A retroactive increase is required when: O an increase in wages is awarded and the effective date is backdated O an employee whose employment was terminated is later reinstated, with back pay, as a result of a court decision or union intervention O the increase in wages is processed after the increase has been awarded O an error was made in calculating the number of hours worked, when paying an employee
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- Some employers will pay out employees for any unused sick leave entitlements if they leave the organisation, whereas in other organisatons employees forfeit this entitlement when they leave. Needs answer to the following; Explain how these different types of sick leave entitlements are treated for accounting purposes.Which one of the following has no impact on the expected productive hours of an employee? Select one: A. Vacation leave B. Weekends C. Public holidays D. OvertimeWith relation to the acknowledgment of employee benefits, which statement is false? A. The payment due in return for services provided by workers during the period is the cost to be recognized in the period for post- employment benefits. B. Rather than when the benefit is paid or payable, the cost of providing employee benefits should be recognized in the period during which the benefit is received by the employee. C. In the case of short-term employee benefits, the undiscounted amount of the benefits anticipated to be paid in relation to the service provided by workers in a period should be recorded in that period. d. The business should acknowledge the estimated cost of service years. Of profit-sharing and incentive payments when, and only when, it has a legal or constructive responsibility to do so because of previous events and a trustworthy estimation of the probable cost can be formed.
- Which one of the following has no impact on the expected productive hours of an employee? A. Vacation leave B. Weekends C. Public Holidays D. OvertimeYou are in middle of a payroll cheque run, and are trying to add overtime hours for an employee, however that field is blocked. What could be reason for that? This SAGE version does not allow payment of overtime You did not add the overtime rate, at the time of adding the employee This employee is not entitled to any overtime. You possible erred when setting up income itemWhich of the following is true about employee pay methods? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) O Employees must request the transfer of payroll earnings to their paycard each period. Employees must be able to access the full amount of their net pay on the pay date. O Employees do not need to own a bank account to receive their pay via direct deposit. O Employers must keep a record of all pay disbursements.
- 1. Which statement is incorrect regarding recognition of employee benefits? a. For post-employment benefits, the cost to be recognized in the period is the contribution payable in exchange for service rendered by employees during the period. b. The cost of providing employee benefits should be recognized in the period in which the benefit is earned by the employee, rather than when it is paid or payable. c. For short-term employee benefits, the undiscounted amount of the benefits expected to be paid in respect of service rendered by employees in a period should be recognized in that period. d. The enterprise should recognize the expected cost years of service. of profit-sharing and bonus payments when, and only when, it has a legal or constructive obligation to make such payments as a result of past events and a reliable estimate of the expected cost can be made 2. A deferred tax liability uses a. Current tax laws, unless enacted future tax laws are different b. Expected future tax…Some employers will pay out employees for any unused sick-leave entitlements if they leave the organisation, whereas in other organisations employees forfeit this entitlement when they leave. Explain how these different types of sick-leave entitlements are treated for accounting purposes.Which one of the following is a principle that a successful wage incentive scheme should adhere to? Select one: O A. The system must favour newly employed personnel. O B. The standards set to qualify for the bonus must be very high. O C. Employees must be paid their bonuses in no more than two months after the bonuses were earned. O D. The system must be understandable to employees.
- Why must pay rate information be a part of an employee’s payroll file? A. As a means of tracking time worked for overtime compensation purposesB. To ensure that the employee receives all compensation earnedC. As a means of ensuring pay equality among employeesD. To document satisfaction of court-ordered obligations1.If an employee works two jobs at two different wage rates for the same employer during the same pay week, any overtime pay must be calculated by using an overtime hourly rate of: a.one and one-half the lower of the two wage rates. b.one-half of the higher of the two wage rates. c.one-half of the two rates combined. d.one and one-half the higher of the two wage rates. e.None of these choices are correct. 2.Rest periods and coffee breaks may be required by all of the following except: a.a municipal legislation. b.a state legislation. c.a union contract. d.the FLSA. e.None of these choices are correct. 3.The FICA tax rates for the self-employed are: a.6.2% (OASDI) and 2.9% (HI). b.6.2% (OASDI) and 1.45% (HI). c.12.4% (OASDI) and 1.45% (HI). d.10.0% (OASDI) and 1.0% (HI). e.None of these choices are correct. 4.If the employer has made timely deposits that pay the FUTA tax liability in full, the filing of Form 940 can be delayed until: a.February 10. b.February 1.…1.Why do the employee deductions display as negative amounts on the Payroll Entry window 2.What are the gross pay amounts for Brandee M. Nunnley and for Drake V. Carter? Include Mr. Carter's overtime pay. 3.What is the net pay for Brandee M. Nunnley and for Drake V. Čarter? Include Mr. Carter's overtime pay. 4.What happens when payroll entries are posted? what informarion ia missing