Question 6: Match each pay-related term with its definition.Pay periodAnnual pay amountDROP HEREWagePay rate typically paid on an hourly basisDROP HEREWorkweekCan be any given, consistent seven daysDROP HERESalarySchedule the employer follows for paying employeesDROP HEREQuestion 9: What is NOT a portion of an employer's payroll tax expense?Answer:A.O Federal unemployment taxВ.O Social Security taxC.O Medicare taxD.O Federal income taxQuestion 10: Match each act with the year it was passed into law.1996PersonalResponsibilityandWorkOpportunityReconciliationDROP HERE1938Immigration Reform and ControlDROP HERE1986Fair Labor StandardsDROP HERE

Hi student Since there are multiple questions, we will answer only first question.

Answered: Question 6: Match each pay-related term…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 12EB: Reference Figure 12.15 and use the following information to complete the requirements. A. Determine...

See similar textbooks

Similar questions

Use Figure 12.15 to complete the following problem. Roland Inc. employees monthly gross pay information and their W-4 Form withholding allowances follow. Rolands payroll deductions include FICA Social Security at 6.2%, FICA Medicare at 1.45%, FUTA at 0.6%, SUTA at 5.4%, federal income tax (based on withholdings table) of gross pay, state income tax at 3% of gross pay, and health insurance coverage premiums of $1,000 split 50% employees and 50% employer. Assume each employee files as single, gross income is the same amount each month, October is the first month of business operation for the company, and salaries have yet to be paid. Record the entry or entries for accumulated employee and employer payroll for the month of October; dated October 31.
Payroll Accounting and Discussion of Labor Costs Blitzen Marketing Research paid its weekly and monthly payroll on January 31. The following information is available about the payroll: Blitzen will pay both the employers taxes and the taxes withheld on April 15. Required: 1. Prepare the journal entries to record the payroll payment and the incurrence of the associated expenses and liabilities. ( Note: Round to nearest penny.) 2. What is the employees' gross pay? What amount does Blitzen pay in excess of gross pay as a result of taxes? ( Note: Provide both an absolute dollar amount and as a percentage of gross pay, rounding to two decimal places.) 3. How much is the employees' net pay as a percentage of total payroll related expenses? ( Note: Round answer to two decimal places.) 4. CONCEPTUAL CONNECTION If another employee can be hired for $60,000 per year, what would be the total cost of this employee to Blitzen?
CALCULATION OF TAXABLE EARNINGS AND EMPLOYER PAYROLL TAXES AND PREPARATION OF JOURNAL ENTRY Selected information from the payroll register of Joanies Boutique for the week ended September 14, 20--, is as follows. Social Security tax is 6.2% on the first 118,500 of earnings for each employee. Medicare tax is 1.45% of gross earnings. FUTA tax is 0.6% and SUTA tax is 5.4% on the first 7,000 of earnings. Calculate the amount of taxable earnings for unemployment. Social Security, and Medicare taxes, and prepare the journal entry to record the employers payroll taxes as of September 14, 20--.

Recommended textbooks for you

Principles of Accounting Volume 1

Accounting

ISBN:

9781947172685

Author:

OpenStax

Publisher:

OpenStax College

College Accounting, Chapters 1-27

Accounting

ISBN:

9781337794756

Author:

HEINTZ, James A.

Publisher:

Cengage Learning,

Century 21 Accounting General Journal

Accounting

ISBN:

9781337680059

Author:

Gilbertson

Publisher:

Cengage

Principles of Accounting Volume 1

Accounting

ISBN:

9781947172685

Author:

OpenStax

Publisher:

OpenStax College

College Accounting, Chapters 1-27

Accounting

ISBN:

9781337794756

Author:

HEINTZ, James A.

Publisher:

Cengage Learning,

Century 21 Accounting General Journal

Accounting

ISBN:

9781337680059

Author:

Gilbertson

Publisher:

Cengage

Century 21 Accounting Multicolumn Journal

Accounting

ISBN:

9781337679503

Author:

Gilbertson

Publisher:

Cengage

Cornerstones of Financial Accounting

Accounting

ISBN:

9781337690881

Author:

Jay Rich, Jeff Jones

Publisher:

Cengage Learning

College Accounting (Book Only): A Career Approach

Accounting

ISBN:

9781305084087

Author:

Cathy J. Scott

Publisher:

Cengage Learning

SEE MORE TEXTBOOKS

Question 6: Match each pay-related term with its definition. Pay period Annual pay amount DROP HERE Wage Pay rate typically paid on an hourly basis DROP HERE Workweek Can be any given, consistent seven days DROP HERE Salary Schedule the employer follows for paying employees DROP HERE