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BE166 Payroll Accounting
Chapter 6 Homework Questions for review: 5,12, 13,17,19,20 5. Garnishment refers to the legal or equitable procedure by means of which a portion of the wages of any
person must be withheld for payment of a debt. Through the garnishment process, a creditor, with the
aid of the courts, may require the employer to hold back a portion of the debtor’s wages and pay that
amount to the court or to the creditor. 12.
The employer must ﬁle a report after a speciﬁc period of time and then surrender the money to the state
as abandoned property. 13. Payroll Taxes FICA Taxes Payable — OASDI
FICA Taxes Payable — HI
FUTA Taxes Payable SUTA Taxes Payable l7. Debited: FICA Taxes Payable — OASDI
FICA Taxes Payable ~ HI
Employees FIT Payable Credited:
They are recorded in the period that the employee earns them. 20. Wages Payroll taxes Worker's Compensation Insurance
Vacation beneﬁts Pension beneﬁts ...
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- Spring '11