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ral unemployment tax l Security tax care tax ral income tax

Century 21 Accounting General Journal
Century 21 Accounting General Journal
11th Edition
ISBN:9781337680059
Author:Gilbertson
Publisher:Gilbertson
Chapter13: Accounting For Payroll And Payroll Taxes
Section13.3: Reporting Withholding And Payroll Taxes
Problem 1WT
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Question 9: What is NOT a portion of an employer's payroll tax expense? Answer: A. O Federal unemployment tax B. O Social Security tax C. O Medicare tax D. O Federal income tax Question 10: Match each act with the year it was passed into law. 1996 Personal Responsibility and Work Opportunity Reconciliation 1938 Immigration Reform and Control Fair Labor Standards 1986 Question 3: A flexible spending account is a common type of Answer: A. O cafeteria plan B. O medical plan C. O retirement plan D. O mandatory deduction Question 33: Match each incentive plan to its definition. Profit-sharing Employee receives a portion of the company's profits after exceeding a predetermined level DROP HERE Stock options Employee may purchase shares of the business after meeting predetermined goals DROP HERE Sabbaticals Paid leave after working a predetermined number of years DROP HERE Cash incentives Monies received for reaching specific sales/production goal DROP HERE Question 34: Rachel is a server at a family restaurant in Omaha, NE. As a tipped employee, she receives an hourly wage that is less than the federal minimum wage. This week, her combined hourly wages and tips was less than the federal minimum wage. What happens next? Answer: A. O Rachel's employer pays her additional wages to compensate for the deficit. B. O Additional pooled tips must be allocated to Rachel to compensate for the deficit. C. O This circumstance is acceptable, so no action is necessary. D. O Her employer may be required to pay her additional wages, depending on her total earnings in subsequent weeks. Question 35: Match each mandatory deduction with its description. Federal income tax Health insurance for individuals 65 and older or with certain disabilities DROP HERE Local income tax To fund governmental operations in a municipality DROP HERE Medicare tax Provides benefits to temporarily disabled employees DROP HERE State disability insurance Used by a wide range of governmental agencies DROP HERE 。。 Question 2: How is self-employment income calculated? Answer: A. O Self-employment income = Revenue B. O Self-employment income = Revenue + Expenses O Self-employment income = Revenue - Expenses O Self-employment income = Expenses D. DROP HERE DROP HERE DROP HERE :ooo 이
Transcribed Image Text:Question 9: What is NOT a portion of an employer's payroll tax expense? Answer: A. O Federal unemployment tax B. O Social Security tax C. O Medicare tax D. O Federal income tax Question 10: Match each act with the year it was passed into law. 1996 Personal Responsibility and Work Opportunity Reconciliation 1938 Immigration Reform and Control Fair Labor Standards 1986 Question 3: A flexible spending account is a common type of Answer: A. O cafeteria plan B. O medical plan C. O retirement plan D. O mandatory deduction Question 33: Match each incentive plan to its definition. Profit-sharing Employee receives a portion of the company's profits after exceeding a predetermined level DROP HERE Stock options Employee may purchase shares of the business after meeting predetermined goals DROP HERE Sabbaticals Paid leave after working a predetermined number of years DROP HERE Cash incentives Monies received for reaching specific sales/production goal DROP HERE Question 34: Rachel is a server at a family restaurant in Omaha, NE. As a tipped employee, she receives an hourly wage that is less than the federal minimum wage. This week, her combined hourly wages and tips was less than the federal minimum wage. What happens next? Answer: A. O Rachel's employer pays her additional wages to compensate for the deficit. B. O Additional pooled tips must be allocated to Rachel to compensate for the deficit. C. O This circumstance is acceptable, so no action is necessary. D. O Her employer may be required to pay her additional wages, depending on her total earnings in subsequent weeks. Question 35: Match each mandatory deduction with its description. Federal income tax Health insurance for individuals 65 and older or with certain disabilities DROP HERE Local income tax To fund governmental operations in a municipality DROP HERE Medicare tax Provides benefits to temporarily disabled employees DROP HERE State disability insurance Used by a wide range of governmental agencies DROP HERE 。。 Question 2: How is self-employment income calculated? Answer: A. O Self-employment income = Revenue B. O Self-employment income = Revenue + Expenses O Self-employment income = Revenue - Expenses O Self-employment income = Expenses D. DROP HERE DROP HERE DROP HERE :ooo 이
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