t or f Full-time students and prisoners are counted as unemployed
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t or f
Full-time students and prisoners are counted as
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- 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 missingWhat are "accelerated filers," and what criteria (such as annual income or number of workers) are used to determine who qualifies as a "accelerated filer"?These provide an employee with financial security upon ceasing employment. A wide variety of these exist, and withholding from gross pay for these plans is a voluntary deduction. The withholding of a portion of an employee's earnings, in compliance with a court order or other legal proceeding. Limited to the lesser of 25% of disposable earnings or the amount of disposable earnings that exceed 30 times the federal minimum wage. A flexible spending account that is designated for a specific purpose. It is a type of cafeteria plan.
- Which of the following types of income are not considered self-employment income? Select one: a. Rental income from real estate and personal property leased with the real estate when the taxpayer is not a real estate dealer b. Capital gains c. Dividend income d. Interest income e. None of the these are considered self-employment incomeQuestion 19: Which statement is incorrect regarding wage garnishments? Answer: А. They are only ordered by a court or other legal proceeding. В. The amount of the garnishment is based on disposable earnings. С. The limit can be increased for child support. D. O If multiple garnishments are in effect, they are satisfied in the order in which they were received.Unemployment taxes used to provide funds for previously employed people who are temporarily unemployed. True False Previous
- Which of the following is an exclusion from gross income? a. Separation payment as a consequence of termination because of the pandemic. b. Payment of backwages to a separated employee c. Commutation of accumulated unused leave credits d. All of the above e. None of the above5. Unemployment insurance and permanent job loss. Workers sometimes lose their jobs due to international trade. These jobs are permanently gone, and many displaced workers have difficulty finding a similar job. The jobs they can find in a few months tend to offer much lower wages than their old job. Consider the following two proposals to provide unemployment insurance for such workers. Explain your arguments for or against each policy. a) Workers displaced from industries identified as impacted by foreign trade receive extended unemployment benefits. They will receive unemployment benefits for an extra 26 weeks beyond the normal 26 weeks eligibility. b) These workers receive unemployment benefits up to 26 weeks. In addition, if they accept a job at a lower pay than their old job, they are guaranteed 50% of the difference in earnings as a wage supplement for two years. (The government pays the supplement to the worker.)Right or Wrong 1. A senior citizen earning minimum wage is exempt from income tax and exempt from capital gain tax. 2. If the senior citizen sold his investment in equity secuties at a gain, that income is exempt from capital gain tax. 3. A senior citizen is self employed. His sales in his business is exempt from business tax. 4. The water and electric consumption of senior citizen as tenant is allowed with 5% discount if the water and electric meters are registered in the name of his family. 5. The employer of senior citizen could claim the compensation payment to senior citizen as item of deduction from the business taxale income at 150% of tha actual amount of compensation paid to senior citizen.
- 3. The _the employee turnover, the will be their labor burden because it the number of unemployment claims against the employer thereby their (5 points) a) Higher b) Lower c) Increases d) Reduced e) Increasing f) Decreasing g) Does not affect h) Payroll taxable income i) Income j) SUTA K) FUTA I) Income taxesWhen employers are subject to both federal and state wage-hour laws, they must observe the law that: a. is the more recent one b. is more favorable to the employer c. is more favorable to the employee d. has the bigger penaltiesDiscu 1. What is the difference between an allowance and a re bursement? How does this difference affect labor burden? 2. Why are the social security and Medicare taxes paid by the employee not included in labor burden? How does employee turnover affect the labor burden costs? 4. What can a company do to reduce its workers' compen- sation insurance costs? Problems 5. Determine the annual cost, average hourly cost, and burden markup of an hourly employee given the infor- mation in Table 8-1. Assume the employee takes full advantage of the 401(k) benefit. The employee's health insurance is paid for entirely by the employer. Last year the employee worked 2,104 hours and was paid for an additional 80 hours of vacation. The employee was paid for at least 40 hours each week and is to be paid time and a half on any work over 40 hours per week. Table 8-1 Wage Information for Problem 5 Item Wages Bonus Allowances Social Security Medicare FUTA SUTA Workers' Comp. General Liability 401(k) Health…
