to record employer payroll taxes expense is journalized at the end of the quarter.

Row 5, Col 3 What are Federal and State Unemployment Tax Payable (2 separate accounts)? To record the employer payroll taxes expense, the following accounts are credited: Social Security Tax Payable, Medicare Tax Payable, and these 2 other accounts.

Row 5, Col 4 What is during the month following each calendar quarter.? In general, employers are required to pay state unemployment taxes this often

If an employee’s accumulated earnings are $6,500, and the employee earns another $1,500, how much of the employee’s earnings are subject to unemployment tax for the pay period? Final Jeopardy

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