1)To record the employees' wages incurred for the period, the entry will include a debit to Wages Expense. True /False

2)Employees who are hired by the companies are considered contract laborers.True/False

3)The Form W-4 is the source of information to complete the annual earnings statement. True/False

4)If an employee was hired to work at $20.00 an hour and worked for 42 hours for the week, the gross pay is $840.00. True/False

5)The social security taxes have a limit while the Medicare taxes do not. True/False

6)Employees who worked for over 40 hours a week are entitled to overtime pay in addition to the regular time.True/False

7)Companies are mandated to pay for medical insurance premiums of their employees. True/False

8)The federal income tax withholding is added to the gross pay of the employees. True/False

9)The overtime rate for an employee who earns $20.00 regular rate is $30.00. True/False

10)At the end of the year, employees are given Form 1099-Misc for the total amount of gross wages earned for the year. True/False

11)On Dec. 15, current year, ABC Co. paid 2 employees: Toni is paid $20.00 an hour and worked for 48 hours for the week. Joseph is paid a salary amount of $1,000.00 a week. Toni's federal income tax withholding is $50.00 and Joseph's federal income tax withholding is $100.00. Joseph contributes $10.00 to United Way and Toni does not. None of the employees had reached the limit for social security taxes.Refer to Table 1, the gross pay for Toni is:

$960

$1,000

$1,960

$1,040

none of the above

12)On Dec. 15, current year, ABC Co. paid 2 employees: Toni is paid $20.00 an hour and worked for 48 hours for the week. Joseph is paid a salary amount of $1,000.00 a week. Toni's federal income tax withholding is $50.00 and Joseph's federal income tax withholding is $100.00. Joseph contributes $10.00 to United Way and Toni does not. None of the employees had reached the limit for social security taxes.

Refer to Table 1, the gross pay for Joseph is:

$960

$1,000

$1,960

$1,040

none of the above

13)On Dec. 15, current year, ABC Co. paid 2 employees: Toni is paid $20.00 an hour and worked for 48 hours for the week. Joseph is paid a salary amount of $1,000.00 a week. Toni's federal income tax withholding is $50.00 and Joseph's federal income tax withholding is $100.00. Joseph contributes $10.00 to United Way and Toni does not. None of the employees had reached the limit for social security taxes.

Refer to Table 1, the total amount of deductions for Toni is

$158.76

$118.76

$108.76

$129.56

none of the above

14)On Dec. 15, current year, ABC Co. paid 2 employees: Toni is paid $20.00 an hour and worked for 48 hours for the week. Joseph is paid a salary amount of $1,000.00 a week. Toni's federal income tax withholding is $50.00 and Joseph's federal income tax withholding is $100.00. Joseph contributes $10.00 to United Way and Toni does not. None of the employees had reached the limit for social security taxes.

Refer to Table 1, the total amount of deductions for Joseph is

$186.50

$56.50

$106.50

$116.50

None of the above

15) On Dec. 15, current year, ABC Co. paid 2 employees: Toni is paid $20.00 an hour and worked for 48 hours for the week. Joseph is paid a salary amount of $1,000.00 a week. Toni's federal income tax withholding is $50.00 and Joseph's federal income tax withholding is $100.00. Joseph contributes $10.00 to United Way and Toni does not. None of the employees had reached the limit for social security taxes.

Refer to Table 1, the net amount of take home pay for Toni is:

$881.24

$910.44

$931.24

$921.44

None of the above

16) On Dec. 15, current year, ABC Co. paid 2 employees: Toni is paid $20.00 an hour and worked for 48 hours for the week. Joseph is paid a salary amount of $1,000.00 a week. Toni's federal income tax withholding is $50.00 and Joseph's federal income tax withholding is $100.00. Joseph contributes $10.00 to United Way and Toni does not. None of the employees had reached the limit for social security taxes.

Refer to Table 1, the net amount of take home pay for Joseph is:

$893.50

$943.50

$833.50

$883.50

none of the above

17) On Dec. 15, current year, ABC Co. paid 2 employees: Toni is paid $20.00 an hour and worked for 48 hours for the week. Joseph is paid a salary amount of $1,000.00 a week. Toni's federal income tax withholding is $50.00 and Joseph's federal income tax withholding is $100.00. Joseph contributes $10.00 to United Way and Toni does not. None of the employees had reached the limit for social security taxes.

Refer to Table 1, the combined total of social security taxes for both Toni and Joseph is:

$85.68

$150.00

$58.76

$56.50

none of the above

18) On Dec. 15, current year, ABC Co. paid 2 employees: Toni is paid $20.00 an hour and worked for 48 hours for the week. Joseph is paid a salary amount of $1,000.00 a week. Toni's federal income tax withholding is $50.00 and Joseph's federal income tax withholding is $100.00. Joseph contributes $10.00 to United Way and Toni does not. None of the employees had reached the limit for social security taxes.

Refer to Table 1, the combined total of Medicare taxes for both Toni and Joseph is:

$ 85.68

$150.00

$95.68

$115.26

none of the above

19) On Dec. 15, current year, ABC Co. paid 2 employees: Toni is paid $20.00 an hour and worked for 48 hours for the week. Joseph is paid a salary amount of $1,000.00 a week. Toni's federal income tax withholding is $50.00 and Joseph's federal income tax withholding is $100.00. Joseph contributes $10.00 to United Way and Toni does not. None of the employees had reached the limit for social security taxes.

Refer to Table 1, the combined total of the federal income tax withholding for both Toni and Joseph is:

$85.68

$150.00

$29.58

$275.26

None of the above.

20) On Dec. 15, current year, ABC Co. paid 2 employees: Toni is paid $20.00 an hour and worked for 48 hours for the week. Joseph is paid a salary amount of $1,000.00 a week. Toni's federal income tax withholding is $50.00 and Joseph's federal income tax withholding is $100.00. Joseph contributes $10.00 to United Way and Toni does not. None of the employees had reached the limit for social security taxes.

Refer to Table 1. What is the combined total gross pay for both Toni and Joseph?

$ 960.00

$1,000.00

$2,040.00

$1,040.00

None of the above