Which of the following does not describe a purpose of the employee's earnings records? a. They are part of the payroll

Q: An employee's filing status never appears on the payroll register. O True O False

A: A payroll register is a tool that records wages paid for each and every employee, payroll registers…

Q: What payroll taxes is the employer responsible for paying?

A: Employer payroll taxes: The taxes which the employer must pay to the employees with their salaries…

Q: What is the term for the employer's mandatory payroll taxes that the government has written into…

A: A payroll tax is a percentage withheld from an employee's pay by an employer who pays it to the…

Q: When is an employer-employee relationship exist?

A: Definition:

Q: ue or false 2. The amount of income taxes withheld from employee gross pay is an expense to the…

A: The expenses are the costs incurred to earn the revenue for the business and liabilities are the…

Q: Saidina Laum 2. Which payroll tax is levied on both employers and employees?

A: The term "payroll tax" refers to a broad range of taxes that employers are required to pay and, in…

Q: Record the employer's benefit expense.

A: Payroll taxes are defined as the amounts collected by the government or revenue collection authority…

Q: Define the term payroll register.

A:

Q: In a payroll journal entry, a credit to Federal Withholding Tax Payable indicates a.Federal taxes…

A: Solution: In payroll journal entry, Payroll expense are debited, amount paid to employee is credited…

Q: Why are employees considered assets to an organization?

A: INTRODUCTION: Assets are items that you possess and can sell for money. An asset is any resource…

Q: What is the purpose of the following control procedures (i.e., what threats is it designed to…

A: • The purpose of giving checks for the paychecks is used to detect the fraudulent employee in an…

Q: at is the proper way to record an advance to an employee as well as

A: A salary advance is nothing more than a loan that you can give to an employee. The advance is…

Q: Some payroll taxes are paid by both employees and employers. Others are paid only by employers.…

A: Some payroll taxes are borne by both employer and employee while some are paid only by employees or…

Q: What purpose does the individual employee earnings record serve?

A:

Q: Generally, all deductions made from an employee's gross pay are required by law. True False

A: Gross pay or salary refers to the total amount which is mentioned in the employment contract…

Q: Which of these statements are correct? i. A contract for service is an independent contractor; the…

A: i. A contract for service is an independent contractor; the contractor is responsible for filing…

Q: Which of the following is not a privacy act specifically pertaining to payroll records? Multiple…

A: Privacy acts are laws or regulations designed to protect the privacy and confidentiality of personal…

Q: Under what responsibility would investigating tax fraud be? tax accounting, Financial Accounting, or…

A: Tax fraud is a type of deception by misrepresenting or suppressing taxable income to evade or reduce…

Q: What functional responsibilities are associated with the payroll cycle?

A: Payroll Cycle: The payroll cycle is commenced with the hiring and dismissal of an employee along…

Q: The account that should be credited for the total income tax withheld from employee's earnings is o…

A: The objective of the question is to identify the correct account that should be credited when the…

Q: Which duties should be separated in the payroll cycle?

A: Payroll System:   A payroll system is a system within an organization that is responsible for…

Q: 8. (a) Identify the three types of employer payroll taxes. (b) How are tax liability accounts and…

A: The sum of wages and compensation paid to staff in return for services performed in the firm is…

Q: How is self-employment income treated differently than income earned when you work

A: Taxable income: Taxable income can be defined as income derived after adjustment of necessary…

Q: What does Compensation for employee services includes?

A: Introduction Compensation is the cash paid to employees for their service that they provided for the…

Q: When would it be considered that income has arisen in relation to employee benefits?

A: The benefits or perks that are being offered to and given to the employees in addition to their…

Q: e any examples of payroll deductions and describe them?

A:

Q: Employee benefits given by an employer to an employee may be recognized by the employer as I.Asset…

A: The financial statements of the business include the income statement and balance sheet of the firm.

Q: What information is necessary to record payroll transactions? Which account is used to record an…

A: A payroll is set of information which entails the various monetary benefits that employees draw from…

Q: true or false In most situations, the total Social Security taxes levied on employers will exceed…

A: The Social Security tax rate for both employees and employers is 6.2% of employee compensation (for…

Q: Question 5: Which of the following employee taxes is matched by the employer? Answer: A. State…

A: Introduction:- Payroll taxes are the state and federal taxes. As an employer, are responsible to…

Q: Which of the following taxes is paid by the employee and the employer? a.SUTA b.Federal withholding…

A: SUTA: State Unemployment Tax Rate  FUTA: Federal Unemployment Tax Rate  FICA: Federal Insurance…

Q: Which of the following amounts paid by an employer to an employee is not subject to withholding? Oa.…

A: Given : Multiple options  a) Salary  b) Travel expense reimbursements from an accountable plan c)…

Q: How are the electronic tax deposits transferred from the employer’s account to the IRS?

A: The employer is having two options for transferring the electronic tax deposit to the internal…

Q: Describe how an experience-rating system is used in determining employers’ contributions to state…

A: An experience rating compares the total amount of losses sustained by one covered party to the total…

Q: the amount of payroll tax withheld from an employee’s paycheck by an employer is  a current…

A: Answer with explanation are as follows

Q: Under IFRS, the amounts of long-term employment benefits, such as paid absences and unrestricted…

A: Under IFRS (International Financial Reporting Standards), remeasurements of long-term employment…

Q: Employees are subject to FUTA taxes, which are not deducted from their pay. A. True B, False

A: This question deals with Employees are subject to FUTA taxes,

Q: i. The portion of the payroll tax levied on employers is O regressive, if the incidence is on…

A: Payroll tax is withheld by an employer from an employee's pay. The employer later pays it to the…

Q: FUTA taxes impose on employees and therefore are not deducted from employee wages.   A.  True B,…

A: Given statement is false.