Payroll

If you have difficulty answering the following questions, learn more about this topic by reading our Explanation of Payroll Accounting.

NOTE: To see each answer, place your cursor in the middle of the cell under "Unscrambled Answer".

	Word Clue	Scrambled Answer	Unscrambled Answer
1.	FICA consists of taxes for Social Security and ___________.	DERMICEA	MEDICARE
2.	FICA taxes are withheld from employees' wages and are ____________ by the employer.	ACDTEMH	MATCHED
3.	State and federal _______________ taxes are not withheld from employees' wages.	TPNYEOMUMLEN	UNEMPLOYMENT
4.	The ________ unemployment tax is 0.8% of each employee's first $7,000 of annual wages.	LEERDAF	FEDERAL
5.	An employee's hourly pay rate multiplied by the hours worked equals the employee's _______ wages.	ORSGS	GROSS
6.	A person who performs a service for a company but is not the company's employee is referred to as an _________________ contractor.	ENPNNIDDEET	INDEPENDENT
7.	Amounts withheld from an employees' wages are reported as current ___________ until they are remitted.	IBTLISEIALI	LIABILITIES
8.	Generally, employers with hourly paid employees will have to prepare an ____________ entry to accrue wages.	NUTSAGIJD	ADJUSTING
9.	To achieve the matching principle, fringe benefits are best expensed in the period in which the employee has _________ them.	DEANER	EARNED
10.	The accrual of wages and fringe benefits will credit a ___________ account.	BIAYIITLL	LIABILITY

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