Payroll Accounting 2018 4th edition Jeanette Landin, Paulette Schirmer - Solutions

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CT1-1. You have been hired as a Dynozz Medical Software consultant, facing an IRS audit of its accounting records. During your review, you notice anomalies in the payroll system involving overpayments for labor and payments to terminated employees.What should you do?
CT1-2. You are the accountant for Cryologic, a local nonprofit organization. You have been tasked with managing the payroll costs so that staffing levels can remain the same even if funding levels change. One consideration is outsourcing the payroll functions to a payroll processing company. What
1. Should the franchisees be held liable as joint employers with Domino’s? Why or why not?Domino’s Pizza franchises in New York were sued by the state of New York for wage theft at 10 stores. Under New York law, a corporation and a franchiser are joint employers if they meet certain employee
2. Which laws pertain to employee wages? How would they apply in this situation?Domino’s Pizza franchises in New York were sued by the state of New York for wage theft at 10 stores. Under New York law, a corporation and a franchiser are joint employers if they meet certain employee control
3. What could be done to ensure future legal compliance?Domino’s Pizza franchises in New York were sued by the state of New York for wage theft at 10 stores. Under New York law, a corporation and a franchiser are joint employers if they meet certain employee control criteria. The state found that
1-3. Want to know more about the specifics of some of the concepts in this chapter?Check out these websites:www.dol.gov/whd/www.taxhistory.com/1943.html www.workerscompensationinsurance.com connecteam.com/employee-time-clock-app/www.adp.com www.paychex.com
E1-8B. Match the following items with their definitions: Respect for Marriage Acta. A provision of the Sarbanes–Oxley Act.b. Instituted a tiered income tax on workers.c. Prohibited employment of individuals younger than 16 years of age.d. Strengthened the child support provisions of PRWOR.e.
Karen Kluster opened Lube and Wash on January 2, 2018. The business is subject to FICA taxes. At the end of the first quarter of 2018, Kluster, as president of the company, must file Form 941, Employer’s Quarterly Federal Tax Return. Using Form 941(Parts 1 through 5), reproduced on pages 3-45 and
Refer to the partially completed payroll register which you worked on at the end of Chapter 3. You will now determine the amount of income tax to withhold for each employee, proceeding as follows:1. In the appropriate columns of your payroll register, record the marital status and number of
Refer to the partially completed payroll register you started at the end of Chapter 2. You will now determine the amount of FICA taxes to be withheld from each employee’s pay for the pay period ending January 8, 20--.1. In the Taxable Earnings columns, record the amount of each employee’s
Refer to the partially completed payroll register that you worked on at the end of Chapter 4. Complete the SUTA deduction column—employees pay 0.07% on total gross pay. You will now compute the employer’s liability for unemployment taxes (FUTA and SUTA) for the pay of January 14. These
Refer to the partially completed payroll register that you worked on at the end of Chapter 4. Complete the SUTA deduction column—employees pay 0.07% on total gross pay. You will now compute the employer’s liability for unemployment taxes (FUTA and SUTA) for the pay of January 14. These
Kip Bowman is owner and sole employee of KB Corporation. He pays himself a salary of $1,500 each week.Additional tax information includes:FICA tax—OASDI..................................................................... 6.2% on first $127,200FICA
In the Continuing Payroll Problem B, presented at the end of succeeding chapters, you will gain experience in computing wages and salaries and preparing a payroll register for Olney Company, Inc., a newly formed corporation.At the end of subsequent chapters, information will be presented so that
Investigate your state’s income tax withholding law (or that of some other state assigned by your instructor), and find the answers to the following questions:a. Who must withhold the tax?b. How are covered employers and covered employees defined?c. Are there any reciprocal agreements into which
Check the unemployment compensation law of your state and determine the answers to the following questions:a. How do nonprofit organizations, subject to coverage, make payments to the unemployment compensation fund?b. Can part-time teachers collect unemployment compensation between school terms?c.
In this last phase of your work on the Continuing Payroll Problem A, you will record the amounts withheld for group and health insurance and calculate the net pay for each employee. Refer to the partially completed payroll registers upon which you were working at the end of Chapter 5, and proceed
In this last phase of your work on the Continuing Payroll Problem B, you will record the amounts withheld for group and health insurance and calculate the net pay for each employee. Refer to the partially completed payroll registers upon which you were working at the end of Chapter 5, and proceed
For Happy Panda Fashions in P6-13B, compute the Labor distribution based on the number of employees per department: Sales: 14 Factory: 26 Administration: 12
Happy Panda Fashions has 52 employees distributed among the following departments: Sales: 14 Factory: 26 Administration: 12
Cloudy Night Signs is a company that makes custom signs and has 12 employees. The owner wants to perform a benefits analysis report for one of its employees, Howard Nelson. Howard’s benefits package is as follows:
Using the information from P6-6B, complete the attached Form 941 for third quarter 2017.
Peaceful Cat Pet Foods is a new business owned by Sylvester Hammond. His first year of operation commenced on June 1, 2017. What schedule depositor would his company be for the first year of operations?
Howard Murphy is the owner of Stormy Banana Films in West Hollywood, California. Stormy Banana Films had 15 employees with total annual wages of $214,750 (no one exceeded the Medicare tax surcharge or Social Security cap). The FUTA rate for California in 2017 is 2.2 percent because it is a credit
Rosalie Watts earned $155,000 in 2017 for Sad Orange Web Design in King of Prussia, Pennsylvania. Sad Orange’s SUTA rate is 4.8 percent and has a wage base for 2017 of $9,750. Compute Sad Orange Web Design’s share of Rosalie’s salary.
Deep Moose Designs has 22 employees within Denver City & County. The employees each made $9.50 per hour and worked and worked 160 hours each during the month. The employer must remit $4.00 per month per employee that earns more than $500 per month. Additionally, employees who earn more than
To which parties does an employer have fiduciary duty when it incurs payroll liabilities?
What is true about expenses and liabilities?
Which of the following information exists in both the employees' earnings records and the payroll register?
Which law governs the fiduciary responsibility that employers have with regards to the employee’s payroll deductions?
The purpose of a labor report is to do what?
Which of the following accounts would appear on the income statement?
What is the term for the responsibility that employers have for payroll deductions under ERISA?
Once recorded, to what are the entries posted?
What types of accounts does a debit increase?
Burtin Book Memorabilia is a semiweekly depositor. Following the success of a special project, Kelly Burton, the owner, pays each of the 250 employees a $20,000 bonus on August 16, 2017. Assuming a 25% income tax rate, when will Maggie need to deposit the payroll taxes?
Black Sheep Printing has 35 employees distributed among the following departments:
For Black Sheep Printing in P6-13A, compute the Labor distribution based on the number of employees per department:
Clark Patrick owns Camel Customs, a company that restores vintage Ford Mustangs. He has seven employees. Clark wants to perform a benefits analysis report for one of his employees, Gayle Rowe. Gayle’s benefits package is as follows:
Using the information from P6-6A, complete the attached Form 941 for second quarter 2017.
Veryclear Glassware is a new business owned by Samantha Peoples, the company president, Her first year of operation commenced on April 1, 2017. What schedule depositor would she be for the first year of operations?
Using the information from P6-4A, compute the employer’s share of the taxes. The FUTA rate for Kentucky for 2017 is .6% on the first $7,000 of employee wages, and the SUTA rate for the company in Kentuckyis 5.4% with a wage base of $10,200.
Joseph Farmer earned $68,000 in 2017 for a company in Kentucky. He is single with 1 withholding allowance and is paid annually. Compute the following employee share of the taxesusing the percentage method in Appendix C.
Sunny Day Flooring has employees in its manufacturing, sales, and administrative departments. Which department will have the highest rate for its workers' compensation insurance?
Winston Briggs is the accounting supervisor for Cheeky Cat Furnishings, which has chosen to maintain their payroll on an in-house basis for this purpose and has hired new accounting clerks. Which of the following are payroll responsibilities of Cheeky Cat Furnishings?
Joyce Hunter is new payroll accountant with Rainy Snake Products in Sparks, Nevada. The company had a payroll tax liability of $250,350 during the most recent look-back period. For the quarter ending September 30, 20XX, which federal form(s) should he file?
The Foggy Snail Theater has annual payroll taxes of $49,250 during the most recent look-back period. Which payroll deposit frequency will they have, based on that look-back period?
As of 2017, which of the following accurately represents the full FUTA rate and wage base?
Which of the following list is/are employer-only payroll obligations?
Margarita Sutton is preparing a training session for her colleagues about payroll check fraud. Which of the following may be indicators of check fraud?
Which of the following states does not withhold employee income tax?
Which of the following is true about employee pay methods?
Scout Freeman is the vice present for marketing at Sun Field Industries. She earns $140,000 annually and is paid on a semimonthly basis. As of October 31, Scout has year-to-date earnings of $116,666.67. The Social Security wage base is $127,200. What is the maximum amount of her taxable earnings
Chastity Santos is in the process of computing net pay for the employees of Happy Crab Marketing. Which of the following steps should she do after determining the amount of gross pay?
Petra Stevens is the accountant for FAB Products, a newly formed company. She is exploring employee pay methods. Which of the following describes a method in which employee earnings is transferred automatically from the employer's bank account to the employee's bank account?
Which of the following are the rates for Social Security and Medicare taxes, respectively?
Malcolm’s employer offers him the option to use the cents-per-mile rule instead of the lease value rule for 2017. Which method will yield the lower gross income for Malcolm?
Arla Dodson is the payroll accountant for Penn & Associates Investments. The company owner decided on December 15, 2017 that he would invoke the special accounting rule. By what date does Arla need to notify the affected employees that the rule is being used?
Rodney Atwater is a sales representative for American Silk Mills. Because he visits customer sites, he has a company car. He drove 25,500 miles during 2017, of which he reported 15 percent was personal miles. Using the cents-per-mile rule, what is the valuation of this benefit for 2017?
Jewel Lyman is an employee in the office of Salvaggio& Wheelers, Attorneys at Law. She received the following benefits during 2017:Medical insurance, $250 per monthCommuter pass, $500 per monthEmployer-paid membership to Anytime Gym, $75 per yearDependent care assistance, $3,600 per year
To which two months does the special accounting rule pertain to?
Which of the following is a co-requisite of a health savings account (HSA)?
Robin Mendez is an employee of Pharmiceutics, LLC. She is a traveling salesperson who routinely meets with customers at their places of business. Which of the following fringe benefits would be appropriate for her employer to provide for Robin to conduct business?
Which of the following fringe benefits is exempt from federal income tax but subject to FICA tax?
What are three examples of voluntary fringe benefits?
Joshua Peterson is a sales assistant for Cogindu Connectors whose normal commute time is 30 minutes each direction. At the beginning of his shift one day, his employer requires him to pick up a package from a customer before arriving at work. He spends 1 hour driving to the customer site, and then
Jacques Beasley is a salaried nonexempt accounting clerk for Verent Enterprises who is contracted to work 45 hours per week. How should his overtime be determined, according to FLSA?
Julie Stevens is a tipped employee at the Neovee Resort in Hawaii. What is the minimum tipped wage for her area, assuming she receives in excess of $20 in tips per pay period?
Barbara Hampton is a minimum-wage worker in Ohio. She is contemplating moving to a state with a more favorable minimum wage. Which of the following states should she choose?
Joseph Lyons was terminated for cause from Telecy Industries in Hawaii, on August 21, 2017. As of the date of his termination, he had accrued 22 hours of regular time. Employees at Telecy are paid semimonthly on the 15th and last day of the month. Joseph would like to know when he will be paid for
The controller has requested your assistance to price various accounting software programs available for document retention, payroll preparation, and financial reporting. What requirements should you ensure are present in the computer program?
You are the payroll accounting clerk for your company, Conose Advertising, which has 50 employees. The controller has asked for assistance in determining which accounting software package is best suited to the company's payroll needs. What factors should you consider in your decision?
Adrienne Norman terminated her employment with Univee Inc. on December 15, 2017. When is the earliest that Univee Inc. may destroy her payroll records?
On October 31, 2017, Dolores Goodman quit her job after ten years with Omnivue Optics in Utah. Omnivue Optics pays employees weekly on Fridays. Upon quitting, Dolores had 38.5 hours of vacation accrued that she had not used, and she had worked 45 hours, 5 hours of which was subject to overtime.
Katelijn Preston is a new manager at Resterra Inc. She is reviewing the payroll records and notices discrepancies between the actual number of employees employed and the number of employees being paid, and is concerned about potential payroll fraud. How should she investigate this issue? Which
Grant Saunders is a salaried employee earning $84,000 per year who receives pay every two weeks. Which of the following best describes the pay frequency?
Ennis Locatelliis a new payroll accountant at Avata Electronics. In his review of previous manual payroll records, he noted several errors that required the issuance of additional checks to employees for unpaid payroll amounts. What are Ennis’s options to avoid similar problems in the future?
Hayim Accardi is the accounting manager for a small, local firm that has full- and part-time staff. How do FLSA guidelines regarding working hours apply to Hayim's employees?
MATCH THE FOLLOWING TERMS WITH THEIR DEFINITIONS:USERRAA provision of the Sarbanes–Oxley ActU.S. v. WindsorProtects the confidentiality of employee medical recordsMandatory auditor rotationMandates completion of form I-9HIPPAThe case responsible for the U.S. Supreme Court’s repeal of DOMALilly
You are interviewing for a position with Limelight Photography. The president of the company, Emma Jankiewicz, asks you to explain how payroll is both an expense and a liability of the company. How will you answer her?
Using the employer payroll entry from P7-4A, post the employer’s share of payroll taxes for the July 14 pay at Charles’ Cleaners to the appropriate General Ledger accounts. Assume that $1,352.40 is subject to FUTA/SUTA taxes.In Problem P7-1ACharles Merrill owns a housekeeping service,
Using the employer payroll entry from P7-4B, post the employer’s share of payroll taxes for the September 15 pay at Cosmic Comics to the appropriate General Ledger accounts:In P7-1BTony Stanford owns Cosmic Comics in Greensboro, NC. For the weekly payroll dated September 15, 2017, complete the
Using the employee pay journal entry for P7-3A, complete the General Journal entry for the issuance of the pay for the July 14 pay date. The date of the checks is July 18, 2017.In Problem P7-1ACharles Merrill owns a housekeeping service, Charles’ Cleaners, in Florida. For the weekly payroll
Using the employee payroll entry from P7-3B, complete the General Journal entry for the issuance of Cosmic Comics’ pay for the September 18, 2017 pay date.In P7-1BTony Stanford owns Cosmic Comics in Greensboro, NC. For the weekly payroll dated September 15, 2017, complete the payroll register.
Using the employee payroll entry for P7-3A, post the July 14 employee pay for Charles’ Cleaners to the selected General Ledger accounts below:In Problem P7-1ACharles Merrill owns a housekeeping service, Charles’ Cleaners, in Florida. For the weekly payroll endingJuly 14, 2017, checks dated July
Using the employee payroll entry from P7-1B, post the September 15 employee pay for Cosmic Comics to the selected General Ledger accounts below:In P7-1BTony Stanford owns Cosmic Comics in Greensboro, NC. For the weekly payroll dated September 15, 2017, complete the payroll register. Checkswill be
Using the payroll register from P7-1A for Charles’ Cleaners, complete the General Journal Entry for the employer’s share of the payroll taxes for the July 14 pay date. Assume 5.4% SUTA Tax, and 0.6% FUTA tax rates and $1,352.40 is subject to FUTA/SUTA taxes.In Problem P7-1ACharles Merrill owns
Using the payroll register from P7-1B for Cosmic Comics, complete the General Journal Entry for the employer’s share of the payroll taxes for the September 15, 2017 pay date. Assume a 5.4% SUTA rate and 0.6% FUTA rate and that $954.05 of the gross pay is subject to SUTA/FUTA taxes.In P7-1BTony
Using the payroll register from P7-1A forCosmic Cleaners, complete the General Journal entry for the employees’ pay for the July 14 pay date. Paychecks will be issued on July 18.In Problem P7-1ACharles Merrill owns a housekeeping service, Charles’ Cleaners, in Florida. For the weekly payroll
Using the payroll register from P7-1B for Cosmic Comics, complete the General Journal entry for the employees’ pay for the September 15, 2017 pay date. Employees’ paychecks will be issued on September 19.In P7-1BTony Stanford owns Cosmic Comics in Greensboro, NC. For the weekly payroll dated
Below is the Employee Earnings Record for Ally Murner of Cosmic Comics. Record her earnings on the September 15, 2017 pay from P7-1B.In P7-1BTony Stanford owns Cosmic Comics in Greensboro, NC. For the weekly payroll dated September 15, 2017, complete the payroll register. Checkswill be issued on
What follows is the employee earnings record for Sean Steverman of Charles’ Cleaners. Record his earnings from the July 145 pay in P7-1A.In Problem P7-1ACharles Merrill owns a housekeeping service, Charles’ Cleaners, in Florida. For the weekly payroll endingJuly 14, 2017, checks dated July 18,
Giblin’s Goodies pays employees weekly on Fridays. However, the company notices that August 31 is a Thursday, and the pay period will end on September 1. The payroll data for August 31-September 1 is as follows:DateDescriptionPost Ref.DebitCredit1 Aug31 Salaries and Wages Expense2
Tony Stanford owns Cosmic Comics in Greensboro, NC. For the weekly payroll dated September 15, 2017, complete the payroll register. Checkswill be issued on September 19, 2017. Use the wage bracket method in the federal tax table in Appendix C. Assume 5.8% state income tax. No employee has exceeded
Charles Merrill owns a housekeeping service, Charles’ Cleaners, in Florida. For the weekly payroll endingJuly 14, 2017, checks dated July 18, 2017, complete the payroll register. Use the wage bracket method in the federal tax table in Appendix C. No employee has exceeded the Social Security tax
Small Orange Fine Foods is a specialty grocery store. The employees are classified according to job titles for workers' compensation insurance premium computation purposes.a. Based on the payroll estimates as of January 1, what is the total estimated workers' compensation premium for 20XX?b. The
Using the information from P6-10B for Castor Corporation, complete Form W-3 that must accompany the company's Forms W-2. Castor Corporation is a 941-SS payer and is a private, for-profit company. No third-party sick pay applied for 2017. The W-3 was signed and submitted January 12, 2018.
Using the information from P6-10A for Leda Inc., complete Form W-3 that must accompany the company's Forms W-2. Leda Inc. is a 941-SS payer and is a private, for-profit company. Amanda Leda is the owner; phone number is 207-555-8978; no email address to disclose; fax number is 207-555-9898. No
Philip Castor, owner of Castor Corporation is located at 1310 Garrick Way, Sun Valley, Arizona, 86029, phone number 928-555-8842. The Federal EIN is 20-1943848, and the state employer identification number is 9040-2038-1. Prepare Form W-2 for each of the following employees of Castor Corporation as

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Payroll Accounting 2018 4th edition Jeanette Landin, Paulette Schirmer - Solutions

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