Payroll Accounting - Ch. 1 - Processing a New Employer questions with correct answers

Period Ending Date Correct Answer-The last day the employee is being paid for in the current paycheck Pay Date Correct Answer-The date the check is written Give the most likely reason why there would be more allowances claimed for FEDERAL taxes, than STATE or LOCAL. Correct Answer-An employee can claim a federal allowance for him or herself. When did the Fair Labor Standards Act originally pass? Correct Answer-1938 What did the Fair Labor Standards Act establish? Correct Answer-Federal minimum wage Name 2 things the Federal minimum wage mandates? Correct Answer-Overtime Pay and the restriction of child labor 5 Exceptions to Federal Minimum Wage Correct Answer-1. Workers with disabilities 2. Full-time Students 3. Young Workers (under 20) 4. Tipped Employees