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 |
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Harold Averkamp (CPA, MBA) has worked as a university accounting instructor, accountant, and consultant for more than 25 years. He is the sole author of all the materials on AccountingCoach.com. Read more about the author.
