Accounting II Chapter 13

Front

Each employer who withholds income tax, social security tax, and Medicare tax from employee earning must furnish each employee with a quarterly statement.

Back

False

Front

Some employers must deposit payments for withheld employees' federal income tax and social security and Medicare taxes on the next banking day.

Back

True

Front

In each pay period, the payroll information for each employee is recorded on his or her employee earnings record.

Back

True

Front

The payroll register provides all the payroll information needed to prepare a payroll.

Back

False

Front

If an employee's accumulated earnings are $6,500 and the employee earns another $1,500, the amount of new earnings subject to unemployment is $1,500.

Back

True

Front

A business deposits the total of gross wages in a separate payroll checking account.

Back

False

Front

The tax base for Medicare tax is the same as the tax base for social security tax.

Back

False

Front

Employer payroll taxes are business expenses.

Back

True

Front

In the journal entry for a payroll, the amount debited to Salary Expense is the total of the Net Pay column of the payroll register.

Back

False

Front

The employer social security tax rate is different than the employee social security tax rate.

Back

False