What is the source of data used to:  a. Record the distribution of the payroll. b. Record the employer's payroll taxes.

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: how is "gross earnings" of $1021.01 derived?

A: Piece rate earnings means wages on the basis of pieces produced.

Q: what are payroll deductions

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

Q: In order to confirm the previous clerk's payroll calculations, you have been asked to supply the…

A: Payroll taxes are the taxes paid on the wages and salaries of employees. It is the taxes withheld by…

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: For each of the listed payroll-related taxes, indicate whether they generally apply to employees…

A: Payroll taxes are taxes paid to Internal Revenue Service (IRS) and withheld, charged or levied on…

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: If an employee’s income is reported based on the total amount received in a year, what basis is the…

A: Taxation - Employees get taxed on the income they earned after deducting exemptions and deductions.

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: For each of the following payroll-related taxes, indicate whether they generally apply to (a)…

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

Q: Which of the following is NOT included in the payroll register?  Select one: Assignment of the…

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

Q: The employer is responsible for which of the following payroll taxes? a. 6.2% FICA—OASDI tax b.…

A: Payroll taxes: Payroll taxes are the taxes withheld by the employers from the wages/salary payable…

Q: What is included in the journal entry to record the employer amount of the payroll? Assume gross…

A: Solution- Payroll journal entries are used to record the compensation paid to employees. These…

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: Where can authoritative IFRS related to the accounting for taxes be found?

A: Accounting changes include the change in methods or ways of accounting by the company, which will…

Q: Explain why an employer’s “total cost” of a payroll mayexceed by a substantial amount the total…

A: The wages and salaries are the amount that is agreed on between the employer and employee through an…

Q: Wage and tax statatement data employer FICA Tax

A: We have the following information: Social Security Tax - 6%Medicare Tax - 1.5%

Q: Employers are required to keep records of all of the following except:  Select one: Personal data…

A: Employer should maintain all the data related to there business activities which helps during the…

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: Why are deductions from employees’ earnings classified as liabilities for the employer?

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

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: 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: Why are payroll taxes and sales taxes consideredliabilities?

A:

Q: Describe the presentation of deferred income taxes in financial statements.

A: Deferred tax asset: The deferred tax asset is the excess, overpaid, or paid in advance expenses.…

Q: Compute the FICA taxes for each employee and the employer's FICA taxes. Round all computations to…

A: Under federal law, employers are required to deduct 6.2% of employees wages as his or her OASDI/EE…

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: Why is it critical for employers to properly arrange their employees' taxes

A: Introduction :  Withholding taxes are collected and sent to the Internal Revenue Service (IRS) by…

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: 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: 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: total deductions on payroll register

A: Deductions are subtracted from total earned pay.

Q: What information is necessary to record payroll transactions? Which account is used to record an…

A: A payroll is set of information which entails the various monetary benefits that employees draw from…

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: What are the two basic requirements applied to the measurement of current and deferred income taxes…

A:

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: Which of the following taxes is both an employee and an employer tax?a.  federal income tax.b.…

A: The correct answer is Option (d).

Q: Payroll Accounting What information appears on the payroll register? What records are needed for an…

A: Payroll Accounting: Information that appears on the Payroll register: Payroll register is basically…

Q: Recording employee payroll deductions may involve:

A: Payroll deductions are amount deducted from the salary of employees towards taxes or other duties…

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…