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If you have difficulty answering the following questions, learn more about this topic by reading our Payroll Accounting (Explanation).
|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 often a net rate of 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|