Question
The net pay is computed as follows: Select one: a. Gross pay Payroll deductions = Net payb. Gross pay + Payroll deductions = Net payc.
The net pay is computed as follows:
Select one:
a. Gross pay Payroll deductions = Net payb. Gross pay + Payroll deductions = Net payc. Payroll deductions Gross pay = Net payd. Gross pay Payroll deductions = Net payQuestion 2
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Question textIf a factory worker is paid $18.00 per hour and he works 40 hours a week, what is his bi-weekly gross pay?
Select one:
a. $1,000b. $1,500c. $1,560d. $1,440Question 3
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Question textNet pay is the net amount:
Select one:
a. Received by the employee.b. Received by the employer.c. Received by the employee less additional amounts payable by the employer.d. The gross amount less the net amount.Question 4
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Question textAn employer has calculated the following amounts for an employeeduring the last week of March: gross wages of $2,000, taxes withheld of $430, pension plan of $96 and employment insurance of $37. Lindas net pay is:
Select one:
a. $1,437b. $1,570c. $1,474d. $1,867Question 5
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Question textTrue or False: Statutory and voluntary deductions are the main sources of payroll deduction liability.
Select one:
TrueFalseQuestion 6
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Question textWhen a company remits the payroll deductions to the government, what is the correct entry to record this transaction?
Select one:
a. Debit various payroll liability accounts, credit cashb. Debit accounts payable, credit cashc. Debit various payroll liability accounts, credit salaries expensed. Debit cash, credit various payroll liability accountsQuestion 7
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Question textUse the following payroll register to answer the following question.
| Payroll Register |
| ||||
Deductions |
|
| ||||
Name | Gross Earnings | CPP | EI | Income Tax | Total Deductions | Net Pay |
A. Adams | 2,480.00 | 108.32 | 44.14 | 545.60 | 698.06 | $1,781.94 |
B. Bond | 2,680.00 | 118.22 | 47.70 | 589.60 | 755.52 | $1,924.48 |
C. Carlisle | 2,240.00 | 96.44 | 39.87 | 492.80 | 629.11 | $1,610.89 |
D. Dunn | 2,060.00 | 87.53 | 36.67 | 453.20 | 577.40 | $1,482.60 |
Totals | $9,460.00 | $410.51 | $168.38 | $2,081.20 | $2,660.09 | $6,799.91 |
How much must the employer send to the government for each of the statutory deductions?
Select one:
a. CPP $410.51, EI $168.38, Income Tax $2,081.20b. CPP $821.02, EI $404.11, Income Tax $2,081.20c. CPP $985.22, EI $336.76, Income Tax $2,081.20d. CPP $821.02, EI $404.11Question 8
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Question textJohn operates a small retail store and pays his employees weekly. The total gross pay is $4,000, employment insurance is $74, pension plan is $195 and taxes withheld are $840. Assuming the employers contribution is 100% for CPP and 140% for employment insurance, what is the employers total payroll expense?
Select one:
a. $4,000b. $299c. $2,891d. $4,299Question 9
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Question textIf an employees usual hourly rate is $12 per hour and they work overtime and get paid a typical overtime rate, what would their overtime hourly rate be?
Select one:
a. $6 per hourb. $24 per hourc. $12 per hourd. $18 per hourQuestion 10
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Question textTrue or False: Balances of payroll liability accounts are normally considered as non-current.
Select one:
TrueFalse
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