Posted: April 14th, 2016

Which form is used to report FICA taxes for the employer and employee, and also federal income taxes for the employee?

8) For which of the following taxes is there a ceiling on the amount of employee annual earnings subject to the tax?
A) FICA-social security
B) State unemployment taxes
C) Federal unemployment taxes
D) All of these answers are correct.

10) Jake’s earnings during the month of March were $1,500. His earnings for the year prior to March were $5,500. Jake’s employer is subject to state unemployment of 2.0% and federal unemployment taxes of 0.8% on the first $7,000. The employer’s unemployment payroll tax expense for March is:
A) $36.40.
B) $56.40.
C) $154.00
D) $42. Unit

11) Bay Online Auction’s payroll for July includes the following data:
Gross salaries $40,000
Salaries subject to FICA:
6.2% Social Security 35,000
1.45% Medicare 40,000
Salaries subject to:
0.8% FUTA 2,000
2.0% SUTA 2,000
The employer’s payroll tax for the period would be:
A) $2,806.
B) $2,226.
C) $3,206.
D) $2,096.

12) The account for Payroll Tax Expense includes all of the following except:
A) federal income tax.
B) unemployment taxes for the year to date.
C) employer payroll taxes for the year to date.
D) FICA taxes (Social Security and Medicare) paid by the employer for the latest payroll period.

13) Which of the following statements is false?
A) Payroll Tax Expense is an expense account.
B) FICA-Social Security Tax Payable increases on the credit side of the account.
C) SUTA Tax Payable increases on the debit side of the account.
D) Payroll Tax Expense increases on the debit side of the account.

14) The 941 taxes include:
A) property tax.
B) FUTA.
C) SUTA.
D) FICA.

15) Form 8109 is:
A) sent directly to the IRS.
B) a federal tax deposit coupon.
C) used when paying SUTA tax.
D) All of these answers are correct.

16) Which form is used to report FICA taxes for the employer and employee, and also federal
income taxes for the employee?
A) Form 941
B) Form W-4
C) Form 940EZ or Form 940
D) None of these answers are correct.