Chapter 13 Accounting 1: Last update: 3/15/15 Click to start game

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$1,000 Question The Coupon Deposit form that is sent with the employer’s check to show the amount of taxes being sent to the federal government. Form 8109 Form 941 Form W-3

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$2,000 Question What is the source document used for recording the payment of payroll in the general journal? General Ledger Employee Earnings Record Payroll Register

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$3,000 Question Which form reports the employer’s unemployment taxes? Form W-2 Form 941 Form 940

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$4,000 Question Which form would be used to prepare the Quarterly federal tax payment by an employer?

$5,000 Question Federal Income Tax and FICA taxes are due… Semi-monthly before the 15th Every quarterBy the 15th of the following month

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$6,000 Question These taxes are usually paid only by the employer and used to pay for workers who are temporarily out of work. Employs Federal Income Tax Social Security Tax Unemployment taxes

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$7,000 Question Which form summarizes an employee's earnings and withholdings for a calendar year? 940 W3 941W2

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$8,000 Question Which payable account would you use to record the Federal Unemployment Taxes? FUTA Tax Payable SS Tax Payable SUTA Tax Payable Medicare Tax Payable

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$9,000 Question Which payable account would you use to record the State Unemployment Taxes? FUTA Payable SS Tax Payable SUTA PayableMedicare Tax Payable

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$10,000 Question Which account would you use to record the total gross earnings for a pay period? Payroll Taxes Expense Cash in Bank Salary Expense

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$12,000 Question Which account would you use to record net pay for a pay period? Payroll Taxes Expense Salary Expense Cash in Bank Liabilities accounts

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$15,000 Question State Unemployment Tax Payable has a normal ___ balance. DebitCredit NA

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$20,000 Question U. S. Savings Bonds Payable has a normal ___ balance. DebitCredit

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$30,000 Question Which account would you debit when recording the employer’s payroll taxes? Payroll Taxes Expense Cash in Bank Payroll Tax Liabilities Salaries Expense

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$40,000 Question You would ___ the Federal Unemployment Tax Payable account when it comes time for the business to pay the tax amount. Debit Credit

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$50,000 Question When journalizing the payment of the payroll, Cash in Bank is: Credited Debited

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$60,000 Question Form W-2 must be prepared and given to each employee by ____ of the following year. January 31January 15 January 1December 31

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$70,000 Question An increase in the Salaries Expense account has what effect on owner’s equity? DecreaseIncrease No effect

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$80,000 Question Which tax is a matching tax for the employer? FICASUTA FUTA

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$90,000 Question What is the Federal Unemployment Tax rate for employers?.08% 5.4% 1.45%

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$100,000 Question What is the State Unemployment Tax rate for employers?.08% 5.4% 1.45%

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$200,000 Question The largest expenditure for most business is… Utilities Expense Salaries Expense Advertising Expense

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$300,000 Question The maximum amount for each employee that an employer has to pay unemployment taxes on is: $7,500 $7, ,000

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$400,000 Question FICA stands for…. Federal Insurance Contrition Act Federally Insured Contrition Act Federal Insurance Contribution Act

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$500,000 Question The abbreviation, “FUTA”, stands for…. Federally Unemployed Taxes Act Federally Unemployed Taxation Act Federal Unemployment Tax Act

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This is your last AND final question! Feeling the pressure? For $1,000,000!!!! Click here when ready for last question.

$1,000,000 Question The abbreviation, “SUTA”, stands for…. State Unemployed Taxes Act Stately Unemployed Taxation Act State Unemployment Tax Act

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