Question

The net pay is computed as follows: Select one: a. Gross pay -...

The net pay is computed as follows:

Select one:

a. Gross pay - Payroll deductions = Net payb. Gross pay + Payroll deductions = Net payc. Payroll deductions Gross pay = Net payd. Gross pay Payroll deductions = Net pay

Question 2

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If a factory worker is paid $18.00 per hour and he works 40 hours a week, what is his bi-weekly gross pay?

Select one:

a. $1,000b. $1,500c. $1,560d. $1,440

Question 3

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Net pay is the net amount:

Select one:

a. Received by the employee.b. Received by the employer.c. Received by the employee less additional amounts payable by the employer.d. The gross amount less the net amount.

Question 4

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An employer has calculated the following amounts for an employeeduring the last week of March: gross wages of $2,000, taxes withheld of $430, pension plan of $96 and employment insurance of $37. Linda's net pay is:

Select one:

a. $1,437b. $1,570c. $1,474d. $1,867

Question 5

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True or False: Statutory and voluntary deductions are the main sources of payroll deduction liability.

Select one:

TrueFalse

Question 6

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When a company remits the payroll deductions to the government, what is the correct entry to record this transaction?

Select one:

a. Debit various payroll liability accounts, credit cashb. Debit accounts payable, credit cashc. Debit various payroll liability accounts, credit salaries expensed. Debit cash, credit various payroll liability accounts

Question 7

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Use the following payroll register to answer the following question.

Payroll Register

Deductions

Name

Gross Earnings

CPP

EI

Income Tax

Total Deductions

Net Pay

A. Adams

2,480.00

108.32

44.14

545.60

698.06

$1,781.94

B. Bond

2,680.00

118.22

47.70

589.60

755.52

$1,924.48

C. Carlisle

2,240.00

96.44

39.87

492.80

629.11

$1,610.89

D. Dunn

2,060.00

87.53

36.67

453.20

577.40

$1,482.60

Totals

$9,460.00

$410.51

$168.38

$2,081.20

$2,660.09

$6,799.91

How much must the employer send to the government for each of the statutory deductions?

Select one:

a. CPP $410.51, EI $168.38, Income Tax $2,081.20b. CPP $821.02, EI $404.11, Income Tax $2,081.20c. CPP $985.22, EI $336.76, Income Tax $2,081.20d. CPP $821.02, EI $404.11

Question 8

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John operates a small retail store and pays his employees weekly. The total gross pay is $4,000, employment insurance is $74, pension plan is $195 and taxes withheld are $840. Assuming the employer's contribution is 100% for CPP and 140% for employment insurance, what is the employer's total payroll expense?

Select one:

a. $4,000b. $299c. $2,891d. $4,299

Question 9

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If an employee's usual hourly rate is $12 per hour and they work overtime and get paid a typical overtime rate, what would their overtime hourly rate be?

Select one:

a. $6 per hourb. $24 per hourc. $12 per hourd. $18 per hour

Question 10

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True or False: Balances of payroll liability accounts are normally considered as non-current.

Select one:

TrueFalse