To see each answer, press or click on the blue "Unscramble" button.
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|
Want more practice questions?
Receive instant access to our graded Quick Tests (more than 1,800 unique test questions) when you join AccountingCoach PRO.
We now offer six Certificates of Achievement for Introductory Accounting and Bookkeeping. The certificates include Debits and Credits, Adjusting Entries, Financial Statements, Cash Flow Statement, Working Capital and Liquidity, and Payroll Accounting. Click here to learn more.