Payroll Accounting 2017 3rd edition Jeanette Landin, Paulette Schirmer - Solutions

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Ted McCormick is a full-time life insurance agent with Centixo Insurance, a small insurance company. The company has classified him as an employee, and he feels that he should be classified as an independent contractor because he receives no company benefits and sets his own office hours. Should he
Twinte Cars, a California corporation, has internal corporate requirements that stipulate a three-year payroll document retention period. They enter into a contract with an international company that mandates a six-year payroll document retention requirement. How should Twinte Cars balance these
Ian Burns is the new payroll accountant for ECG Marketing. Certain employees have been requesting changes in classification from nonexempt to exempt. How do the U.S. Department of Labor guidelines help him answer the employees’ questions?
Aaron Tallchief is a citizen of the Northern Pomo Indian Nation. In completing his I-9, he provides an official Northern Pomo Nation birth certificate to establish identification and employment eligibility. Is this sufficient documentation? Why or why not?
You are the payroll accounting clerk for your company, Conose Advertising, which has 50 employees. The controller has recently switched the firm from an in-house payroll system to an outsourced payroll provider. What are your responsibilities within the company for payroll records and employee file
Leona Figueroa is a new employee in the payroll department of Octolium Computers. After working at the company for one week, she asks you why it is so important to submit new hire documentation. What guidance will you offer her?
You are the new payroll supervisor for your company. Which payroll documentation control procedures are now your responsibility?
Beth Caldwell is in the payroll accounting department of Acerill Films. An independent contractor of the company requests that Social Security and Medicare taxes be withheld from future compensation. What advice should Beth offer?
Henrietta Morales is a salaried employee earning $75,000 per year. Calculate the standard gross salary per pay period under each of the following payroll frequencies:a. Biweeklyb. Semimonthlyc. Weeklyd. Monthly
Susana Robledo is the office manager for Wardley and Sons Auto Detailing. Because it is a small office she is required to keep track of all employee records and pay both employees and contractors. Which are legal factors that will differentiate between exempt and nonexempt employees?
Jamie Patil is a candidate for the position of sales manager with Retrozz Furniture. She is going to be required to supervise several employees and can determine the direction in which she will complete the assignments given to her. What guidelines should she follow when classifying workers as
What are the forms of identification that establish employment authorization for the I-9?
Ginger Klein is the payroll clerk for Neolane Transportation. A colleague who is classified as an independent contractor requests to be classified as an employee. What factors should Ginger consider?
Ed Myers is verifying the accuracy and amount of information contained in the employee records for his employer, Genible Industries. Which of the items should be present in the employee information?
Alfonso Silva needs additional filing space at the end of the year in the company’s offsite, secured storage. He sees several boxes marked for the current year’s destruction. What methods can Alfonso use to dispose of the payroll records?
Charlene Kelley is a new nonexempt sales clerk for Oyondo Retail Stores. She completes her time card for the pay period. To ensure proper internal control, what is the next step in the payroll review process?
Wilbur Matthews, a resident of Wisconsin, ended his employment with Bovill Farms on December 7, 2018. The next pay date for the company is December, 20. By what date should he receive his final pay?
Lila Rivera is a new employee for Divera Glass. Which Federal forms must he complete as part of the hiring process?
Roger Ortega receives her pay twice per month working for Megaveo Enterprises. Which of the choices describes his pay frequency?
Krystal Valdez, a nonexempt employee at Misor Investments, works a standard 8:00–5:00 schedule with an hour for lunch. Krystal received overtime pay for hours in excess of 40 per week. During the week, she worked the following
What categories exist for the purposes of document retention?
What differentiates exempt and nonexempt employees?
What is the difference between termination and resignation?
How long should employee records be retained?
What documents should be included in all new hire packets?
Liliya Milic is the accountant for Syiva, a local nonprofit organization. She has been tasked with managing the costs of the payroll so that staffing levels may remain the same even if funding levels change. She considers outsourcing the payroll to a payroll processing company. What are some
You have been hired as a consultant for Dynozz Medical Software, which is facing an IRS audit of their accounting records. During your review, you notice anomalies in the payroll system involving overpayments of labor and payments to terminated employees. What would you do?
Alfredo Bellini is the payroll accountant for Pyrodono Fireworks and he has been asked for information about employees and independent contractors. What are three key differences between employees and independent contractors?
Larissa Abiodun is a senior payroll administrator for Falcive Landscape Design. The company has 15 employees and annual revenues of $10 million. She has been using and maintaining manual payroll records for the last 20 years of her career, and the president of Falcive Landscape Design wants to
Eugene Roberson works as a payroll clerk at Hyperend Inc. He shares an office with three other co-workers and must examine documents containing personal information as a regular part of his duties. Based on the provisions of the Privacy Act of 1974, what responsibilities does Eugene have regarding
Nitza Croce is an employee of Autonder, a contractor that provides governmental construction services in Washington, D.C. The current contract is for $250,000. Nitza is 22 and is paid $9.50 per hour. How does the Walsh-Healey Public Contracts Act affect Nitza?
Samuel Alescio is an accountant for Diado, a large, multinational firm. During payroll processing, he notices that the new state payroll tax updates have not been installed in the firm’s software. What ethical guidelines govern his behavior in this situation?
During a review of payroll records, Osvaldo Morena notices that a female employee in Department A is receiving a significantly lower salary than similarly skilled male employees in the same department. What actions should Osvaldo take in this situation?
Perpetua Holguin is a payroll accountant for Marore Industries. She is asked to explain the differences between exempt and nonexempt employees. What job elements should she highlight as the difference between exempt and nonexempt employees?
Clara Hudnall is Conosis Incorporated's payroll accountant. During a casual conversation with coworkers, she learns that Thorben Vinkovic, a coworker, is deliberately overstating the number of hours worked during each pay period because of a personal economic situation. Which ethical guidelines
Jolana Thomas is the payroll clerk for Telemba Communications. One of the company employees, Darijo Boon, informs Jolana that he feels he was the victim of unequal pay three years prior. What law(s) provide guidance about Darijo’s complaint?
Albina Kravitz is the payroll administrator for Exity Enterprises. Because of economic conditions, her boss has assigned her the additional duties of office management, and Albina is considering outsourcing her payroll duties. What are the pros and cons of outsourcing the company’s payroll?
Khaled Watson is the payroll accountant for Antizio Electronic, a company that engages in work on federal contracts. He wants to ensure that the company is compliant with the provisions of the Davis-Bacon Act. What is the name for process used to monitor payroll compliance in this situation?
Erkan Dioli is the payroll accountant for Prosario Imports. His most recent experience with accounting was when he was in college, which was eight years ago. What body recommends the ethical guidelines of public interest, integrity, objectivity and independence, and due care?
Paula Aggio is the accounting manager for Sugent Communications. The company has a staff that includes five full-time employees and eight on-call workers who independently determine the number of hours and their work location. The on-call consultants claim that they should be classified as
Mathias Acker is the new bookkeeper for Meganyx Enterprises, a small business consulting firm, and was hired to replace a long-time employee who retired. Upon starting the position, Mathias notices that the prior bookkeeper used a purely manual system. The company owner has said that Matias may
Gale Rana is a production worker at Gexo Manufacturing, which produces air conditioning systems. After working there for 10 years, she discovers through conversations with a colleague with the same title and similar seniority that her wage is 20 percent lower than his wage. She feels that she has
Emmett Colquhoun is a military veteran who requires many absences for medical reasons. His boss at Betri Farms has demanded that he reduce the number of sick days unless he provides his medical history. Which law(s) protect Emmett?
Cahya Russell is a new employee in the payroll department for Winhook Industries. She has had several employees approach her with questions, but is unsure how privacy regulations could affect her response. What advice would you give her about privacy laws and payroll?
Katelijn Preston is a new manager at Resterra Inc. She is looking at using the E-Verify process for new hires. What recommendations can you give her about the differences between having an employee complete the I-9 and the E-Verify process?
Libbi Alberighi and Flavia van Peij are friends who work for the same company. Libbi manages a manufacturing department and Flavia supervises the payroll clerks. Which ethical guidelines or rules would these friends need to remember when discussing work?
Kalea Germain is a warehouse worker for a small grocery market. As she was moving some merchandise, the loading dock door unexpectedly fell and injured her. How does OSHA apply to Kalea for this type of injury?
Kalea Germain is a warehouse worker for a small grocery market. As she was moving some merchandise, the loading dock door unexpectedly fell and injured her. How does OSHA apply to Kalea for this type of injury?
A group of employees, who read on a website that income tax collection is illegal, approach Hawa Furst, the controller for a large company. They request that he stop withholding income taxes from their pay unless he can explain what laws govern income tax collection. What should Hawa tell them?
Elias Motta is the office manager and payroll clerk for his company, which is composed of 12 employees. An employee, Sylvia Gladwin, stops by Elias's office and wants to view her payroll record. What privacy regulations must Elias consider before granting her co-worker access?
Jessalyn Poulsen is an accountant for his firm, a medium-sized company with 125 employees. The firm has traditionally maintained the administration of its payroll. His co-worker, the only other accountant in the firm, retires. Because of budget concerns, the firm chooses not to refill the position.
Merlin Anson owns Uninix Computers, a company with five employees. A small business owner, he has several options for payroll processing. What factors should he consider when deciding on which payroll processing option is best for Uninix Computers?The number of independent contractorsThe amount of
Julia Chaudhari is the new payroll accountant for Insulose Chemicals. She is a member of a local young professional networking organization. At a social gathering of the organization, her brother-in-law, Osher Nicastro, approached her about reviewing the company’s payroll records to help her make
Overnet Inc. is a company that provides health insurance to its employees. The company is self-insured. Which of the following forms should the company provide its employees to comply with the Affordable Care Act?1. 1095-A2. 1095-B3. 1095-C
Benson Rake is a member of the hiring board for Quambo Dynamics, a software firm. As the board reviews candidates for a position, one of the other board members wants to exclude Nicholas Mathers, a man in his 50s, because his age might mean that he would be retiring within the next 10 years. What
Martine Piccirillo works as the payroll clerk for Centinix, a security company that hires many part-time and temporary workers who are paid on an hourly basis. What law governs the hiring or documenting of these workers?
Lupore Fabrics obtained a contract in Watts Mills, South Carolina, which involves the production of materials for military uniforms, a project contracted with the federal government for $2,800,000. What laws govern the wages Lupore Fabrics pays to its workers for this project?
Which of the following accounts appear on the Balance Sheet?
How do the payroll register and employee earning record help employers meet their responsibilities to different groups, such as the employees and governmental agencies?
How can a company’s payroll information contained in financial reports assist in corporate planning?
How can companies use payroll information that is reported in the financial statements to determine labor distribution?
How do payroll expenses affect the income statement and balance sheet?
Sheronda Rowe is the payroll accountant for Great Lake Lamps. The company's management has requested an analysis of the payroll effects on the expenses of the company. Explain which accounting report(s) you would use to construct your analysis. How would explain the purpose of labor expenses as
What accounts are debited and credited for the employer share of the payroll expenses?
Managers use labor reports to do which of the following?A. Analyze Labor trends.B. Determine staffing needs.C. Ensure FLSA wage and hour compiLance.D. Formulate strategic plans for the company.
Sophie Sue Breeders has the following voluntary withholdings to remit:AFLAC payable: $560.00401(k) payable: $1,280.00 Garnishments payable: $375.00United Way contributions payable: $200.00Create the General Journal entry on June 15, 2016, for the remittance of these withheld amounts. Post
What two accounts are affected upon issuance of paychecks?
What is the purpose of payroll-related accrual and reversal entries on financial statements?A. Reversing entries represent disbursement of accrured payroll prior to the end of the pyroll period.B. Reversing entries are omitted from financial statements.C. Accrual entries are used to improve the
What is always true about trial balance reports?A. All accounts with balances are included in the report.B. Only accounts with activity during the period are included on me report.C. The report is prepared for a range of dates.D. The total of the debit column must equal the total of the credit
What are three of the accounts that may be credited for the employee payroll?
Using the employer payroll entry from P6-5A, post the employer’s share of payroll taxes for the July 15 pay at Charles’ Cleaners to the appropriate General Ledger accounts. Assume that $1,352.40 is subject to FUTA/SUTA taxes.
For the employee share of the payroll, what type of account is debited for the gross pay?
How do payroll-related expenses affect financial statements?A. Payroll expenses reduce th net income of a company.B. The perlod’s gross earnings are reported on the income StatementC. Payroll expense accouts reported on the Balance Sheet.D. Payroll expenses may be alIocable to work performed for
Using the employee pay journal entry for P6-4A, complete the General Journal entry for the issuance of the pay for the July 15 pay date. The date of the checks is July 18.Data from P6-4A Post Ref. Credit Date Debit Description Post Date Description Debit Credit Ref. Jul 12 Salaries and Wages
How does a payroll accountant use the information in the General Ledger?A. The account balances form the basis for accounting reports.B. The payroll accountant uses General Ledger balances to determine the effectiveness of individual employees.C. General Ledger account balances aggregate data to
How are the payroll register and the employee earning records related?
Using the employee payroll entry for 6-4A, post the July 15 employee pay for Charles€™ Cleaners to the selected General Ledger accounts below:Accounts: salaries and wages payableAccounts: Employee Federal Income Tax PayableAccount: Social Security Tax PayableAccount: Medicare Tax
What is always true about the General Ledger?A. The process of transferring amounts from the General Journal to the General Ledger is called posting.B. The General Ledger is a way to represent monthly groupings of entire General Journal entries.C. The General Ledger contains information about the
Which of the following principles is always true about financial accounting?A. Assets = Owners’ Equity.B. Debits = Credits.C. Assets = LiabiLities + Owners’ EquityD. Debits + Credits = Owners’ Equity.
The total of the Gross Earnings column of the payroll register for a given pay period will appear in which account for the payroll-related general journal entry?A. Salaries and Wages Payable.B. Cash.C. Salaries and Wages Expense.D. Expenses.
Which if the following are categories contained in the fundamental accounting equation?A. AssetsB. LiabilitiesC. ExpensesD. Owners’ Equity
A debit increases which of the following types of accounts?A. LiabilitiesB. ExpensesC. RevenueD. Assets
How do the payroll register and employees' earnings records connect with payroll tax determination and remittance?A. Payroll register column totals contain information about pay period tax withholdings. B. Employees' earnings records have pertinent information to determine individual taxable
What is the connection between the employees' earnings records and payroll tax reporting?A. Employees’ earnings records do not connect with payroll tax reporting.B. Employees’ earnings records may be used to ensure the accuracy of payroll tax reporting.C. Employees’ earnings records contain
Where are daily accounting entries recorded?
Which column exists in the employees' earnings records but not in the payroll register?A. Gross payB. Net payC. YTD payD. 401(k) contributions
What types of accounts does a credit increase?
What is/are the difference(s) between the rows and columns in the payroll register?A. Each row pertains to an individual employeeB. Each column represents an element in net pay computation.C. Column totals link to general journal entries.D. Row totals link to general ledger entries.
How does payroll relate to a company’s costs of doing business?
Which of the following represents the difference between benefit analysis report and the annual total compensation report?
Which of the following represent the purpose(s) of the benefit analysis report?A. Benchmarking with other companies.B- Understanding of employer and empLoyee benefits costs.C. Billing employees for benefits costs.D. Identification of opportunities for increasing profitability.
John Johnson is the accounting supervisor for Block 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 Block Furnishings?A. Timely remittance of payroll taxesB.
Which of the following is true about the cost of employees within a business context? A. Employees comprise a significant cost of conducting business.B. Hiring employees involves a significant overhead cost.C. Costs associated with employees include only salary and limited hiring expenses.D.
Fideaux is a new business owned by Lewis Brooks. His first year of operation commenced on June 1, 2016. What schedule depositor would his company be for the first year of operations?
How often must a company report 940 earnings/withholdings?
Veryclear Glassware is a new business owned by Samantha Peoples. Her first year of operation commenced on April 1, 2016. What schedule depositor would she be for the first year of operations?
What determines the deposit requirements for employer taxes?
What taxes are the shared responsibility of the employer and employee?
Which of the following is true about FUTA obligations? A. FUTA is an employer-only taxB. FUTA is subject to a 5.4% reduction based on employer and state factors.C. FUTA is subject to a $7,000 wage base per employee.D. FUTA applies to all companies.
Eyeseeyou Cameras has the following employees:Employee nameAnnual salaryMia Haskell$26,000Viktor Papadopoulos$35,000Puja Anderson$32,000Cady Billingmeier$29,000Carl Johnson$46,000Eyeseeyou Cameras’ SUTA tax rate is 5.4% and applies to the first $8,000 of employee wages. What is the annual amount

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Payroll Accounting 2017 3rd edition Jeanette Landin, Paulette Schirmer - Solutions

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