c10[2] - 1 Generally,' StudentResponse 1 False 2 True 0...

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1.   Generally, all deductions made from an employee's gross pay are required by law.    Student Response Value Correct Answer Feedback 1.  False      2. True 0%       Score: 0/1    2.   The total earnings of an employee for a payroll period is referred to as    Score: 1/1    3.   The journal entry a company uses to record pension rights that have  not  been funded for its salaried  employees, at the end of the year is   
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  Score: 0/1    4.   One of the more popular defined contribution plans is the 401k plan.    Score: 1/1    5.   The journal entry to record the conversion of an $550 accounts payable on January 31 to a notes payable  would be:    Score: 0/1 
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  6.   An unfunded pension liability is reported on the balance sheet as    Score: 0/1    7.   Internal controls for cash payments also apply to payrolls.    Score: 1/1    8.   Zennia Company provides its employees with varying amount of vacation per year, depending on the length of  employment.  The estimated amount of the current year’s vacation cost is $165,000.  The journal entry to  record the adjusting entry required on December 31, the end of the current year, to record the current month’s  accrued vacation pay is 
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  Score: 0/1    9.   The journal entry a company uses to record accrued vacation privileges for its employees at the end of the year  is    Score: 1/1    10.   Federal unemployment compensation taxes that are collected by the federal government are  not  paid directly  to the unemployed but are allocated among the states for use in state programs.    Score:
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1/1    11.   An employee receives an hourly rate of $15, with time and a half for all hours worked in excess of 40 during the  week. Payroll data for the current week are as follows: hours worked, 48; federal income tax withheld, $120;  cumulative earnings for the year prior to this week, $24,500; Social security tax rate, 6% on maximum of  $100,000; and Medicare tax rate, 1.5% on all earnings; state unemployment compensation tax, 3.4% on the  first $7,000; federal unemployment compensation tax, .8% on the first $7,000. What is the employer's payroll tax  expense?    Score: 0/1    12.   If, prior to the last weekly payroll period of the calendar year, the cumulative earnings for an employee are  $98,800, earnings subject to social security tax are $100,000, and the tax rate is 6.0%, the employer's social  security tax on the $2,000 gross earnings paid on the last day of the year is $120.    Score: 1/1    13.
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  An employee receives an hourly rate of $30, with time and a half for all hours worked in excess of 40 during a  week.  Payroll data for the current week are as follows: hours worked, 46; federal income tax withheld, $300; 
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