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payroll accounting
Payroll Accounting 2017 3rd edition Jeanette Landin, Paulette Schirmer - Solutions
Wade Pools Company files its second-quarter Form 941 on August 21, after receiving noticed from the IRS of the missing form. What is the failure to file penalty?A.2%B. 5%C. 10%D. 15%
Using the information from P5-6A, complete the attached Form 941 for second quarter 2016.Data from P5-6AVeryclear 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
What are the penalties associated with the lack of reporting and remitting payroll taxes? A. Failure to reportB. Failure to fileC. Failure to depositD. Failure to remit
Which of the mandatory withholdings have a maximum wage base?
Using the information from P5-6B, complete the attached Form 941 for third quarter 2016.Data from P5-6BFideaux 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?
Using the information from P5-6A and P5-7A for Veryclear Glassware (California Employer Account Number 999-9999-9), complete the following State of California Form DE-9, Quarterly Contribution and Report of Wages Report. Use 5.4% as the UI rate, 0.1% as the ETT rate, and 0.9% as the SDI rate. All
How did the Affordable Care Act change Medicare Tax withholding percentages?
Using the information from P5-6B and P5-7B for Fideaux, complete the following State of California Form DE-9, Quarterly Contribution and Report of Wages Report. California employer account number is 989-8877-1 Use 5.4% as the UI rate, 0.1% as the ETT rate, and 0.9% as the SDI rate. All employees
ZRT, Inc., paid its 25 employees a total of $863,428.49 during 2015.Of these wages, $5,400 is exempt fringe benefits (Section 125 cafeteria plans) and $9,850 is exempt retirement benefits (employer contributions to 401(k) plans). All employees have worked there for the full calendar year and
Blier’s Bears paid its 9 employees a total of $432,586.40 during 2015. All employees have worked there for the full calendar year and reached the FUTA wage base during the first quarter, taxes were deposited. The employer contributed $12,470 to Section 125 plans during the year (payments
Why is it important to prepare the benefit analysis report or the total compensation report?A. The reports promote employee education about the total value of their salary and benefits.B. The reports inform labor planning and employer cost strategies.C. The reports may be used as employee
Leda Inc. is located at 433 Augusta Road, Caribou, Maine, 04736, phone number 201-555-1212. The Federal EIN is 54-3910394, and a Maine Revenue Services number of 3884019. Owner, Amanda Leda has asked you to prepare Form W-2 for each of the following employees of Leda, Inc. as of December 31,
Which of the following represent the purpose(s) of the labor distribution report?
Which employers must use Schedule B?
Which of the following is a characteristic of workers' compensation?
Using the information from P5-10A 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. No third-party sick pay applied for 2016.Data from P5-10ALeda Inc. is located at 433 Augusta Road, Caribou, Maine, 04736,
Famous Flooring has employees in its manufacturing, sales, and administrative departments. Which department will have the highest rate for its workers' compensation insurance?
How do employers know that they must use Form 944?
What is Form 940?
What are the employer’s payroll responsibilities?
Wilson's 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
Francesco's Furniture is a retail furniture store. Employees are classified according to job title for workers' compensation insurance premium computation purposes.a. Based on the following payroll estimates as of January 1, what is the estimated workers' compensation insurance premium for the year
What is meant by the term labor distribution?
How do payroll records inform managers about labor distribution?
What is a benefit analysis report?
How can a manager use the benefit analysis report in the decision-making process?
How do the payroll reports inform managers about department and company profitability?
At Denniston Industries, employees have the option of choosing employer-sponsored health insurance at no additional cost or receiving additional pay so that they may purchase medical insurance elsewhere. What responsibilities does the employer have according to COBRA upon termination of an employer
Sandy is an independent contractor who is new to your company. Should you assign her compensation to the payroll clerk or to the accounts payable department? Explain.
Paolo is a salaried employee earning $84,000 per year who receives pay every two weeks. Which of the following best describes the pay frequency?a. Biweeklyb. Semimonthlyc. Weeklyd. Monthly
Frank was terminated for cause from Pineland Industries in Georgia, on August 21, 2016. As of the date of his termination, he had accrued 22 hours of regular time. Employees at Pineland are paid semimonthly on the 15th and last day of the month. Frank would like to know when he will be paid for the
Why should more than one person prepare/verify payroll processing?
On October 31, 2016, Terri quit her job after four years with Aspen Tree Service in Colorado. Aspen Tree Service pays employees weekly on Fridays. Upon quitting, Terri 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.
Quinn, a member of the Menominee Indian nation, is a new employee at Raven Enterprises. During the process of completing his I-9, his only means of identity is a Menominee Nation identification document. Is this document sufficient to verify his employment eligibility? Explain.
What documents are required in all new hire packets?
Roberto is a new employee for McGee's Windows. Which Federal forms must he complete as part of the hiring process?1. W-42. W-23. SS-a4. 1-9
Brad terminated his employment with Whiz Records on December 15, 2016. When is the earliest that Whiz Records may destroy his payroll records?
Carol is a new employee of Eartheon Batteries. She is curious about the purpose of the requirements for new hire documentation to be forwarded to government agencies. What should you tell her?
Why are new hires required to be reported to the state’s employment department?
Angela, a resident of Texas, ended her employment on December 8, 2016. The next pay date for thecompany is December, 20. By what date should she receive her final pay?
Zachary is a new payroll clerk at RC Imports, a company with 250 employees. He has completed entering all time card data for the pay period. What should Zachary's next step in the payroll review process be?1. Ask employees to verify that the time Zachary entered is accurate.2. Generate pay checks
Levon wants to start his own company. As a seasoned payroll professional, he approaches you for guidance about the differences between weekly, biweekly, and semimonthly pay periods. What would you tell him?
For the state in which you live, when must a terminated employee be paid his or her final paycheck?
Corey is a new nonexempt sales clerk for Cohen Real Estate. He completes his time card for the pay period. To ensure proper internal control, what is the next step in the payroll review process?1. Submit the time card to the payroll clerk2. Have a friend check his math for accuracy.3. Submit the
Helena is a new payroll clerk for Hope Sinks and Drains. She is curious about the purpose of the different steps in the payroll review process and asks you, her supervisor, for guidance. What would you tell her?
What are the five main payroll frequencies?
Monika is conducting a review of the payroll files for each employee. Which of the following items must be present in the file?
Pierre started as a payroll accountant at a company with 70 employees. He soon notices that the former payroll accountant had been processing payroll manually, and suggests that the company immediately switch to cloud-based payroll. Although the company is switching to an electronic payroll
What are some of the best practices in establishing a payroll system?
Kevin is preparing to compute employee pay and needs to determine the amount of employee federal income taxes to be withheld. Which of the following should he consult?
Jiana, a payroll clerk, has received a promotion and is now the payroll supervisor for her company. What document control items could now become her responsibility?
What are the different tasks involved in payroll accounting?
You are in the payroll department of Yinkeng Imports, a multistate company. The company has historically been filing employee information with each state. What alternative exists for multistate employers?
Stephanie is completing the I-9 for her new employment at Pass Time Driving School. Which of the following provides proof of her employment authorization?
Christianne is the payroll supervisor for PSN Freight. Her company is preparing to merge with another distribution company that has a different pay cycle. The president of the company wants to know the difference between biweekly and semimonthly pay cycles as far as pay dates and pay amounts. What
Complete the I-9 for employment with the Tennessee Department of Corrections. Be sure to complete the “preparer” section.Martin Allan DavisSocial Security number: 987-65-4312Date of Birth: 5-29-19755923 Bunker Hill RoadClarksville, Tennessee 38205U.S. CitizenMartin presented his driver’s
How long must employers keep terminated employee records?
What is the difference between weekly, biweekly, semi-monthly, and monthly pay periods?
Which Act created the term “Full-Time Equivalents”? What are these employee types used for?
You are the payroll accountant for your company and have been asked for information about employees and independent contractors. What are three key differences between employees and independent contractors?
Mahala 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?
Jaelle is a senior payroll administrator for Jericho Home Design. The company has 15 employees and annual revenues of $50 million. She has been using and maintaining manual payroll records for the last 20 years of her career, and the president of Jericho Home Design wants to explore options for
RaeLeene is a new manager at Resterra Inc. She is reviewing the FLSA classification of each employee, and approaches you for clarification about differences between exempt and nonexempt employees. What are three differences between exempt and nonexempt employees?
What are two laws governing the taxes that employers must withhold from employees?
Sean works as a payroll clerk at Drink Pocket 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 Sean have regarding the
Harris is the payroll accountant for 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?
Hector is an employee of a contractor that provides governmental construction services in Washington, D.C. The current contract is for $250,000. Hector is 22 and is paid $9.50 per hour. How does the Walsh-Healey Public Contracts Act affect Hector?
Charli and Sarah are friends who work for the same company. Charli manages a manufacturing department and Sarah supervises the payroll clerks. Which ethical guidelines or rules would these friends need to remember when discussing work?
Ben is a new payroll accountant at his company. 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 his options to avoid similar problems in the future?
Ovenet Inc. is a company that provides health insurance to its employees. The company is self-insured. Which of the following forms should they provide their employees to comply with the Affordable Care Act?1. 1095-A2. 1095-B3. 1095-C
During a review of payroll records, LaTieya 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 LaTieya take in this situation?
Kim-Ly is a member of the hiring board for her company. As they review candidates for a position, one of the other board members wants to exclude Eric, a man in his 50s, because his age might pose an insurance risk for the company. What law protects Eric against this practice?
What are some ways that a payroll system may protect a company in the event of a visit from a government auditor?
Michaela is a payroll accountant for Top Table 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?
A group of employees, who read on a website that income tax collection is illegal, approach Tarik, 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 Tarik tell them?
Roxie works as the payroll clerk for an agricultural firm that hires many temporary and immigrant workers on an hourly basis. What law governs the hiring or documenting of these workers?
Rosita is STB Incorporated's payroll accountant. During a casual conversation with coworkers, she learns that another co-worker is deliberately overstating the number of hours worked during each pay period because of a personal economic situation. Which ethical guidelines pertain to this situation?
Juan is the office manager and payroll clerk for his company, which is composed of 12 employees. An employee, Joe, stops by Juan's office and wants to view his payroll record. What privacy regulations must Juan consider before granting his co-worker access?
Consolidated Construction obtained a job working for a nearby international airport, a project contracted with the federal government for $500,000, welding the support structures for the new extension of the terminal. What laws govern the wages Consolidated Construction pays to their welders for
Jeff 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. What
Hunter is a candidate for the position of marketing clerk with the promotions department of a film production company earning $10.25 per hour.He will work occasional overtime in his new position and will not have managerial or supervisory duties as a regular part of his job description. Why should
Kristina is the accounting manager for a small, local firm that has full- and part-time staff. What must Kristina consider when classifying employees as exempt or nonexempt?
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