Should employee vacation pay be recorded in the period during which the vacation privilege is earned or during the period in which the vacation is taken? Use and discuss accounting principles to support your answer.

Q: How to determine the estimated net cost of benefits to the employer?

A: In an organizational setting, when business activities are carried out it results in some benefits…

Q: A new employer will be assigned a SUTA contribution rate: a.  will be different for all new…

A: The correct answer is Option (d).

Q: Identify two different types of deductions that an employer is required to subtract from a

A: There are several deductions from paycheck but two are absolutely necessary other are optional.

Q: Which of the following is paid by both the employer and the employee? Group of answer choices Social…

A: Payroll tax: Payroll taxes refer to the taxes which are equally contributed by employees and…

Q: 2-Under the FLSA , what information concerning employees ' wages earned must be maintained by the…

A: Payroll Register: Payroll register is a schedule maintained by the company to record the earnings,…

Q: How should an employer's commitment for employee benefits be calculated, according to AASB 119

A: Definition: In the context of employee benefits, this refers to all types of consideration offered…

Q: What is an employer’s unemployment merit rating? How are these ratings assigned to employers?

A: Human resource management is a concept to help the organization to evaluate the performance of each…

Q: How does the pay-as-you-go procedure apply to wage earners? To persons who have income from sources…

A: A tax is a payment levied by the order of Federal, state, or local government agencies and collected…

Q: Use examples to support your answer above. (What kind of expenses is allowable for Self-employed)

A: A self employed person is the person who is working on their own means he or she is the boss of…

Q: Define Employee discounts.

A: Discount:   It is a portion of money that is deducted from the selling price of a product or a…

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: In order to prepare Forms W-2, an employer would utilize the employee's earnings record. O True O…

A: form w2 is also known as and tax statement is a document that employer is required to send to each…

Q: posit for their pay. C. The fringe benefit must be subject to income tax. D. The amount of the…

A: 1  The right answer is D. The amount of the deduction must be listed on the employee's pay advice. 2…

Q: True or false. Reporting the deduction for employers reimbursed travel expenses on schedule C is the…

A: The non accountable plan is the reimbursement plan that does not meet all the criteria set for…

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: An experience rating, or merit rating a.  directly adjusts the benefit amount the unemployed…

A: The correct answer is option (c).

Q: How is the unemployment merit rating assigned to employers?

A: Unemployment refers to the situation when a person is eligible for employment but he fails to get…

Q: These are compensated or paid absences that are carried forward and can be used in future periods…

A: Compensated absences are the leaves and absents of the employees that are being compensated or paid…

Q: salary to an employee just hired b. Setting up of chart of accounts c. Payment of rent in advance

A: The correct answer is  b). Setting up of chart of accounts

Q: Question 1 For each of the following records, indicate the appropriate related file structure:…

A: Following is the answer to given question

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: Do workers compensations statutes apply to seasonal or temporary workers? Explain

A: Definition: Worker’s compensation scheme: Worker’s compensation scheme is an arrangement that…

Q: What is an employer’s unemployment merit rating

A: Merit rating is a rating or a score given to the employer on the basis of the stability in…

Q: The vested benefits are employee benefits that are not conditional on future employment. benefits…

A: Solution: The vested benefits are "employee benefits that are not conditional on future employment."…

Q: a. What amount of income should be reported for the current year if the percentage of completion…

A: Formula: Revenue Recognized=  Cost Incurred to DateEstimated Total Cost×Contract Price-Revenue…

Q: Determine the total employee withholdings

A:

Q: substituted Filing of Tax Return is applicable

A: First option is wrong because the substituted filing of tax return is available to the employee who…

Q: How is self-employment income treated differently than income earned when you work

A: Taxable income: Taxable income can be defined as income derived after adjustment of necessary…

Q: When would it be considered that income has arisen in relation to employee benefits?

A: The benefits or perks that are being offered to and given to the employees in addition to their…

Q: What is salaries payable an equity, revenue, expense account, liability or expense?

A: Balance Sheet - Balance Sheet is combination of assets, liabilities and equity. It is prepared at…

Q: Record the emplovee salary expense, withholdings, and salaries pavable.

A: Particulars…

Q: One of the staff members asks you to explain the difference between the terms gross and net on the…

A: An employee gets compensated for the service by the employer. The employee receives a basic salary,…

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: What steps must an employer follow in sequential form to calculate an employee's income tax…

A: Deductions refer to the amounts which are deducted from the gross income of the taxpayer. These…

Q: Explain with examples the following: (a) Residence rule (b) Source rule (c) Relief for medical…

A: (a) Residence rule  Post-marital residence rules specify where a person resides after marriage and,…

Q: Which of the following amounts paid by an employer to an employee is not subject to withholding? Oa.…

A: Given : Multiple options  a) Salary  b) Travel expense reimbursements from an accountable plan c)…

Q: The employment income of an individual is reported on ________ slip, while investment income are…

A: Investment income is money received in interest payments, dividends, capital gains realized with the…

Q: Accrued salaries are Salaries that have been neither earned by employees nor paid. Salaries that…

A: "Since you have asked multiple questions, we will solve first question for you. If you want any…

Q: What is the difference between Wages Payable and Wages Expense? What statement do they appear on?…

A:

Q: a. O'Brien's disposable earnings b. The amount of her pay subject to the garnishment

A:

Q: True or False: You are employed. The Income tax on your salary is required to be paid at the Mayor’s…

A: False ÷ income tax on salary income are not required to be paid to Mayor's office.