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Accounting 1 Chapter 12

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