Payroll Exam 6 Questions and Answers 100% Pass

Payroll Exam 6 Questions and Answers 100% Pass Do federal tax levies take a secondary priority to child support order wage withholdings in the garnishment process? True Is the payroll register used to gather information needed for journal entries that record wages earned, wage deductions, and net pay each payday? True Do computerized payroll systems still require manual posting of payroll journal entries to the general ledger? False Is the payroll register utilized by employers when completing Forms W-2? False Does the employer maintain records of each employee's cumulative wages in the employee's earnings record? True In calculating overtime pay at one and a half times the regular rate, are overtime hours multiplied by one-half of the regular hourly rate? True When recording payroll taxes, is a liability account titled Employers Payroll Taxes Payable credited for the total taxes owed, including FICA, FUTA, and SUTA? False Are FUTA and FICA tax payments by the employer to the IRS recorded in the same journal entry? False In a federal tax levy, does the employee notify the employer about the amount to withhold from their paycheck? False Does the FICA Taxes Payable—HI account record the liability for both the employer's and employees' HI tax? True Are disposable earnings calculated by subtracting only federal income tax withholdings? False Here are the totals from the first payroll of the year: Total Earnings: $36,195.10 FICA OASDI: $2,244.10 FICA HI: $524.83 Federal Income Tax Withheld: $6,515.00 State Tax: $361.95 Union Dues: $500.00 Net Pay: $26,049.22 Journalize the entry to record the payroll. Wages Exp 36195.10 OASDI pay 2244.10 HI Pay. 524.83 FIT Pay. 6515 SIT Pay. 361.95 Union Pay. 500 Cash 26049.22 The totals from the first payroll of the year are shown below. TotalEarnings $36,195.10 FICA OASDI $2,244.10 FICA HI $524.83