Payroll Accounting |(COMPLETE)SOLUTIONS MANUAL: Payroll Accounting 2024 Landin 34th
Edition by Bernard J. Bieg and Bridget Stomberg|2025 LATEST EDITION
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401(k) plan - (correct Answer) - a voluntary payroll deduction from gross earnings;
the employee does not pay income tax on the amount contributed until the money is
withdrawn from the plan, usually after age 59 1/2.
allowance - (correct Answer) - an amount added or deducted on the basis of
qualifying circumstances
accumulated earnings - (correct Answer) - the employee's year-to-date gross
earnings
commission - (correct Answer) - An amount paid to an employee based on a percentage
of the employee's sales
deduction - (correct Answer) - an amount that is subtracted from an employee's
gross earnings
direct deposit - (correct Answer) - An automatic deposit of a paycheck without
having to take a physical check to the bank. (done electronically).
employee earnings record - (correct Answer) - An individual payroll record kept for
each employee.
exemptions - (correct Answer) - The amount deducted from gross earnings for federal
income tax each pay period which depends on marital status and the number of
___________________ claimed.
gross earnings - (correct Answer) - The total amount of money an employee earns in
a pay period.
net pay - (correct Answer) - The amount left after total deductions have been
subtracted from gross earnings.
overtime rate - (correct Answer) - Pay rate employers are required to pay certain
employees covered by state and federal laws; the Fair Labor Standards Act of 1938
sets the rate at 1 1/2 times the regular hourly rate after 40 hours per week.
pay period - (correct Answer) - The amount of time for which an employee is paid.
payroll - (correct Answer) - A list of employees and the payments due to each of
employee for a specific pay period.
payroll clerk - (correct Answer) - An employee responsible for preparing the
payroll.
payroll register - (correct Answer) - A form that summarises information about
employees' earnings for each pay period.
salary - (correct Answer) - A fixed amount of money paid to an employee for each
pay period.
time card - (correct Answer) - A record of the time an employee arrives at work,
leaves work, and the total number of hours worked each day.
wage - (correct Answer) - An amount of money paid to an employee at a specified
rate per hour.
electronic badge readers - (correct Answer) - A device used to scan certain
information encoded on a magnetic strip on an employee's time card or
identification badge.
Edition by Bernard J. Bieg and Bridget Stomberg|2025 LATEST EDITION
Save
401(k) plan - (correct Answer) - a voluntary payroll deduction from gross earnings;
the employee does not pay income tax on the amount contributed until the money is
withdrawn from the plan, usually after age 59 1/2.
allowance - (correct Answer) - an amount added or deducted on the basis of
qualifying circumstances
accumulated earnings - (correct Answer) - the employee's year-to-date gross
earnings
commission - (correct Answer) - An amount paid to an employee based on a percentage
of the employee's sales
deduction - (correct Answer) - an amount that is subtracted from an employee's
gross earnings
direct deposit - (correct Answer) - An automatic deposit of a paycheck without
having to take a physical check to the bank. (done electronically).
employee earnings record - (correct Answer) - An individual payroll record kept for
each employee.
exemptions - (correct Answer) - The amount deducted from gross earnings for federal
income tax each pay period which depends on marital status and the number of
___________________ claimed.
gross earnings - (correct Answer) - The total amount of money an employee earns in
a pay period.
net pay - (correct Answer) - The amount left after total deductions have been
subtracted from gross earnings.
overtime rate - (correct Answer) - Pay rate employers are required to pay certain
employees covered by state and federal laws; the Fair Labor Standards Act of 1938
sets the rate at 1 1/2 times the regular hourly rate after 40 hours per week.
pay period - (correct Answer) - The amount of time for which an employee is paid.
payroll - (correct Answer) - A list of employees and the payments due to each of
employee for a specific pay period.
payroll clerk - (correct Answer) - An employee responsible for preparing the
payroll.
payroll register - (correct Answer) - A form that summarises information about
employees' earnings for each pay period.
salary - (correct Answer) - A fixed amount of money paid to an employee for each
pay period.
time card - (correct Answer) - A record of the time an employee arrives at work,
leaves work, and the total number of hours worked each day.
wage - (correct Answer) - An amount of money paid to an employee at a specified
rate per hour.
electronic badge readers - (correct Answer) - A device used to scan certain
information encoded on a magnetic strip on an employee's time card or
identification badge.
