5 Written questions
5 Matching questions
- Form W-3
- All records of employment taxes must be kept for at least
- Disbursement journals must show
- All records of employment taxes should be available for review by the
- In balance
- a - Every amount paid out.
- Date and check number.
- Purpose of the payment.
- b The state in which the total ending balances of patient ledgers equals the tatal of accounts receivable.
- c 4 years
- d The Transmittal of Income and Tax Statement. Employers must file form annualy to transmit wage and income tax withheld statements (Form W-2) to the Social Security Administration.
- e IRS
5 Multiple choice questions
- Daily journal and checkbook
- The most complete accounting system. System in which transactions may be entered manually or by computer. Inexpensive but requires a trained, experienced bookkeeper or the regular services of an accountant.
- Declaration of Estimated Tax for Individuals
- should be done once a month after all posting has been completed and before the monthly statements are prepared. The purpose of process is to disclose any discrepancies between the journal and the ledger.
- A record or notation of an occurrence, transaction, or proceeding.
5 True/False questions
Employment records include → Social security number of the employee
Number of withholding allowances claimed
Amount of gross salary
All deductions for the Social Security and Medicare taxes; federal, state, and city or other subdivision withholding taxes; state disability insurance; and state unemployment tax, where applicable.
Liabilities → The state in which the total ending balances of patient ledgers equals the tatal of accounts receivable.
Single-entry systems- → The most complete accounting system. System in which transactions may be entered manually or by computer. Inexpensive but requires a trained, experienced bookkeeper or the regular services of an accountant.
FICA provides for → a federal system of old age, survivors, disability, and hospital insurance. Rate is 6.2 % for employees and employers.
All wages are subject to the Medicare tax at a rate of ___% each for both employees and employers. → 4 years