Accounting Chapter Ten

The individual earnings record.

All details related to an employee's earnings, deductions, and net pay throughout the year would be found in

$20

An employee whose regular hourly rate is $10 and whose overtime rate is 1.5 times the regular rate worked 44 hours in one week. In the payroll register, the employer should record an overtime premium of

Earnings during the pay period and length of the pay period, marital status, and number of withholding allowances.

The amount of federal income tax to withhold from an employee's earnings depends on the

Employment Income Tax Payable

The employer records the amount of federal income tax withheld from employees as

gross wages

Which of the following is a factor in the determination of the amount of social security tax to withhold from an employee's pay?

The deductions are added to the gross earnings to compute Net Amount, which is the amount paid to each employee.

Which of the following statements about payroll register is not correct?

All of the above. (The FUTA tax provides benefits for employees who become unemployed. The federal unemployment tax rate can be reduced by the rate charged by the state for the state unemployment tax. The earning base for the federal and state unemployment taxes are the same, the first $7,000 of an employee's earnings for the year.)

Which of the following statements is correct?

Disability benefits for the worker and the worker's dependents are provided by the Federal Insurance Contributions Act.

Which of the following statements is correct?

Assuming that the base amount has not yet been exceeded, to compute the Medicare tax to withhold from the employee's paycheck, multiply the wages by the Medicare tax rate of 1.45%.

Which of the following statements is not correct?

The amount of social security tax withheld depends on an employee's gross earnings, marital status and number of withholding allowances.

Which of the following statements is not correct?