1. The total of the cash column in the cash receipts journal is
A. $13,257.20
B. $7,257.20
C. $13,167.20
D. $7,167.20
2. The total of the sales journal for the month is
A. $7,485.
B. $5,985.
C. $7,345.
D. $5,895.
3. Which of the following transactions will appear in the general journal?
A. May 7
B. May 7 and 13
C. May 13
D. May 7, 13, and 27
4. The total of the purchases journal on June 30 is
A. $23,520.
B. $22,020.
C. $23,000.
D. $21,500.
5. The total of the sales discount in the cash receipts journal is
A. $92.10.
B. $137.50.
C. $130.30.
D. $195.40.
6. Entries were recorded in the general journal for transactions on
A. June 1, 5, and 17.
B. June 1, 2, and 30.
C. June 2, 17, and 30.
D. June 2, 5, and 17.
7. How many entries were made in the Other Accounts column of the cash payments journal?
A. 5
B. 7
C. 6
D. 8
8. On June 30, the totals of the purchases journal and the Accounts Payable column of the cash payments journal are posted to the Accounts Payable general ledger account. In addition, individual postings are made from the general journal. After these entries have been posted to the general ledger from the journals, the balance in the accounts payable account is
A. $21,500.
C. $8,200.
B. $8,430.
D. $7,680.
9. Which one of the following does not apply to payroll accounting?
A. The calculations of the amount of taxes payable to the city.
B. The recording of amounts owed to each employee for each pay period.
C. The calculation of the amount to be accrued to each accounting period for General Expenses.
D. Determining the proper amounts to be withheld from employees' paycheques.
10. Timesheets would be used in which one of the following payroll methods?
A. Straight salary
B. Hourly payroll
C. Piecework rate
D. Commission
11. Which one of the following headings would not be used on a straight-salary method?
A. Group Insurance
B. Federal Income Tax
C. Overtime Pay
D. Pension Plan
12. Which one of the following would affect a company's profit-and-loss statement?
A. Sale Salaries
B. Pension Plan Payable
C. Group Insurance Payable
D. Prepaid Insurance
13. Which one of the following individuals is on straight salary?
A. L. Walker
B. R. Spear
C. F. Cole
D. J. Peters
14. If J. William's fifty dollar payment was for an advance, where and when would the fifty dollars be taxed?
A. On tax forms at the end of the year
B. At the time that his advance was issued
C. It has already been taxed on the gross amount of his paycheque
D. None of these
15. What form of payroll is B. Jones on?
A. Piecework
B. Commission
C. Hourly pay
D. Straight salary
16. What information is not found on the payroll register?
A. Type of payroll used
B. Gross salary
C. Number of exemptions claimed
D. Pension Plan payments
17. What special journal can be used when paycheques are written on a company's regular bank account?
A. Cash receipts
B. Cash payments
C. Sales
D. None of these
18. For which type of business would piecework payroll be best suited?
A. Assembly line
B. Sales
C. Shipbuilding
D. Banking
19. Which one of the following payroll plans resembles piecework in principle?
A. Commission
B. Straight salary
C. Hourly
D. None of these
20. Mr. Patterson is paid through the piecework method at $100 for each 1,000 units. He did 6,000 units of work and had these deductions: FIT $12.50 PIT $10.00 UIC $6.00 Medicare $2.50 Union $8.00 What is Mr. Patterson's gross pay?
A. $500
B. $600
C. $561
D. $650