Question and answer
The account that is debited for the total amount of the gross earnings of all employees for each pay period is (Points : 3) Wages and Salaries Expense. Payroll Taxes Expense. Miscellaneous Expense. Withdrawal Expense.
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Question
Asked 6/10/2013 9:48:46 PM
Updated 4/12/2018 12:45:09 PM
5 Answers/Comments
This conversation has been flagged as incorrect.
Flagged by emdjay23 [4/12/2018 12:45:09 PM]
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Original conversation
User: FICA taxes include amounts for both Social Security and Medicare programs. (Points : 3

User: FICA taxes include amounts for both Social Security and Medicare programs. (Points : 3) True or false?

User: An independent contractor performs a service for a fee and does not work under the control and direction of the company paying for the service. (Points : 3)

User: The Fair Labor Standards Act provides that all employees covered by the act must be paid one and one-half times the regular rate for all hours worked over 40 per week. (Points : 3)

User: The account that is debited for the total amount of the gross earnings of all employees for each pay period is (Points : 3) Wages and Salaries Expense. Payroll Taxes Expense. Miscellaneous Expense. Withdrawal Expense.

Weegy: The account that is debited for the total amount of the gross earnings of all employees for each pay period is Wages and Salaries Expense.
nami008|Points 81|

User: The employer must pay the amount owed for Social Security and Medicare by the business plus the amount withheld from the employee to the IRS. (Points : 3)

User: Melissa Taylor has gross earnings of $425 and withholdings of $26.35 for Social Security tax, $6.16 for Medicare tax, and $35 for federal income tax. Her employer pays $26.35 for Social Security tax, $6.16 for Medicare tax, $3 for FUTA tax, and $9 for SUTA tax. The total cost of Melissa to her employer is (Points : 3) $32.51. $425.00. $469.51. $437.00.

Weegy: The employer also must pay State and Federal Unemployment Taxes (SUTA and FUTA). The FUTA rate is 6.2 %, but you can take a credit of up to 5.4% for SUTA taxes that you pay. If you are eligible for the maximum credit your FUTA rate will be 0.8%. [ The wage base for FUTA is $7,000. You will stop paying FUTA for each employee once his or her wages exceed $7,000 for the year. You will need to check with your state about SUTA tax rates and the wage base. Generally, your SUTA tax rate is based on the amount of unemployment claims that are filed by employees that you have terminated. When your business is new, your SUTA tax rate starts at the maximum and declines if you build a history of few claims. ]
AngelInDisguise|Points 5101|

User: Which of the following is a payroll tax normally paid by both the employee and the employer? (Points : 3) FICA tax FUTA tax property tax SUTA tax

User: • Assuming federal income tax withholding is $150, what is Employee A’s net pay after federal income tax withholding and payroll tax withholding?

Question
Asked 6/10/2013 9:48:46 PM
Updated 4/12/2018 12:45:09 PM
5 Answers/Comments
This conversation has been flagged as incorrect.
Flagged by emdjay23 [4/12/2018 12:45:09 PM]
New answers
Rating
8
FICA taxes include amounts for both Social Security and Medicare programs. TRUE.


Added 4/12/2018 12:44:39 PM
This answer has been confirmed as correct and helpful.
Confirmed by Sting [4/12/2018 3:01:47 PM]
8
An independent contractor performs a service for a fee and does not work under the control and direction of the company paying for the service. TRUE.


Added 4/12/2018 12:44:48 PM
This answer has been confirmed as correct and helpful.
Confirmed by Sting [4/12/2018 3:01:46 PM]
8
The Fair Labor Standards Act provides that all employees covered by the act must be paid one and one-half times the regular rate for all hours worked over 40 per week. TRUE.


Added 4/12/2018 12:44:55 PM
This answer has been confirmed as correct and helpful.
Confirmed by Sting [4/12/2018 3:01:44 PM]
8
The employer must pay the amount owed for Social Security and Medicare by the business plus the amount withheld from the employee to the IRS. TRUE.


Added 4/12/2018 12:45:03 PM
This answer has been confirmed as correct and helpful.
Confirmed by Sting [4/12/2018 3:01:42 PM]
8
FICA tax is a payroll tax normally paid by both the employee and the employer.
Added 4/12/2018 12:45:06 PM
This answer has been confirmed as correct and helpful.
Confirmed by Sting [4/12/2018 3:01:40 PM]
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