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Accounting-5
Arkansas Unit 5: Payroll Accounting
Question | Answer |
---|---|
941 | Employer's quarterly federal tax return. |
Employee Earnings Record | Business form used to record details affecting payments made to an employee. |
Employer's Payroll Taxes | Taxes owed to the governement by the employer based on payroll. |
Federal Unemployment Tax | Tax paid by employers to provide funds for workers who are temporarily unemployed. |
Gross Earnings | Total amount earned by an employee for a pay period before deductions. |
Medicare Tax | Provides health insurance benefits for the elderly. |
Net Pay | Total earnings paid to an employee after payroll taxes and other deductions are withheld. |
Pay Period | Period covered by a salary payment. |
Payroll | List of employees and the payments due to each employee for a pay period. |
Payroll Checks | Checks written to each employee for amount due. |
Payroll Records | Organized records of a business's payroll activities. |
Payroll Register | Business form used to record payroll information. |
Payroll System | A planned process for producing and providing payroll information. |
Payroll Taxes | Taxes withheld from employee earnings. |
State Unemployment Tax | Tax paid by employer to provide funds for workers who are temporarily unemployed. |
W-2 | Wage and tax statement. |
W-3 | Trasmittal of income and tax statement. |
W-4 | Tax form that contains the information used to determine the amount of income tax withheld for employees. |