Question 18: Match each FUTA tax payment to its due date.1st Quarter (Jan-Mar)October 31DROP HERE2nd Quarter (Apr-Jun)April 30DROP HERE3rd Quarter (Jul-Sept)January 31DROP HERE4th Quarter (Oct-Dec)July 31DROP HEREQuestion 21: Which state does NOT require employers to carry disability insurance for their employees?Answer:A.O New YorkВ.O CaliforniaC.O MississippiD.O HawaiiQuestion 22: Match each form's number to its name.Form W-2Employer's Quarterly Federal Tax ReturnDROP HEREForm W-3Wage and Tax StatementDROP HEREForm 940Transmittal of Wage and Tax StatementsDROP HEREForm 941Employer's Annual Federal Unemployment Tax ReturnDROP HEREQuestion 25: Which statement regarding Form W-2 is accurate?Answer:A.O Form W-2 contains earnings information for multiple employees.В.O Form W-2 must be signed by the employer to be valid.C.O Form W-2 is submitted to the Social Security Administration and provided to each employee.D.O Form W-2 includes federal tax information and excludes state tax information.Question 29: Anna is a newly hired employee of Cowboy Inc. Which statement regarding her employment is accurate?Answer:A.O Anna can complete either version of Form W-4, and her employer must use the percentage method to calculate her federal withholding tax.O Anna must complete the current Form W-4, and her employer will use either the percentage or the wage-bracket method to calculate her federalwithholding tax.В.C.O Anna can complete either version of Form W-4, and her employer must use the wage-bracket method to calculate her federal withholding tax.D.O Anna must complete a pre-2020 Form W-4, and her employer will use either the percentage or the wage-bracket method to calculate her federalwithholding tax.Question 30: Match each form to its purpose.SS-4Used to obtain a Social Security numberDROP HEREW-4Provides information to calculate income tax withholdingDROP HERESS-5Used to obtain an Employer Identification NumberDROP HERE1-9Verifies employment eligibilityDROP HERE

Since you have posted multiple questions, as per answering guidelines we shall be solving first…

Question 18: Match each FUTA tax payment to its due date. 1st Quarter (Jan-Mar) October 31 DROP HERE 2nd Quarter (Apr-Jun) April 30 DROP HERE 3rd Quarter (Jul-Sept) January 31 DROP HERE 4th Quarter (Oct-Dec) July 31 DROP HERE

Question 18: Match each FUTA tax payment to its due date. 1st Quarter (Jan-Mar) October 31 DROP HERE 2nd Quarter (Apr-Jun) April 30 DROP HERE 3rd Quarter (Jul-Sept) January 31 DROP HERE 4th Quarter (Oct-Dec) July 31 DROP HERE

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Payroll Entries

Payroll is a comprehensive record of employees that are paid by the company. Payroll classifies employees into various categories according to their function and pays scale (basic wage, allowance, income tax, other taxes, employee loans, etc.). Payroll processes form the bedrock of every organization as it contains sensitive information on the ‘wage and paycheck’ portion of the company’s strength—its employees. The organization needs to keep a track of the employees currently on the payroll, the net payout for the company, the record of transactions related to the employees including deductions and payroll taxes to identify the liability and its effect on the balance sheet (and other financial statements). Payroll records also include qualitative factors such as the conduct of the employee.

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