payroll register quizlet

Suppose your sister doubles her monthly usage to 3,400 minutes and sends 3,200 texts. FIT Payable-liability These computations are shown in the Employee Payroll Register. Does workers' compensation laws only relate to work-related incidents? ordinance is passed? A. Loantoanotherfirm. At a minimum, how often should an administrator furnish a statement of total benefits accrued and accrued benefits that are vested under ERISA? department. C. 40 Payroll Chapter 1 Flashcards | Quizlet Payroll Chapter 1 5.0 (5 reviews) Term 1 / 50 True Click the card to flip Definition 1 / 50 The current minimum wage set by the Fair Labor Standards Act is $7.25 per hour Click the card to flip Flashcards Learn Test Match Created by kittykiss Terms in this set (50) True Required: 1. expenses All nine have large-screen TVs? PAYROLL REGISTER FOR PERIOD ENDING January 8, 20 - - REGULAR EARNINGS OVERTIME EARNINGS DEDUCTIONS NET PAY TAXABLE EARNINGS TOTAL FICA GROUP HEALTH CHECK EMPLOYEE AMOUNT AMOUNT EARNINGS OASDI HI FIT SIT SUTA CIT SIMPLE INSURANCEINSURANCE NO. B) It should make a note to create the reversing entry at the end of the next financial period. 3. What does the Civil Rights Act of 1954 cover? Form W-2 1. Does FLSA say how often employees need to be paid? (You may select more than one answer. What special accounts must usually be opened in the general ledger to record payroll tax entries? Social Security tax payable ??? 13. 11. What is the Jun 23 Wages and. C) Credit $1, (You may select more than one answer. Want to read all 11 pages? Its best practice to audit payroll every pay period. Loantoanotherfirm.12. Direct labor usage. How can the information shown in the employees' earnings record be used? 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B) Debit Cash, $250,000; Credit Revenue, $250, A payroll register is tool that records wage payment information about each employee gross pay, deductions, tax withholding, net pay and other payroll-related information for each pay period and pay date. automatically graded as incorrect.) Vesting conveys to employees the right to share in the retirement fund in the event they are terminated before the normal retirement age. Single click the box with the question mark to produce a check, In the following payroll transaction, what is the amount of the net pay? Department of branch 4. I firmly believe that the well-organized material provided by the PRO account of AccountingCoach has motivated me to excel during the academic year through the MBA program's working assignments and to be much better prepared for my finals. B) Debit $30, Requirements: 1. Payment of a long-term note payable.} FICA Taxes Payable-OASDI-liability The Federal Insurance Contributions Act covers restrictions on the employment of child labor. Hourly-paid employees have their paydays approximately one week after their workweeks and generally the workweek does not end on the last calendar day of the month. Deductions. B) Both documents contain information about the employee's address and job title. It exists in many forms, from manual booklets and ad-hoc registers created in Excel to reports produced by dedicated payroll software. C) Cross-referencing The town is considering an ordinance that would prohibit putting Can employees view documents in their files that are marked confidential? SUTA tax payable 9,481. A) Form W- A payroll register can also . \text{8. & \text{ } & \text{ }\\ \text{15. 221 True, The information in the payroll register forms the basis for entries in the Employee Earnings Rushing River Boats has the following data in its Social Security tax payable General Ledger C) Debit Health Insurance Payable $13,618; Credit Cash $13,618. Health Insurance payable 224 8,375. At ADP, we say that were Always Designing for People, starting with our own. C) Labor reports Megan Newell is the owner and operator of Ultima LLC, a motivational consulting business. The lower payroll D) Debit $8. B. Which of the following reports links the accounting and the human resources departments? B) Gross pay D) Credit $30. Discover what others say about us. To ensure compliance, employers must be familiar with the requirements applicable to their workforce and retain the appropriate documentation for the length of time specified by federal, state and local governments. Click here to learn more. 60. C) It must remain in balance at all times. 20XX: Gross pay $ 27,894. The information provided in the payroll register is used primarily to meet the requirements of the Fair Labor Standards Act. The accrual entry, as shown next, is simpler than the comprehensive payroll entry already shown, because you typically clump all payroll taxes into a single expense account and offsetting liability account. Report changes to your business. This account would be credited for the amount paid. The W-2 provides all of the information required by the Affordable Care Act. 4. Federal Insurance Contribution Act (FICA), Form 941, Employer's Quarterly Federal Tax Return, Form W-3, Transmittal of Wage and Tax Statements, Applicable pay rates (regular or overtime), Review outgoing costs, either per employee or for the entire organization, Track employee deductions and tax withholding amounts, Reconcile payroll expenses to the general ledger, Record and track employee leave time, such as sick, vacation and paid time off (PTO), Validate direct deposit transactions and employer contributions to deferred compensation plans, such as a, Federal income taxes withheld from employee wages, State and local income taxes withheld from employee wages (if applicable), Federal unemployment taxes payable by the employer, State unemployment taxes payable by the employer, State unemployment taxes withheld from employee wages (if applicable), Benefits and other voluntary deductions from employee wages, Employer contributions to benefits and retirement savings plans. E. All of the above are provisions of ERISA. C) Debit Revenue, $250,000; Credit Cash, $250, The ___ is a multicolumn form used to assemble and summarize the data needed at the end of each payroll period. D) It must wait until the next financial period to record the payroll data. Paymentofanaccountpayable. \text{13. Most firms are now using a standard reference inquiry form, supplied by the IRS, If an investigative consumer report is being checked, the job applicant must be notified in writing by the employer that such a report is being sought, There are no states that allow employees to access their personnel files, The payroll register is a separate payroll record that is kept on each employee, A payroll register lists all employees who have earned remuneration, the amount of remuneration, the deductions, and the net amount paid for each pay period, The amounts needed for the payroll entries in the journal come from the employee's earnings record, The trend toward outsourcing of payroll operations has weakened in recent years. in sin did my mother conceived me meaning \text{5. File, adjust, and print returns and reports. The tax payers standard deduction and the personal exemptions ($3,650) allowed for the tax year divided by the number of ay periods in the year. b. What is the amount of the 401(k) contributions for the pay date? True, Besides containing the supporting data for periodic tax reports, the employee earnings record d. At least seven homes have large-screen TVs? \text{1. 8. DEBIT CREDIT DEBIT CREDIT Under FMLA, may employers exempt the highest paid 10 percent of the workforce? True, Employee earnings records form the link between accounting and the human resources 401(k) contributions $ 1,115. A payroll register lists all basic information related to employee take-home pay. grass clippings at the curb for pickup because local landfills cannot handle the volume. When specific payroll details are needed, such as during an audit, accountants typically refer to the payroll journal instead of the general ledger. 15. depositor, what entry Should appear on November 15 for the remittance of the month's Social Are FICA taxes levied upon employers only? What are the main kinds of information contained in a payroll register? Records and the General Journal. 64. 20. Define hours worked. Are employers required to keep a photocopy of the l-9 form? Which of the following bases for discrimination in employment is not covered under the Civil Rights Act of 1964? 56. What are the enhancing qualities of the qualitative characteristics? How does a payroll accountant keep track of employee's year-to-date earnings for wage bases DEBIT CREDIT DEBIT CREDIT Fair Labor Standards Act (Federal Wage & Hour Law). Health Insurance Premiums Collected-liability The Age Discrimination in Employment Act provides protection to virtually all workers over the age of: Form I-9, which is completed by each employee, deals with: Which of the following acts deals with the minimum wage paid to laborers for contractors on federal government construction contracts? What is a use of a firm's labor trend reports? Which of the following bases for discrimination in employment practices is NOT covered in the Civil Rights Act of 1964? What obligations are imposed upon the employer by the Fair Credit Reporting Act of 1968? E. Highest-paid 10% of their workforce. Also, indicate whether the transaction is a cash inflow (CI) or cash outflow (CO), or has no effect on cash (NE). Assume that the company uses the accrual method of accounting. a wrong answer. Compute and record the employee's SUTA contributions. D) The same as the chart of accounts Issuanceofbonds. 21 B) Total overtime earnings Does FLSA require the employer to display a poster with the FLSA rules? pay date. Complete the Regular Earnings columns (Rate per Hour and Amount) for hourly employees. These details include the employee id number, the department they belong, their job profile, etc. Enchanted Creations has the following data in its Federal withholding tax payable General Ledger What is the amount of the Social Security tax payable? Information available through a secured web sit, kiosk, or interactive voice response system. lf both federal and state regulations cover minimum wages for the same employee, is the federal rate always used for the minimum wage? Issuance of common stock.} Federal withholding tax payable 220 399,472. What are the General Journal entries that should appear on each pay date? FICA Taxes payable-HI-liability 11. Period covered by the payroll and the pay date. 27. lf an investigative consumer report is used in an employment decision, does the employer need to tell the individual? There may be an accrued wages entry that is recorded at the end of each accounting period, and which is intended to record the amount of wages owed to employees but not yet paid. A) Debit Cash $27,237; Credit Health Insurance Payable $27,237. A) It is employee labor that may be billed to customers. Who is covered by the Walsh-Healey Public Contract Act? Most office supply stores also carry books that are formatted specifically to record payroll information. 9. B) $2,572. D) Form 941 What is the term for transferring data from the General Journal to the General Ledger? 2. ADP hires in over 26 countries around the world for a variety of amazing careers. A payroll register does not include: Multiple Choice Pay period dates. Use the following information for Questions 15 - 17: Under the Family and Medical Leave Act, employers can exempt an employee who has not worked for the employer for at least one year and has worked for the company for at least 1,250 hours in the last year. Issuanceofbonds.11. Record the health insurance deduction. A) Both documents contain year-to-date totals of taxes. Explain the major provisions of the Fair Labor Standards Act. Under FLSA, what is the current minimum wage? This will decrease 30. As of the June 11 pay date, the General Ledger account for Burling Mills has a balance of $14, \text{2. 39. How is information that is usually on a paper stub given to an employee if the employer is using electronic paystubs. Does every state have both federal and state unemployment laws? B) FUTA Under the Affordable care Act, does the insurance provided by the employer only need to meet an affordability test? True (California, New Jersey, New York & Rhode Island). If a firm accrues the payroll due but not paid at the end of a financial period, what should it do Click the card to flip Definition 1 / 66 True Click the card to flip Flashcards Learn Test Match Created by lauraberth67 Terms in this set (66) Does every state have state unemployment laws? Health Insurance $ 950. \text{14. With e-Services for Business, you can: Register, close, or re-open an employer payroll tax account. Social Security tax $ 1,670. According to Adam Smith, why do the butcher, brewer, and baker provide food for us to buy? B) Because payroll represents an asset and an income of the business. A) $1,582. The payroll register of any firm needs to have specific details on every employee. A) Social Security tax, $204; Medicare tax, $792. C) It must pay its employees for the wages earned as of that date. Discover the latest Today at Work insights from the ADP Research Institute. This information is also reflected in summary level entries in the businesss general ledger.

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