College Accounting (Book Only): A Career Approach
13th Edition
ISBN: 9781337280570
Author: Scott, Cathy J.
Publisher: South-Western College Pub
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Question
Chapter 7, Problem 6DQ
To determine
State the three required deductions and the four voluntary deductions from an employee’s total earnings.
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Students have asked these similar questions
Identify two different types of deductions that an employer is required to subtract from a paycheck .
All of the following income items are includible in an employee's gross income except:
a, Severance pay for cancellation of employment
b, Unemployment compensation
c, Payments from employer while sick or injured
d, Medical insurance premium paid by employer for employee and spouse
e, Moving expense reimbursement
Recording employee payroll deductions may involve:
Multiple Choice
Liabilities to the employer.
Liabilities to federal and state governments.
Expenses for state unemployment.
Expenses for the gross wages and salaries.
Expenses for the employer portion of any medical insurance.
Chapter 7 Solutions
College Accounting (Book Only): A Career Approach
Ch. 7 - Prob. 1QYCh. 7 - Which of the following taxes are not withheld from...Ch. 7 - Calculate an employees total earnings if the...Ch. 7 - Prob. 4QYCh. 7 - Prob. 5QYCh. 7 - Prob. 6QYCh. 7 - When is the payroll register updated? a. Annually...Ch. 7 - Prob. 1DQCh. 7 - Prob. 2DQCh. 7 - Prob. 3DQ
Ch. 7 - Explain the difference between gross earnings and...Ch. 7 - Prob. 5DQCh. 7 - Prob. 6DQCh. 7 - Prob. 7DQCh. 7 - Prob. 8DQCh. 7 - Determine the gross pay for each employee listed...Ch. 7 - Prob. 2ECh. 7 - Prob. 3ECh. 7 - Prob. 4ECh. 7 - For tax purposes, assume that the maximum taxable...Ch. 7 - On January 21, the column totals of the payroll...Ch. 7 - Prob. 7ECh. 7 - Assume that the employees in Exercise 77 are paid...Ch. 7 - Prob. 1PACh. 7 - Prob. 2PACh. 7 - Prob. 3PACh. 7 - Prob. 4PACh. 7 - Prob. 5PACh. 7 - Prob. 1PBCh. 7 - Prob. 2PBCh. 7 - Prob. 3PBCh. 7 - Prob. 4PBCh. 7 - Prob. 5PBCh. 7 - Attracting and retaining the best employees is...Ch. 7 - Southern Company pays its employees weekly by...Ch. 7 - Prob. 3A
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Similar questions
- Which of the following is considered an employer payroll tax? A. FICA Medicare B. FUTA C. SUTA D. A and B only E. B and C only F. A, B, and Carrow_forwardDetermine the employee benefit expense for the current year.arrow_forwardThe wage base for unemployment compensation taxes are: a. all wages paid but not including those that have been set aside for the employee to draw upon at his/her discretion. b. all wages actually paid or constructively paid. c. all wages paid or payable for the period. d. all wages that are considered to be constructively paid plus wages payable.arrow_forward
- Figure 6.1 The form below shows the amounts that appear in the Earnings to Date column of the employees' earnings records for 10 full- and part-time workers in Unger Company. These amounts represent the cumulative earnings for each worker as of October 4, the company's last payday. The form also gives the gross amount of earnings to be paid each worker on the next payday, October 11. In the state where Unger Company is located, the tax rates and bases are as follows: Tax on Employees: FICA-OASDI 6.2% on first $137,700 FICA-HI 1.45% on total earnings SUTA 0.5% on first $8,000 Tax on Employer: FICA-OASDI 6.2% on first $137,700 FICA-HI 1.45% on total earnings FUTA 0.6% on first $7,000 SUTA 1.8% on first $8,000arrow_forwardGross pay is: Deductions withheld by an employer Salaries after taxes are deducted Total compensation earned by an employee before any deductions The amount of the paycheckarrow_forwardWhich of the following taxes would be deducted in determining an employee’s net pay? a. FUTA taxes b. SUTA taxes c. FICA taxes d. all are correctarrow_forward
- Question 6: Which of the following is not a voluntary deduction from gross earnings? Answer: A. O Union dues B. O State disability insurance C. O Payroll deduction IRA D. Cafeteria planarrow_forwardIt is mandatory for both the employer and employee to pay ________. A. employee income tax B. FICA C. SUTA D. federal unemployment taxarrow_forwardFind the employer’s FICA deduction for each of the following employees. Find the amounts of the FUTA taxes for the current pay period for each of the following employees. Decimals for categories SS-0.062, Medicare-0.0145, (FUTA-0.0006 -$7000Cap) Show work Employees Year-to-Date Current Gross Social Security (0.062) Medicare (0.0145) Subject to FUTA (0.006) FUTA F. Todd $6959.28 $1088.64 T. Stanley $7,882.51 $827.44arrow_forward
- Determine the employee benefit expense for the current year, remeasurement related to the defined benefit plan and prepare journal entry to record the employee benefit expense.arrow_forwardThe account that should be credited for the total income tax withheld from employee's earnings is o a. FICA Tax Expense. o b. Employee Income Tax Expense. . FICA Tax Payable o d. Employee Income Tax Payable.arrow_forward
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