To match revenues and expenses properly, should the expense for employee vacation pay be recorded in the period during which the vacation privilege isearned or during the period in which the vacation is taken? Discuss.

Q: Determine the employee benefit expense for the current year, remeasurement related to the defined…

A: A journal entry is a form of accounting entry that is used to report a business transaction in a…

Q: The payroll register includes sections for​ recording:

A:

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

A: Cash basis of accounting :- It is an accounting method in which record of revenues / expenditures…

Q: Payroll Accounting under FUTA, what conditions must be met for a person or business to be…

A: Because you have posted multiple question we will answer the first question only and for thr…

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

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

Q: If an employee has paid $34.21 in employment insurance, what is the amount payable on a journal…

A: Employment insurance refers to the benefits that are given to the workers in an organization who…

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: 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: Rent payments that are processed through a third-party net work after March 11, 2021, should be…

A: GIVEN   Rent payment that are proceed through a 3rd party network after March 11,2021 should be…

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: 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: Should employee vacation pay be recorded in the period during which the vacation privilege is earned…

A: Vacation is the period provided to the employee by the company. And the associated privileges are…

Q: Expenditure incurred by an employee in performing their employment may be deductible under s 8-1.…

A: According to the section 8-1, all the expenditure related to the employment might be deductible.

Q: Which payroll tax is levied on both employers and employees? Both employees and employers are…

A: The payroll tax is required to be remitted to the government on the behalf of employee and is…

Q: Why are deductions made by an employer from the employees' earnings/pay classified as liabilities to…

A: AN EMPLOYER HAS THE RIGHT TO MAKE DEDUCTION'S FROM EMPLOYEE'S EARNINGS OR PAY . THESE DEDUCTIONS CAN…

Q: Employees are subject to taxes withheld from their paychecks.a. List the federal taxes withheld from…

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

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: Independently considering each of the following statements regarding Form W-2 (Wage and Tax…

A: The employer makes deductions from the employee’s salary and therefore there is some legal…

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: 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: 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: 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: 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: Describe the types of application control used for the following data in a payroll system.a.…

A: Payroll system:

Q: A record of employment must be issued when an employee with a regular work schedule is expecled to…

A: In the Given case scenario,  This statement is false: A record of employment must be issued when an…

Q: Under IAS 19 on Employee Benefits, which of the following terms best describes other long-term…

A: Explanation : The Long-term employee benefits, which are the employee benefits (other than the post…

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: Payroll tax expense related to this employee will be:

A: Income tax refers to the amount paid by an individual or company to the government for financing the…

Q: An employer must always use a calendar year for payroll purposes. Agree or disagree and explain your…

A: Payroll refers to the amount of salaries or compensation paid to employees by the firm. It includes…

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: 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: To calculate the debit to payroll tax expense in recording the employer's payroll taxes the…

A: Employer payroll taxes means those tax expenses that are incurred by employer on behalf of employees…

Q: Which of the following items is exempt from including into the assessable income for salaries tax…

A: Correct option is D.  End of contract gratuities     Explanation:

Q: Salary of employee [ Choose] Payment/Fee of tax [ Choose ] consultant service for assisting in tax…

A: As per our protocol we provide solution to one question only or up to three sub-parts only but you…

Q: To match revenues and expenses properly, should the expense for employee vacation pay be recorded in…

A:

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

A: Master file: The master file provides a permanent record of items and entries. For example, Customer…

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

A:

Q: 1. Record the entries for the payment of payroll and the employer's payroll tax expense in the…

A: Payroll tax expense = 67.69+15.82+74.00+21.84 = 179.35 Total Deductions includes Union dues of 10.80…

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