Payroll - 2017
Quiz by Rachel Nally
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15 questions
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- Q1The gross earnings of six employees of a jewelry store for a week were: $815, $595, $715, $670, $525, and $675. What was the average amount earned for the week by these employees?$634.88$665.83$648.38$642.83120s
- Q2Jeff Jackson receives a salary of $720 a month and a 7.5% commission on all sales above his monthly sales quota of $15,000. His sales for March totaled $32,000. What was Jeff’s total income for March?$1,275$1,995$2,400$660120s
- Q3An employee is paid twice per month. This employee is said to be paid _________.monthlysemi-monthlybi-weeklysemi-annually120s
- Q4Alexis earns a weekly salary of $1,425 as a fitness trainer. If she works at this pay rate for a year, her total annual earning will be __________.$74,100$70,304$32,448$16,224120s
- Q5If Taton’s hourly rate is $16.25 and he worked 43 hours last week, his gross pay for the week was _______________.$116.25$723.13$698.75$620120s
- Q6A business form used to record payroll information for all employees during a pay period is called a(n) ___________.Employee earnings recordPayroll register941 FormPayroll ledger120s
- Q7An employee is hired at a pay rate of $10 per hour. During the past week, the employee worked 50 hours. The employee’s gross wages for the past week are:$400$550$450$500120s
- Q8The federal form on which an employee indicates the number of exemptions/dependents to be used in calculating the amount of federal income tax withholding for the employee is theForm 1099Form W-4Form W-2Form 941120s
- Q9John receives $8 per hour and worked 32 hours Monday-Thursday. Friday was a paid holiday. What is John owed for this week before any withholdings?$240$256$336$320120s
- Q10What taxes must employers match and pay to the Internal Revenue Service each pay period?Social Security and Unemployment TaxFederal Tax and State TaxSocial Security Tax and Medicare TaxFederal Tax and Social Security Tax120s
- Q11What document reflects the value of assets of a corporation?Balance SheetProfit/loss statementIncome statementVariance analysis120s
- Q12The pay earned by hourly-paid employees is usually referred to aswagessalarytipscommission120s
- Q13The combination of the Social Security tax and Medicare tax is referred to by the acronymFICAFUCAFUTAFIMA120s
- Q14The rate for the Social Security tax (excluding the Medicare tax) that is withheld from employees’ salaries and wages up to a specified annual amount is1.45%7.65%6.2%8.2%120s
- Q15The financial statement that is used to evaluate the performance of a business by matching its revenue and related expenses for a particular accounting period is aBalance SheetGeneral LedgerIncome StatementTrial Balance120s