Recording employee payroll deductions may involve:

Q: Performs an analysis of the rules and laws that regulate mandatory discounts and payments that…

A: Payroll Rules: According to the FLSA, people who are subject to its provisions must maintain…

Q: What is the maximum contribution that an employer can make to an employee’s SIMPLE account?

A: A SIMPLE IRA (Savings Incentive Match Plan for Workers) plan enables employees as well as employers…

Q: Record payroll for period.

A: Payroll is the list of amount due to each employee in return of services rendered by them. The net…

Q: what are payroll deductions

A: Payroll deductions are the amounts which are mandatorily or voluntarily deducted by the employer…

Q: The department responsible for approving pay rate changes is a. payroll b. treasurer c. personnel d.…

A: Correct Option is “c”: Personnel. Personnel Department: This department is responsible for the…

Q: Why is it important for payroll accounting purposes to distinguish between an employee and an…

A: Employees can be defined as one who works for an employer or company that controls his work and…

Q: What is the term for the employer's mandatory payroll taxes that the government has written into…

A: A payroll tax is a percentage withheld from an employee's pay by an employer who pays it to the…

Q: can you help me how to Explain how an employer can receive a credit against the FUTA tax due.

A: FUTA stands for Federal Unemployment Tax Act under federal law of US. FUTA tax is paid by the…

Q: Explain how a Bonus arrangement can be used to defer the taxes paid by an employer?

A: Deferral of tax refers to the postponing the tax payment to the next period. In other words, when…

Q: Which of the following methods of payroll calculation offers minimum wage standards and overtime…

A: Hourly Rate of Pay:- This method helps in calculating the payroll amount of an employee on an hourly…

Q: Please answer this correctly. Thank you:) 1. Describe the two economic events that occur for…

A: Payroll is the compensation an employer pay to its employees for a set period or on a given date.

Q: Which payroll tax is imposed on both the employee and the employer? a. federal income tax b.…

A: Payroll taxes are levied on salaries and self-employment income by the federal government, and the…

Q: How do I account for an advance to an employee and the resulting deduction?

A: An advance to employee means to pay the salary or money to such employee before the due date.

Q: When recording payroll tax expense, employers will generally include which of the following…

A: Gross pay of an employee is to be deducted for several taxes and then those taxes are the liability…

Q: The deparment that should pay the payroll is the: a. payroll deparment b. human resources…

A: Each business organization categorized their operations into different departments for example…

Q: Describe the costs and the basic accounting activities relating to payrolls?

A: Finance bookkeeping is basically the estimation, the executives, recording, and examination of…

Q: Which of the following is not an employer payroll tax?

A: Federal income tax is the liability of the employee to pay tax on the income and is deductible from…

Q: at is the proper way to record an advance to an employee as well as

A: A salary advance is nothing more than a loan that you can give to an employee. The advance is…

Q: What taxes are recorded when recording Payroll Tax Expense?

A: FICA, OASDI and FICA Medicare taxes are the combination of payroll tax expense of the organisation.

Q: Which of the following type of information is not provided on a payroll register? a.regular rate of…

A: Payroll register: Payroll register is a form that is used by an employer to gather information on…

Q: Identify the major payroll tax forms and describe the purpose of each.

A: Payroll tax refers to the percentage which is withheld from the pay or salaries of the employee…

Q: Provide the journal entry for the period's payroll. If an amount box does not require an entry,…

A: Payroll:   The total payment that a company is required to pay to its employee for the services…

Q: What problems might create from payroll tax deferral?

A: Highlights of the payroll tax deferral scheme:- It applies to all those employees whose before tax…

Q: Which department authorizes changes in employee pay rates?

A: Employee Pay Rate:  Employee pay rate is the amount which is given to the employee against the work…

Q: Which duties should be separated in the payroll cycle?

A: Payroll System:   A payroll system is a system within an organization that is responsible for…

Q: Determine the total employee withholdings

A:

Q: What special accounts must usually be opened in the general ledger to record payroll tax entries?…

A: Lets understand the basics. Journal entry is required to make to record financial event or…

Q: Swenson Company has the following payroll procedures.Identify the payroll function to which each…

A: Payroll function format is not proper, Answer is posted with some understanding.

Q: What are the Payroll-related deductions?

A: Payroll: Payroll refers to the total amount that is required to be paid by the company to its…

Q: e any examples of payroll deductions and describe them?

A:

Q: What is the amount of the debit to Payroll Taxes?

A: What is the amount of the debit to Payroll Taxes?   A payroll tax expense account is the holding…

Q: Employees are subject to taxes withheld from their paychecks.  Please indicate the federal taxes…

A: Payroll tax: This is the tax which is withheld by an employer from the pay of the employee and…

Q: Please explain the tax implications of compensation in the form of salary and wages from the…

A: SOLUTION COMPENSATION IN THE FORM OF SALARY AND WAGES : COMPENSATION REFER TO THE CASH PRIZES THAT…

Q: total deductions on payroll register

A: Deductions are subtracted from total earned pay.

Q: Under what conditions should an employer accrue an expense and the related liability for employees’…

A: Accrued Liabilities: Accrued liabilities are those expenses that are incurred but not yet paid.

Q: The amount of federal income tax to be withheld from employee's paychecks can be calculated by

A: Federal income tax: It is a tax levied by the IRS on the annual income of the taxpayers such as…

Q: Define the term payroll taxes.

A: Payroll accounting:   The process of payroll accounting includes the computation and payment of…

Q: How are the electronic tax deposits transferred from the employer’s account to the IRS?

A: The employer is having two options for transferring the electronic tax deposit to the internal…

Q: List the required employee payroll withholding deductions, and provide the tax rate for each.

A: Payroll withholding deduction: The amounts which the employer withheld from employees’ gross pay to…

Q: When an organization makes payment to the government for payroll taxes, the payment is journalized…

A: Payroll taxes are the taxes that are paid by the employers as well as employees on the basis of the…

Q: What happens to the money withheld from employees' paychecks by their employers?

A: The withheld money from the employees paycheck will be deposited as tax to the government officials…

Q: what are the rules for calculating taxes if an employee has more than one employer?

A: Following are the rules for calculating taxes if an employee has more than one employer

Q: 1. Journalize the entry to record the payroll. 2. Journalize the entry to record the employer's…

A: Payroll Payroll is considered to be one of the important segment in the entity and to distribute…