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Question 1 Find the federal withholding tax using the wage bracket method for the following employee. Skinner: 1 withholding allowance, single,...

Question 1

Find the federal withholding tax using the wage bracket method for the following employee.


C. Skinner: 1 withholding allowance, single, $523.50 weekly earnings

Question 1 options:


$64


$30


$53


$39


Question 2

Frisch's Used Appliances has the following credit card transactions during a recent period.


Sales Credits

$189.26 $503.74 $248.27


$153.94 $178.14 $219.06


$63.18


$87.04


$213.45


$152.19


Find the total amount of credit-card sales.


Question 2 options:


$1,555.59


$452.68


$1,794.82


$2,008.27

Question 3

Complete the following payroll ledger. Find the total gross earnings for the employee. Time and a half is paid on all hours over 40 in one week.


Employee Hours Worked Reg. Hr. O.T. Hr. Reg. Rate Gross Earnings

Pruitt 48.75 $8.20

Fresno 51.5 $10.40

What are the gross earnings for Pruitt?


Question 3 options:


$399.75


$599.63


$435.63


$336.75

Question 4 (5 points) Question 4 Unsaved

Eagle Windows had the following credit-card transactions during a recent period.


Sales Credits

$17.19 $24.36 $48.22


$74.36 $34.19 $26.20


$13.47 $21.18


$24.36


$25.17


$18.29


What is the total amount of the refunds?


Question 4 options:


$142.24


$67.82


$74.42


$259.17

Question 5 (5 points) Question 5 Unsaved

Eagle Windows had the following credit-card transactions during a recent period.


Sales Credits

$17.19 $24.36 $48.22


$74.36 $34.19 $26.20


$13.47 $21.18


$24.36


$25.17


$18.29


Assuming that the bank charges the retailer a 412% fee, find the amount of the fee at the statement date.


Question 5 options:


$14.71


$5.26


$8.61


$11.37

Question 6 (5 points) Question 6 Unsaved

Lynn Fergus receives a commission of 6% for selling a $238,000 house. One-fourth of the commission goes to the broker, and one-half of the remainder to another salesperson. Fergus receives the rest. Find the amount she receives.

Question 6 options:


$3,570


$1,785


$14,280


$5,355

Question 7 (5 points) Question 7 Unsaved

An employee is paid a salary of $11,725 per month. If the current FICA rate is 6.2% on the first $115,000 of earnings, how much should be withheld for FICA tax during April?

Question 7 options:


$170.01


$726.95


$896.96


$145.39

Question 8 (5 points) Question 8 Unsaved

Find the Social Security tax for the following self-employed person. Use a FICA tax rate of 12.4%.


Gleason: $39,023.35

Question 8 options:


$6,321.10


$4,838.90


$3,160.55


$2,419.45

Question 9 (5 points) Question 9 Unsaved

Frisch's Used Appliances has the following credit card transactions during a recent period.


Sales Credits

$189.26 $503.74 $248.27


$153.94 $178.14 $219.06


$63.18


$87.04


$213.45


$152.19


Find credit-card sales less refunds.


Question 9 options:


$950.72


$1,102.91


$2,008.27


$635.58

Question 10 (5 points) Question 10 Unsaved

A salesperson is paid $385 per week plus a commission of 5.5% on all sales. The salesperson sold $448 worth of goods on Monday, $495 on Tuesday, $742 on Wednesday, $907 on Thursday, and $502 on Friday. Returns and allowances for the week were $207. Find this employee's Medicare tax (1.45%).

Question 10 options:


$7.88


$5.05


$2.94


$8.21

Question 11 (5 points) Question 11 Unsaved

Complete the following payroll ledger. Find the total gross earnings for the employee. Time and a half is paid on all hours over 40 in one week.


Employee Hours Worked Reg. Hr. O.T. Hr. Reg. Rate Gross Earnings

Pruitt 48.75 $8.20

Fresno 51.5 $10.40

What are the gross earnings for Fresno?


Question 11 options:


$595.40


$535.60


$427.5


$803.40

Question 12 (5 points) Question 12 Unsaved

At Tony's Toy Factory, assemblers are paid according to the following differential piece rate scale: 1 40 dolls in a week, $7.50 each; 41 60 dolls, $9.50 each; and $11.25 each for every doll over 60. Jenny Meyers assembled 66 dolls in one week. Find her gross pay.

Question 12 options:


$637.50


$557.50


$495.00


$742.50

Question 13 (5 points) Question 13 Unsaved

Alice Parker is paid $35,602 annually. Find the equivalent earnings if 

this amount is paid semimonthly.

Question 13 options:


$2,966.83


$1,369.31


$1,483.42


$684.65

Question 14 (5 points) Question 14 Unsaved

Eagle Windows had the following credit-card transactions during a recent period.


Sales Credits

$17.19 $24.36 $48.22


$74.36 $34.19 $26.20


$13.47 $21.18


$24.36


$25.17


$18.29


Find the amount of the credit given to Eagle Windows after the fee is subtracted.


Question 14 options:


$312.28


$182.74


$241.20


$111.67

Question 15 (5 points) Question 15 Unsaved

Find the federal withholding tax using the wage bracket method for the following employee.


Jose Salerno: 2 withholding allowance, married, $546.82 weekly earnings

Question 15 options:


$45


$24


$32


$56

Question 16 (5 points) Question 16 Unsaved

Kathy Madoff earned $112,813.56 so far this year. This week she earned $2413.88. Find her FICA tax for this week's earnings.

Question 16 options:


$35.00


$135.56


$149.66


$31.70

Question 17 (5 points) Question 17 Unsaved

Find the federal withholding tax using the wage bracket method for the following employee.


Li Chen: 2 withholding allowances, married, $2513.45 monthly earnings

Question 17 options:


$119


$264


$217


$154

Question 18 (5 points) Question 18 Unsaved

Frisch's Used Appliances has the following credit card transactions during a recent period.


Sales Credits

$189.26 $503.74 $248.27


$153.94 $178.14 $219.06


$63.18


$87.04


$213.45


$152.19


What is the total amount of the refunds?


Question 18 options:


$515.86


$1,555.59


$920.01


$452.68

Question 19 (5 points) Question 19 Unsaved

Find the Social Security tax for the following self-employed person. Use a FICA tax rate of 12.4%. Castro: $45,219.33

Question 19 options:


$5,552.80


$2,776.40


$5,607.20


$2,803.60

Question 20 (5 points) Question 20 Unsaved

Average Balance Maintenance Charge Per Month Per-Check Charge

Less than $500 $12.00 $0.20

$500 - $1,999 $7.50 $0.20

$2,000 - $4,999 $5.00 $0.10

$5,000 or more $0 $0


Use the table above to find the monthly checking-account service charge for the following account.


Metro Auto Lock, 23 checks, average balance $7,900

Question 20 options:


$0


$7.30


$16.60


$12.10

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