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Accounting Ch 12

QuestionAnswer
earnings record a business form used to record details affecting payments made to an employee Medicare tax
Medicare tax a federal tax paid for hospital insurance
net pay the total earnings paid to an employee after payroll taxes and other deductions
pay period the period covered by a salary payment
payroll the total amount earned by all employees for a pay period
payroll register a business form used to record payroll information
payroll taxes taxes based on the payroll of a business
salary the money paid for employee services
social security tax a federal tax paid for old-age, survivors, and disability insurance
tax base the maximum amount of earnings on which a tax is calculated
total earnings the total pay due for a pay period before deductions
withholding allowance a deduction from total earnings for each person legally supported by a taxpayer, including the employee
Created by: Nrobinson on 2011-02-25



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