Mod 8 Payroll Accounting Quiz

1. Carmen Gaetano worked 46 hours during this payweek.

He is paid time-and-a-half for hours over 40 and his pay rate is $17.90/hour. What was his overtime premium pay for this workweek?

A)

$107.40

B)

$161.10

C)

$50.70

D)

$53.70

E)

$26.85

2.

The employee's earnings record provides information for each of the following except:

A)

completing Forms W-2.

B)

completing the journal entry to record the payroll.

C)

determining when the accumulated wages of an employee reach cutoff levels.

D)

preparing reports required by state unemployment compensation laws.

E)

preparing the payroll register.

3.

Which of these accounts shows the total gross earnings that the employer incurs as an expense each payday?

A)

Payroll Taxes

B)

Federal Income Taxes Payable

C)

Wages Expense

D)

Salaries Payable

E)

None of these

4.

Which of the following accounts is an expense account in which an employer records the FICA, FUTA, and SUTA taxes?

A)

Wages Expense

B)

Payroll Taxes

C)

SUTA Taxes Payable

D)

Salaries Payable

E)

None of these

5.

Which of the following is not an expense of the employer?

A)

FUTA tax

B)

FICA tax-HI

C)

FICA tax-OASDI

D)

SUTA tax

E)

Union dues withheld

6.

The entry to deposit FICA taxes and federal income taxes withheld involves all of the following accounts except:

A)

Payroll Taxes.

B)

FICA Taxes Payable-OASD

C)

FICA Taxes Payable-H

D)

Employees FIT Payable.

E)

Cash.

7.

When recording the deposit of FUTA taxes owed, the proper entry is:

A)

FUTA Tax Expense Cash

B)

Payroll Taxes Cash

C)

Payroll Taxes FUTA Taxes Payable

D)

FUTA Taxes Payable Cash

E)

FUTA Tax Expense FUTA Taxes Payable

8.

The entry made at the end of the accounting period to record wages incurred but unpaid is:

A)

Wages Expense Wages Payable

B)

Wages Expense FICA Taxes Payable-OASDI FICA Taxes Payable-HI FIT Payable Wages Payable

C)

Wages Payable Cash

D)

Wages Expense Cash

E)

Wages Expense Payroll Taxes Wages Payroll

9.

Which of the following items would require an adjusting entry at the end of each accounting period?

A)

Garnishment for child support payments

B)

Withholdings for a 401(k) plan

C)

Vacation pay earned by employees

D)

Union dues withheld

E)

None of these

10.

In recording the monthly adjusting entry for accrued wages at the end of the accounting period, the amount of the adjustment would usually be determined by:

A)

collecting the timesheets for the days accrued.

B)

using the same amount as the prior month's adjustment.

C)

using the wages of the salaried workers only.

D)

a percentage of the previous week's gross payroll.

E)