D Question 1 1 pts Payroll entries are made with data from the O wage and tax statement O employee's earning record O employer's quarterly federal tax return O payroll register Question 2 1 pts A pension plan that requires the employer to make annual pension contributions, with no promise to employees regarding future pension payments, is termed funded unfunded defined benefit defined contribution Scott Company sells merchandise with a one-year warranty. Sales consisted of 2,500 units in Year 1 and 2,000 units in Year 2. It is estimated that warranty repairs will average $10 per unit sold, and 30% of the repairs will be made in Year 1 and 70% in Year 2 for the Year 1 sales. Similarly, 30% of repairs will be made in Year 2 and 70% in Year 3 for the Year 2 sales. In the Year 3 income statement, how much of the warranty expense shown will be due to Year 1 sales? $6,000. $14,000. $20,000. O so DI Question 4 2 pts Which of the following forms is typically given to employees at the end of the calendar year so that einployes can file their individual income tax forms? Employee's Withholding Allowance Certificate (W4) Wage and Tax Statement Form W-2) Employers Quarterly Federal Tax Return (Fomn 941) 4011: plans Based on the following data, what is the quick ratio, rounded to one decimal point? Accounts payable Accounts receivable Accrued liabilities $ 30,000 60,000 5,000 30,000 50,000 Cash Intangible assets Inventory Long-term investments Long-tem liabilities Marketable securities Fixed assets Prepaid expenses 69,000 80,000 100,000 30,000 670,000 1,000 3:4 1.S Zennia Company provides its employees with varying amounts of vacation per year, depending on the length of employment. The estimated amount of the current year's vacation cost is $135,000. On December the current year, the current month's accrued vacation pay is 31, the end of s!35,000 S67,500 so $ 1 1 ,250 D | Question 7 1 pts On June 8, Williams Company issued an $80,000, 596, 120-day note payable to Brown Industries. Assuming a 360-day year, what is the maturity value of the note? $82,600 $84,000 $81,333 o $S8,200 D | Question 8 1 pts According to a summary of the payroll of Scotland Company. $450.000 was subject to the 6.0% social security tax and $500,000 was subject to the 1.5% Medicare tax. Federal income tax withheld was $98.000. Also. $15.000 was subject to state (4.2%) and federal (.8%) unemployment taxes. The journal entry to record accrued salaries would include a debit to Salary Pay able of $450,000 credit to Salary Payable of $500,000 debit to Salary Expense of $500,000 credit to Salary Expense or s450.000 Question 9 1 pt Which of the following is an example of a variable component of a payroll system? hours worked eMedicare tax rate rate of pay social security number Question 10 1 pt Which of the following is the most desirable quick ratio? 2.20 1.80 1.95 1.50
