• A federal unemployment tax is levied on:
  • Employees only
  • Both employer and employees
  • Employers only
  • Government employers only
  • No one
• Which of the following types of payments are not taxable wages for federal unemployment tax
  • Retirement pay
  • Cash prizes and awards for doing outstanding work
  • Dismissal pay
  • Bonuses as remuneration for services
  • Payment under a guaranteed annual wage plan
• If the employer is tardy in paying the state contributions, the credit against the federal tax is limited to what percent of the late payments that would have been allowed as a credit if the contributions had been paid on time?
  • 6.2%
  • 90%
  • 5.13%
  • 20%
  • 0%
• Voluntary contributions to a states unemployment department are:
  • Allowed in all states
  • Designed to increase an employers reserve account in order to lower the employers contribution rate.
  • Capable of being paid at any time with no time limit
  • Returned to the employer at the end of the following year
  • Sent directly to the IRS
• If the employer has made timely deposits that pay the FUTA tax liability in full, the filing of Form 940 can be delayed until:
  • December 31
  • February 15
  • February 10
  • February 1
  • March 31
• When making a payment of FUTA taxes, the employer must make the deposit by the:
  • End of the month after the quarter
  • 15^th of the month after the quarter
  • 10^th of the month after the quarter
  • End of the following quarter
  • Same day of the FICA and FIT deposits
• An employer must pay the quarterly FUTA tax liability if the liability is more than:
  • $3,000
  • $500
  • $1,000
  • $1
  • $100
• Carmen Gaetano worked 46 hours during this pay week. He is paid time and a-half for hours over 40 and his pay rate is $17.90/hour. What was his overtime premium pay for this workweek
  • $107.40
  • $161.10
  • $50.70
  • $53.70
  • $26.85
• The employees earnings record provides information for each of the following except:
  • Completing Form W-2
  • Completing the journal entry to record the payroll
  • Determining when the accumulated wages of the employees reach cutoff levels
  • Preparing reports required by state unemployment compensation laws
  • Preparing the payroll register
• Which of these accounts shows the total gross earnings that the employer incurs as an expense each payday?
  • Payroll Taxes
  • Federal Income Taxes payable
  • Wages Expense
  • Salaries Payable
  • None of the above
• The garnishment that takes priority over all others is:
  • A federal tax levy
  • A government student loan
  • A creditor garnishment
  • An administrative wage garnishment
  • A child support order
• Which of the following accounts is an expense account in which an employer records the FICA, FUTA, AND SUTA taxes?
  • Wages Expense
  • Payroll Taxes
  • SUTA Taxes Payable
  • Salaries Payable
  • None of the above
• Which of the following is not an expense of the employer?
  • FUTA Tax
  • FICA Tax HI
  • FICA Tax OASDI
  • SUTA Tax
  • Union dues withheld
• When recording the deposit of FUTA taxes owed, the proper entry is:
  • FUTA Tax Expense
  • Payroll Taxes
  • Payroll Taxes
  • FUTA Taxes Payable
  • FUTA Tax Expense
• Which of the following items would require an adjusting early at the end of each accounting period?
  • Garnishment for child support payments
  • Withholdings for a 401(k) plan
  • Vacation pay earned by employees
  • Union dues withheld
  • None of the above