PAYROLL ACCT.,2019 ED.(LL)-TEXT
19th Edition
ISBN: 9781337619783
Author: BIEG
Publisher: CENGAGE L
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Question
Chapter 6, Problem 3QD
To determine
List the options available to the companies to correct the overpaid salary from the salaried exempt employee.
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1. Which of these is NOT a regulation set forth within ERISA?
Answer:
A.
Employees must be provided with pertinent retirement plan information.
B.
Employers are required to offer retirement plans.
C.
Fiduciaries of the retirement plan may be held accountable for breaches of responsibility.
D.
There are specific timeframes over which retirement plan benefits become nonforfeitable.
2. Which statement is incorrect regarding wage garnishments?
Answer:
A.
They are only ordered by a court or other legal proceeding.
B.
The amount of the garnishment is based on disposable earnings.
C.
The limit can be increased for child support.
D.
If multiple garnishments are in effect, they are satisfied in the order in which they were received.
3. Which statement about Social Security tax is accurate?
Answer:
A.…
10.
Which of the following key risks for Payroll activities under the Hire-to-Retire process where if present would pose the greatest regulatory risks?
Group of answer choices
Payroll rates or pay-scales are modified inappropriately in the payroll system.
The required contributions from employees are not remitted to SSS, PAG-IBIG, and PhilHealth regularly.
Payroll, tax, and other voluntary and involuntary deductions are inaccurately calculated and paid or disbursed past the due date.
Discrepancies exist between payroll and other deduction amounts and what is reported on financial, tax, and legal reports.
Which of the following is/are true with regard to accounting for short-term employee benefits?
Unpaid short-term benefits are reported as accrued under current liabilities at an undiscounted value.
If the payment exceeds the undiscounted amount of the benefits, the excess is reported as prepayment under current assets.
The benefits are reported as an expense under profit or loss, unless another standard requires or permits the cost of the benefits to be capitalized.
Group of answer choices
Only statement 1.
All statements are true.
Only statement 3.
Only statement 2.
Chapter 6 Solutions
PAYROLL ACCT.,2019 ED.(LL)-TEXT
Ch. 6 - The totals from the payroll register of Olt...Ch. 6 - Olt Companys gross payroll for the week of January...Ch. 6 - _____ 1. 1. Employees earnings record A. Expense...Ch. 6 - Prob. 1QRCh. 6 - For what reason are distribution columns sometimes...Ch. 6 - Prob. 3QRCh. 6 - Prob. 4QRCh. 6 - Prob. 5QRCh. 6 - Prob. 6QRCh. 6 - Prob. 7QR
Ch. 6 - What portions of an employees take-home pay are...Ch. 6 - Prob. 9QRCh. 6 - Prob. 10QRCh. 6 - Prob. 11QRCh. 6 - What must the employer do with unclaimed...Ch. 6 - What special accounts must usually be opened in...Ch. 6 - Prob. 14QRCh. 6 - Prob. 15QRCh. 6 - Prob. 16QRCh. 6 - What accounts are debited and credited when an...Ch. 6 - Prob. 18QRCh. 6 - Prob. 19QRCh. 6 - Prob. 20QRCh. 6 - Prob. 1QDCh. 6 - Prob. 2QDCh. 6 - Prob. 3QDCh. 6 - Prob. 1PACh. 6 - Prob. 2PACh. 6 - a. Cal Ruther, an employer, is subject to FICA...Ch. 6 - The employees of Donnelly Music Company earn total...Ch. 6 - Vulcra, Inc., has a semimonthly payroll of 67,000...Ch. 6 - Prob. 6PACh. 6 - Prob. 7PACh. 6 - The employees of Pelter Company earn wages of...Ch. 6 - The following information pertains to a weekly...Ch. 6 - Prob. 10PACh. 6 - On December 31, 20--, Karmansky Company needed to...Ch. 6 - Kelsey Gunn is the only employee of Arsenault...Ch. 6 - Prob. 13PACh. 6 - At the end of April, Hernandez Company had a...Ch. 6 - Prob. 15PACh. 6 - In the Illustrative Case in this chapter, payroll...Ch. 6 - Prob. 1PBCh. 6 - Prob. 2PBCh. 6 - Prob. 3PBCh. 6 - The employees of Carson Bakery Company earn total...Ch. 6 - Purnell, Inc., has a semimonthly payroll of 53,900...Ch. 6 - Adams, Inc., pays its employees weekly wages in...Ch. 6 - Prob. 7PBCh. 6 - The employees of Portonegra Company earn wages of...Ch. 6 - The following information pertains to a weekly...Ch. 6 - Prob. 10PBCh. 6 - Prob. 11PBCh. 6 - Prob. 12PBCh. 6 - Prob. 13PBCh. 6 - At the end of June, Morton Company had a balance...Ch. 6 - Prob. 15PBCh. 6 - In the Illustrative Case in this chapter, payroll...Ch. 6 - Frank Flynn is the payroll manager for Powlus...
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