George's Gameroom had two employees with the following earnings information:

Employee	Cumulative Earnings as of 11/30/20X1	Gross Earnings for Week Ending 12/15/20X1
Barbara Brown	$ 5,900	$ 1,800
Hillary Adams	$ 128,500	$ 6,000

Use the table above and calculate how much of Hillary's December 15 paycheck is still subject to Social Security tax given that the tax is levied on the first $132,900 of annual wages and the Medicare tax rate is 1.45% on all earnings

Which of the following are employer payroll taxes:

Multiple Choice

• federal and state unemployment tax and federal income tax withheld

• federal income tax withheld and social security tax

• state unemployment tax and state income tax

• FICA (Social Security and Medicare) and federal and state unemployment taxes

To record the deposit of FUTA tax, the accountant would

Multiple Choice

• debit Payroll Taxes Expense and credit Federal Unemployment Tax Payable.

• debit Payroll Taxes Expense and credit Cash.

• debit Federal Unemployment Tax Payable and credit Cash.

• debit Social Security Taxes Payable and credit Cash.

Kristy Casey earns $39,000 per year and is paid once a month. For January, she had $188 withheld from her pay for federal income taxes, and $52 withheld for health insurance. Social Security tax is 6.2% on a maximum of $132,900 of gross wages per year, and Medicare tax is 1.45%; the federal unemployment tax rate is 0.6% and state unemployment tax rate is 4.2%. What is the total employer payroll tax expense for Kristy's January paycheck?

Multiple Choice

• $385.13

• $162.50

• $248.63

• $404.63

If an employer prepays an estimated insurance premium for workers’ compensation insurance at the beginning of the year, and then owes the insurance company at year-end after the actual insurance premium is calculated, which of the following will be part of the resulting adjusting entry?

Multiple Choice

• a debit to an asset account

• a credit to an expense account

• a credit to a liability account

• a debit to a revenue account

Answer rating: 100% (QA)

The detailed answer for the above question is provided below Answers to Payroll Problems 1 Hillarys December 15th Social Security Tax We cannot determ... View the full answer