Ch 3-4 Test
Use the following tax rates, ceiling and maximum taxes:
Employee and Employer OASDI:
Employee* and Employer HI:
The taxes imposed under the Social Security Act consist of:
*OASDI and HI taxes, two taxes on employees, two taxes on employers, taxes on the net
earnings of the self-employed
All of these choices are correct.
The FICA tax rates for the self-employe
Ch 4: Payroll Accounting-Withholding
Trowbridge Company has just completed the processing of its year-end payroll and distributed
all the weekly paychecks. The payroll department is now computing the amount of the annual
bonus to be given to each worke
Accounting 218 W01
The Need for Payroll and Personnel Records: Questions for
1. Which act sets the minimum wage, and what is the current wage rate?
The Fair Labor Standards Act (FLSA) referred to as the Federal Wage and Hour
Law. The current wage r
CH 3 PR. 3.01A
In 20- the annual salaries paid each of the officers of Abrew, Inc., follow. The
officers are paid semimonthly on the 15th and the last day of the month. Compute
the FICA taxes to be withheld from each officer's pay on (a) November 15 and (
Mattola Company is giving each of its employees a holiday bonus of $100 on December 10 (a nonpayday]. The company wants each employee's check to be $100. The supplemental tax percent is used.
Round your calculations and answers to the nearest cent.
Use (a) the percentage method and (b) the wage-bracket method to compute
the federal income taxes to withhold from the wages or salaries of each
employee. Enter all amounts as positive numbers. Round your calculations
and final answers to the n
Ch 4: Payroll Accounting
The personal allowance amount is deducted from the employee's income in computing
taxable income. In 2015, the amount of a personal allowance was $4,000 .
A personal allowance is a deduction allowed in computing taxabl
Chapter 4 QFR: Payroll Accounting
How is the amount of a fringe benefit that is taxable to an employee determined?
It includes the amounts the employer pays for medical and dental insurance.
It is the amount by which the fair market value of the fringe
Chapter 3-4 Test
1. Under the federal income tax withholding law, which of the following
is not defined as an employee?
Partner who draws compensation for services rendered the
2. Arch gives you an amended Form W-4 dated March 11, 2016 on whic
Chapter 4 Prob
Note: In this chapter and in all succeeding work throughout the course, unless
instructed otherwise, calculate hourly rates and overtime rates as follows:
1. Carry the hourly rate and the overtime rate to 3 decimal places and then