Answered step by step
Verified Expert Solution
Question
1 Approved Answer
1 All of the following taxes are withheld from an employee's pay except A Federal income tax. B SUTA tax. C Medicare tax. D Social
1 All of the following taxes are withheld from an employee's pay except A Federal income tax. B SUTA tax. C Medicare tax. D Social security tax. 2 Which of the following statements is not correct? A The amount of social security tax withheld depends on an employee's gross earnings, martial status, and number of withholding allowances. B Federal law requires that social security, Medicare, and federal income taxes be deducted from the gross pay of most employees. C Medicare taxes are levied in an equal amount on both employers and employees. D Once an employee's year-to-date wages reach a certain amount prescribed by law, social security tax is no longer withheld. 3 The employer records the amount of federal income tax withheld from employees as A Income Tax Expense. B Employee Income Tax Payable. C Payroll Tax Expense. D Social Security Tax Payable. 4 An employee whose regular hourly rate is $9 and whose overtime rate is 1.5 times the regular rate worked 44 hours one week. The employee's gross pay was A $378 B $396 C $414 D $594 5 Lacy Crawford has a regular hourly rate of $21.50. In a week when she worked 40 hours and had deductions of $110 for federal income tax, $53.50 for social security tax, and $12.50 for Medicare tax, her net pay was A $860 B $684 C $750 D $794 6 Grammy's Bakery had the following information for the pay period ending June 30: Employee Name P. Ganster T. Baker Pay rate $3,000 10.00/hr Hours worked Salaried 50 Federal Cumulative income tax earnings Department withheld $12,000 Kitchen $86.00 6,500 Office 22.00 Given the above information, what amount would be debited to Kitchen Salaries Expense for the pay period ending June 302 A $12,000 B $550 C $3,000 D $3,550
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started