Payroll Accounting (Word Scramble)

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1. FICA consists of taxes for Social Security and ___________. MEDICARE DERMICEA Unscramble
2. FICA taxes are paid by both the employee and the _________________. EMPLOYER YRMPEOEL Unscramble
3. State and federal _______________ taxes are not withheld from employees' wages. UNEMPLOYMENT TPNYEOMUMLEN Unscramble
4. The ________ unemployment tax is 0.6% of each employee's first $7,000 of annual wages. FEDERAL LEERDAF Unscramble
5. An employee's hourly pay rate multiplied by the hours worked equals the employee's _______ wages. GROSS ORSGS Unscramble
6. A person who performs a service for a company but is not the company's employee is referred to as an _________________ contractor. INDEPENDENT ENPNNIDDEET Unscramble
7. Amounts withheld from an employees' wages are reported as current ___________ until they are remitted. LIABILITIES IBTLISEIALI Unscramble
8. Generally, employers with hourly paid employees will have to prepare an ____________ entry to accrue wages. ADJUSTING NUTSAGIJD Unscramble
9. To achieve the matching principle, fringe benefits are best expensed in the period in which the employee has _________ them. EARNED DEANER Unscramble
10. The accrual of wages and fringe benefits will credit a ___________ account. LIABILITY BIAYIITLL Unscramble

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