In a payroll system, what types of input data are referred to as (a) constants and (b) variables?

Q: Customer payments received in advance of the product or service being provided is recorded in which…

A: The company can collect advance from the customer before sale of the goods. This method of…

Q: Describe the Accounting Processing Cycle.

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: How to calculate FIT on payroll register? What is the equation or numbers I am supposed to use to…

A: Before calculating payroll taxes, the employees will need to complete these new employee documents,…

Q: Sales receipts, purchase orders, and payroll records are all examples of accounting transactions…

A: Book keeper is the employee of the company who is responsible to record the original transactions…

Q: Explain audit for payroll

A: Transaction in statement  of profit and loss is been audited by performing substantive analytical…

Q: Explain the accounting processing cycle.

A:

Q: Describe the steps in accounting processing cycle.

A: The accounting cycle is the holistic process of recording and processing all financial transactions…

Q: In quickbooks, What is the process for setting up the payroll system?

A: QuickBooks: QuickBooks are accounting software that provides various types of tools to manage your…

Q: Which entity is most likely to be part of both the payroll cycle Pand the expenditure cycle اختواحد…

A: Cash disbursement represents the distribution of cash from one party to another. It is the cash…

Q: The subsidiary ledger that includes customer account activity is called the a. asset ledger b.…

A: Under subsidiary ledger, all activities related to customer is recorded.

Q: Describe the uses of payroll register in business.

A:

Q: Define the term payroll register.

A:

Q: Design and perform tests ofdetails of balances for accounts inthe payroll and personnel cycle.

A: Step 1 Identification of transactions and accounts in personnel and payroll cycle.   Initially, the…

Q: How do companies account for and record payroll, and what journal entries do they use ?

A: Payroll Accounting is the branch study of accountancy in which the transactions related to payroll…

Q: What purpose is served by the output devices of an accounting system?

A: Output devices: Output devices help in taking the information out of the system and provide it to…

Q: Describe the responsibilities of an accounts payables specialist.

A: Accounts payable specialists ensures vendors get paid for services and products rendered. They play…

Q: purchase discount is relevant into the followings cycles: a. payroll and personnel O b. sales and…

A: Accounting is essential to operating a company since it allows businesses to track income and…

Q: How do you define an accounting information system and what are its components? Give an example.

A: Introduction: The journal book will have a chronological record of all transactions in the…

Q: Explain an example of accounting process cycle.

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: hich of the following is managed by an accounting department's dministrator? O A. bills and expense…

A: Accounting department refers to the corporate overhead group part of the firm and this department is…

Q: Which of the following events would be LEAST likely to be modeled in an REA diagram?a. customer…

A: Definition: REA model: The graphical representation which shows the re-engineered accounting system…

Q: WHAT ARE THE MAIN DOCUMENTS USED FOR PAYDAYLOAN ?

A: A payday loan is a high-cost unsecured loan that can be availed at the time of a short-term…

Q: Are purchasing and receiving functions separate from invoiceprocessing, accounts payable, and…

A: Invoice processing: It is a procedure to maintain the invoices of the organisation to ensure timely…

Q: What are the two main controls for payroll? Provide an example of each.

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

Q: Define in detail the basic activities performed in the revenue cycle along with its key decisions…

A: Revenue cycle refers to the method which compiles the sets of business activities used for defining…

Q: What are the payroll system's general tasks?

A: Payroll is the amount paid by business to the employees in the form of compensation for the given…

Q: Describe the payroll cycle including risks,source documents, and controls (Appendix 8C).

A: Payroll is often processed by service bureaus, balance sheet accounts usually small and rely on the…

Q: How do you find and calculate FICA-Med on a payroll register?

A: FICA represents the tax amount charged on the paycheck of the employee for social security (SS) and…

Q: What functional responsibilities are associated with the payroll cycle?

A: Payroll Cycle: The payroll cycle is commenced with the hiring and dismissal of an employee along…

Q: Describe the cost and basic accounting activities related to payroll ?

A: Payroll accounting is just recording the payroll expenses of a business into the final ledger.

Q: How might a business use a payroll register?

A: Definition:   Payroll register: A schedule that is maintained by the company to record the earnings,…

Q: Account balances for payroll and personnel accounts are designed and tested.

A: Introduction: Identification of transactions and accounts in personnel and payroll cycle. Initially,…

Q: Which function should distribute paychecks?a. personnelb. timekeepingc. paymasterd. payroll

A:

Q: Describe the costs and the basic accounting activities relationg to payroll

A: Payroll:- Payrolll may be a list of workers who get paid by the corporate. Payroll also refers to…

Q: ayroll records serve as backup for

A: Payroll refers to the desired dum of money a company or an employer pays to its employees for the…

Q: Are any time lags in recording economic events typically experienced in payroll systems? If so, what…

A:

Q: Make the journal entry (debit and credits) for recording the payroll.

A: Payroll accounting is known as the recording of all the payroll transactions in the books of the…

Q: The payroll information for a pay period is recorded in the general ledger.   True   False

A: General ledger means the ledger where all the information of business is kept like account…

Q: Preparing the Payroll Register

A: Chris German has worked more than 40 hours, so his hourly rate for 1 hour overtime is 1.5 times…

Q: Discuss the difference between the financial reporting system and general ledger system.

A: A general ledger, or GL, is a system for recording all of a company's financial transactions.…

Q: hat is the essentiality of knowing the com

A: Introduction : Payroll can be understood as the remuneration that a company must pay to its workers…

Q: How do you find and calculate FUTA and SUTA on payroll register?

A: Solution-   Lets take a example- Question- Merger company has 10 employees  each of whom earns $2000…

Q: What are the key activities and the logical tasks, sources and uses of information, and movement of…

A: The spending or the expenditure cycle also known as the buy and pay cycle, invoices all processes…

Q: Discuss what is meant by the statement, “The accounting system is a conceptual flow of…

A: Accounting Information system is a set of components used for gathering, making, storing, preparing,…