Chapter 5: Unemployment Compensation Taxes
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Sample Questions
Q1) The Social Security Act ordered every state to set up an unemployment compensation program.
A)True
B)False
Q2) If an employee has more than one employer during the current year,the taxable wage base applies separately to each of those employers,unless one employer has transferred the business to the second.
A)True
B)False
Q3) 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?
A) 6.2%
B) 90%
C) 5.13%
D) 20%
E) 0%
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Chapter 6: Analyzing and Journalizing Payroll
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Q1) Deductions from gross pay in the payroll register are reflected on the credit side of the journal entry to record the payroll.
A)True
B)False
Q2) If wages are paid weekly,postings to the employee's earnings record would be done once a month.
A)True
B)False
Q3) Which of the following is not an expense of the employer?
A) FUTA tax
B) FICA tax-HI
C) FICA tax-OASDI
D) SUTA tax
E) Union dues withheld
Q4) Every state allows employers to make e-payment options as a condition of employment.
A)True
B)False
Q5) Refer to Exhibit 6-1.Journalize the entry to record the payroll.
Q6) Refer to Exhibit 6-1.Journalize the entry to deposit the FICA and FIT taxes.
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