Payroll Accounting 2013

Cover
......Page 1
Title Page
......Page 3
Copyright
......Page 4
As We Go to Press......Page 7
Preface......Page 9
Acknowledgments......Page 15
About the Authors......Page 19
Contents......Page 20
Learning Objectives......Page 23
The Payroll Profession......Page 24
Fair Labor Standards Act......Page 25
Fair Employment Laws......Page 26
Other Federal Laws Affecting the Need for Payroll and Personnel Records......Page 29
Other State Laws Affecting the Need for Payroll and Personnel Records......Page 33
Human Resources System......Page 34
Payroll Accounting System......Page 41
Key Points Summary......Page 44
Questions for Review......Page 45
Case Problem......Page 46
Learning Objectives......Page 47
The Fair Labor Standards Act......Page 48
Determining Employee's Work Time......Page 59
Records Used for Timekeeping......Page 62
Methods of Computing Wages and Salaries......Page 65
Answers to Self-Study Quizzes......Page 74
Key Points Summary......Page 75
Questions for Review......Page 76
Questions for Discussion......Page 77
Practical Problems A......Page 79
Practical Problems
B......Page 85
Continuing Payroll Problem
A......Page 91
Continuing Payroll Problem
B......Page 92
Case Problems......Page 93
Learning Objectives......Page 95
Coverage under FICA......Page 96
A Self-Employed Person......Page 106
Employee's Application for Social Security Card (Form SS-5)......Page 108
Returns Required for Social Security Purposes......Page 110
Preparing Form 941 (Employer's Quarterly Federal Tax Return)......Page 115
Failure-to-Comply Penalties......Page 122
Answers to Self-Study Quizzes......Page 125
Key Points Summary......Page 126
Questions for Discussion......Page 127
Practical Problems
A......Page 129
Practical Problems
B......Page 145
Continuing Payroll Problem
A......Page 159
Case Problems......Page 160
Learning Objectives......Page 165
Coverage under Federal Income Tax Withholding Laws......Page 166
Tax-Deferred Retirement Accounts......Page 172
Withholding Allowances......Page 174
Federal Income Tax Withholding......Page 179
Other Methods of Withholding......Page 181
Supplemental Wage Payments......Page 182
Wage and Tax Statements......Page 185
Information Returns......Page 191
Independent Contractor Payments......Page 192
Backup Withholding......Page 193
Withholding State Income Tax......Page 194
Key Terms......Page 197
Answers to Self-Study Quizzes......Page 198
Matching Quiz......Page 199
Questions for Discussion......Page 200
Practical Problems
A......Page 203
Practical Problems
B......Page 217
Continuing Payroll Problem
B......Page 231
Case Problems......Page 232
Learning Objectives......Page 233
Coverage under FUTA and SUTA......Page 234
Unemployment Compensation Taxes and Credits......Page 240
Unemployment Compensation Reports Required of the Employer......Page 250
Answers to Self-Study Quizzes......Page 259
Key Points Summary......Page 260
Questions for Review......Page 261
Questions for Discussion......Page 262
Practical Problems
A......Page 263
Practical Problems
B......Page 275
Case Problems......Page 287
Learning Objectives......Page 289
The Payroll Register......Page 290
The Employee's Earnings Record......Page 292
Recording the Gross Payroll and Withholdings......Page 294
Methods of Paying Wages and Salaries......Page 300
Recording Payroll Taxes......Page 303
Recording Workers' Compensation Insurance Expense......Page 307
Recording the Deposit or Payment of Payroll Taxes......Page 308
Recording End-of-Period Adjustments......Page 309
Illustrative Case......Page 311
Key Points Summary......Page 318
Matching Quiz......Page 319
Questions for Discussion......Page 320
Practical Problems A......Page 321
Practical Problems
B......Page 345
Continuing Payroll Problem
B......Page 368
Case Problems......Page 369
Learning Objectives......Page 371
Books of Account and Payroll Records......Page 372
General Information......Page 374
Narrative of Payroll Transactions......Page 377
Questions on the Payroll Project......Page 391
Employees' Earnings Record......Page 411
Payroll Project......Page 439
Optional Activities......Page 453
Payroll Project (Short Version)......Page 454
Optional Activities......Page 464
Student Project Audit Test......Page 467
Tax Table A/Tax Table B......Page 477
Check Figures......Page 491
Glossary......Page 492
Index......Page 495