Chapter 12 Preparing Payroll Records - Terms

The amount paid to an employee for every hour worked. (p. 346)

• payroll
• wage
• salary
• commision

A fixed annual sum of money divided among equal pay periods. (p. 346)

• wage
• payroll
• salary
• commision

A method of paying an employee based on the amount of sales the employee generates. (p. 346)

• wage
• commission
• salary
• payroll

The total amount paid by a business for an employee's work, earned by a wage, salary, or commission. (p. 346)

• net earnings
• total earnings
• acculumated earnings
• base earnings

The number of days or weeks of work covered by an employee's paycheck. (p. 346)

• pay period
• time period
• earnings period
• two weeks

The total amount earned by all employees for a pay period. (p. 346)

• wage
• salary
• payroll
• commision

The accounting staff position that compiles and computes payroll data, then prepares, journalizes, and posts payroll transactions. (p. 346)

• accounts payable clerk
• accountant
• accounts receivable clerk
• payroll clerk

A device used to record the dates and times of every employee's arrivals and departures. (p. 347)

• time cards
• finger print reader
• ID card reader
• time clock

Taxes based on the payroll of a business. (p. 351)

• state tax
• Medicare tax
• social security tax
• payroll taxes

A deduction from total earnings for each person legally supported by a taxpayer, including the employee. (p. 352)

• W-2 form
• withholding allowance
• I-9 form
• W-4 form