When paying supplemental wages along with regular wages WITHOUT specifying the amount of each, how would a company determine the amount of income tax to withhold from the supplemental wages if the employee has been paid no supplemental wages so far during the year and the supplemental wage payment is no more than $1,000?
A. Withhold income tax as if the total were a single payment for a regular payroll period.
B. Withhold a flat 25% from the supplemental wages and withhold from regular wages using the appropriate table.
C. Withhold a flat 25% from the supplemental wages.
D. Compute income tax withholding on the regular wages separate from the supplemental wages
Which of the following accounts has a normal credit balance?
A. Expense
B. Asset
C. Cash
D. Liability
Employee Jack, a nonexempt employee, must travel by plane from Chicago to Houston to inspect the security system recently, installed at a client's site. Jack is normally scheduled to work from 8:00 a.m. to 5:00 p.m., Monday through Friday.
Jack arrives at Chicago O'Hare airport on Sunday at 4:00 p.m. and lands at Houston Intercontinental airport at 6:00 am. Jack begins work at 8:00 a.m. on Monday, works through lunch, and returns to the airport for his return flight at 5:00 p.m.
He arrives in Chicago at 7:00 p.m. Monday evening.
Under FLSA, how many hours of pay are due Jack for Sunday and Monday?
A. 8
B. 14
C. 10
D. 11
An employer may exclude a business reimbursement from income when the employee's expenses meet which of the following requirements?
A. Reimbursements are made with regular payroll
B. Expenses are business-related, substantiated, and excess advances are returned timely.
C. Expenses are substantiated and excess advances are returned
D. Expenses are business-related, substantiated, and excess advances are retained for future travel.
Which of the following generally does NOT represent compensable time under the FLSA?
A. Time sent in break room waiting for job instructions
B. Time spent cleaning up work area after normal shift
C. Overtime hours not authorized by the employer
D. Travel to a convention after normal working hours
Which of the following steps would be taken first when selecting a new payroll system?
A. Prepare a need analysis
B. Release requests for proposal (RFP's)
C. Schedule product demonstrations
D. Talk to users of the systems being considered
When the state does not allow workers' compensation converge through a private insurance carrier, this is referred to as a:
A. Public fund state
B. National council state
C. Competitive state
D. Monopolistic state
A company has a gross payroll of $120,589.36. Federal taxes withheld are $24,117.87; combined social security and Medicare taxes withheld are $6,502.50. What is the company's total tax liability for this pay period?
A. $37,122.87
B. $30.620.37
C. $42,568.04
D. $61,240.74
Which of the following would NOT be defined as a tax-deferred benefit?
A. Non qualified plan contributions
B. 403(b) pretax contributions
C. 401(k) pretax contributions
D. 125 pretax contributions
Which of the following sets of data should be maintained on the payroll master file?
A. Primary physician's name, and phone number
B. Name, address, occupation
C. Next of kin relationship
D. Children's names and birth dates
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