1) The entry to record the employer's payroll taxes would include:
A) a credit to State and Federal Unemployment Tax Payable.
B) a credit to FICA-Social Security Taxes Payable and FICA-Medicare Taxes Payable.
C) a debit to Payroll Taxes Expense.
D) All of these answers are correct.
2) The entry to record the payroll tax expense would include:
A) a credit to Cash.
B) a credit to FICA (Social Security and Medicare) Taxes Payable.
C) a credit to Federal Income Taxes Payable.
D) a credit to Wages Payable.
3) The percentage of FICA-Medicare multiplied by taxable earnings on the 941 is:
A) 12.4%.
B) 6.2%.
C) 2.9%.
D) 1.45%.
4) The employer's annual Federal Unemployment Tax Return is:
A) Form 940EZ.
B) Form 8109.
C) Form 941.
D) Form W-4.
78) Workers' Compensation Insurance is:
A) paid by the employer to protect the employee against job-related injury or death.
B) paid by the employee to protect himself/herself against no-njob-related accidents and death.
C) paid by the employee to protect himself/herself against job-related accidents or death.
D) paid by the employer to protect the employee against non-job-related injury or death.