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Payroll Accounting (Word Scramble)

Author:
Harold Averkamp, CPA, MBA

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).

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1. FICA consists of taxes for Social Security and ___________.

MEDICARE DEEMAIRC
MEDICARE RIECEDMA

2. FICA taxes are paid by both the employee and the _________________.

EMPLOYER EROLEMYP
EMPLOYER OMYRPLEE

3. State and federal _______________ taxes are not withheld from employees' wages.

UNEMPLOYMENT LPEEMNYNMOTU
UNEMPLOYMENT UOTNPYMMLNEE

4. The ________ unemployment tax is often a net rate of 0.6% of each employee's first $7,000 of annual wages.

FEDERAL EEDLAFR
FEDERAL RLEEDFA

5. An employee's hourly pay rate multiplied by the hours worked equals the employee's _______ wages.

GROSS SSROG
GROSS RSOSG

6. A person who performs a service for a company but is not the company's employee is referred to as an _________________ contractor.

INDEPENDENT NIDDNTNPEEE
INDEPENDENT TEINNPNDDEE

7. Amounts withheld from an employees' wages are reported as current ___________ until they are remitted.

LIABILITIES LILSAIIIEBT
LIABILITIES IISIAIBTLLE

8. Generally, employers with hourly paid employees will have to prepare an ____________ entry to accrue wages.

ADJUSTING NSGUTJIDA
ADJUSTING AUSGTIJDN

9. To achieve the matching principle, fringe benefits are best expensed in the period in which the employee has _________ them.

EARNED EEADRN
EARNED ADERNE

10. The accrual of wages and fringe benefits will credit a ___________ account.

LIABILITY LYIBTAILI
LIABILITY ILLTIYIBA
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About the Author

Harold Averkamp

For the past 52 years, Harold Averkamp (CPA, MBA) has
worked as an accounting supervisor, manager, consultant, university instructor, and innovator in teaching accounting online. He is the sole author of all the materials on AccountingCoach.com.

Learn More About Harold

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