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TVS Accounting1-12

Accounting 1 Chapter 12

QuestionAnswer
The money paid for employee services Salary
A period covered by a salary payment Pay Period
The total amount earned by all employees for a pay period Payroll
The total pay due for a pay period before deductions Total Earnings
Taxes based on the payroll of a business Payroll Taxes
A deduction from total earnings for each person legally supported by a taxpayer, including the employee Withholding Allowance
Employee's Withholding Allowance Certificate W-4
A federal tax paid for old-age, survivors, and disability insurance Social Security Tax
A federal tax paid for hospital insurance Medicare Tax
The maximum amount of earning on which a tax is calculated Tax Base
A business form used to record payroll information Payroll Register
The total earnings paid to an employee after payroll taxes and other deductions Net pay
A business form used to record details affecting payments made to an employee Employee Earnings Record
Created by: TammieVanScyoc
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