Like this study set? Create a free account to save it.

Sign up for an account

Already have a Quizlet account? .

Create an account

Minimum wage and overtime pay requirements

The Fair Labor Standards Act sets up the ___________.

Regular hours time regular rate

Employee regular earnings are calculated as ___________.


For many businesses, what is the largest expense?

Gross earnings

The total amount of money an employee earns in a pay period is the employee's ___________.


One common method of paying managers or supervisors is by ___________.

Nearest quarter hour

Most companies round work arrival and departure time to the ___________.

Encourage increased sales

Sales employees are often paid a commission to ___________.

Medicare and social security

By law, what emploee payroll taxes are required to be withheld?

Marital status and allowance numbers

Form W-4 provides information for withholding tax information such as ___________.

Federal Insurance Contributions Act

FICA is an acronym for ___________.

Journalizing payroll entries

The payroll register is the source document for ___________.

Cash control

Most businesses pay their employees by check as a means of ___________.

Providing information on accumulated earnings

The employee's earning record is necessary due to ___________.


The account credited for the total net pay is ___________.

Both the employee and employer

Medicare and Social Security taxes are paid by ___________.

Comission plan

Employees who are paid a precentage of their sales are paid on a ___________.

Federal income tax withheld

The withholding allowances of an employee affects ___________.

Payroll register

The form that summarizes information about all employee pay period earnings is called a(n) ___________.

Gross earnings

The Salaries Expense account is debited for ___________.


The statement that reports the employee's year-end earnings and withholdings is called a ___________.


New employees complete a ___________ to ensure taxes are properly withheld.

Voluntary pay deductions

Deductions from an employee's earnings, such as bonds and charitable contributions are ___________.

Accumulated earnings

The employee's year to date earnings are called ___________.


The money paid for employee services are ___________.

Gross pay

The total amount of pay due to an employee for a pay period before an deductions are taken is ___________.

Tax base

The maximum amount of earnings on ehich a tax is calculated is a ___________.

Social Security Tax

A federal tax paid for old-age, survivors, and disability insurance is ___________.

Medicare Tax

A federal tax paid for hospital insurance is ___________.

Employee earnings record

The business form used to record details affecting payment made to an employee is ___________.

Payroll register

Information used to prepare the payroll check is taken from the ___________.

Accumulated earnings

The amount of an employee's earnings used to determine if certain payroll taxes will be deducted is ___________.

Federal income tax withheld

The number of withholding allowances of an employee affect the ___________.


Until the amount of taxes withheld from the employee salaries are paid by the employer, they are recorded as ___________.


Employers are required by law to furisn each employee with a statement of annual earnings and deductions. This form is called ___________.

January 31 of the following year

Employers are required by lay to furish each employee with a statement of annual earnings and deductions no later than ___________.

The same as the employees rate of social security tax

The amount of social security tax paid by an employer is ___________.

Piece rate plan

A payment plan where earnings are based on units produced is called a ___________.

Fair Labor Standards Act (FLSA)

The law that regulates wages and hours of work, including minimum wage and overtime is ___________.


When a court of law orders deductions from an employee's wages it is called a ___________.

Wage bracket method

Determining income tax to be withheld using a tax table is the ___________.

Fair employment laws

Laws that prohibit employment discrimination based on age, race, color, religion, sex, or national origin are ___________.

Unemployement compensation benefits

Workers who are tempoararily unemployed recieve ___________.

Keeping a diary

The third step in the accounting cycle, journalizing, can be compared to ___________.

Preparing a post closing trial balance

The final step in the accounting cycle is ___________.

Publication 15

The IRS Employer tax guide that is a valuable resource for preparing payroll is ___________.

Generates payroll records and reports

Besides preparing and issuing checks, an accurate payroll system achieves what other goals?

Please allow access to your computer’s microphone to use Voice Recording.

Having trouble? Click here for help.

We can’t access your microphone!

Click the icon above to update your browser permissions and try again


Reload the page to try again!


Press Cmd-0 to reset your zoom

Press Ctrl-0 to reset your zoom

It looks like your browser might be zoomed in or out. Your browser needs to be zoomed to a normal size to record audio.

Please upgrade Flash or install Chrome
to use Voice Recording.

For more help, see our troubleshooting page.

Your microphone is muted

For help fixing this issue, see this FAQ.

Star this term

You can study starred terms together

Voice Recording