CHAPTER 13 VOCAB

Until the amounts withheld from employee salaries are paid by the employer,

they are recorded as

The total earnings subject to federal unemployment tax is referred to as

Each employer must file a federal tax return showing the federal income tax and

social security and Medicare taxes due the government

The source document for paying employee income tax and social security and

Medicare tax is a

The entry to journalize paying a semimonthly payroll less deductions for employee income tax, social security and Medicare tax, and U.S. Savings Bonds is credit to Cash and the liability accounts and a debit to

The source document for paying state unemployment tax is

An employer is not required to pay federal unemployment taxes on an employee who has already earned

If an employee’s accumulated earnings are $6,500.00, and the employee earns another $1,500.00, the amount of new earnings subject to unemployment tax is

WHAT IS THE PURPOSE OF THE W4?

• an option to fill out

• if you are married or single

• total of your earnings

• specific withholdings from your paycheck

HOW OFTEN MUST EMPLOYERS FILE FORM 941 WITH THE IRS?

• Annually

• Semi-annually

• Quarterly

• Monthly