Questions from College Accounting


Q: What is the purpose of the FUTA tax, and who must

What is the purpose of the FUTA tax, and who must pay it?

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Q: Give three examples of unearned revenue.

Give three examples of unearned revenue.

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Q: What is the purpose of the state unemployment tax, and who

What is the purpose of the state unemployment tax, and who must pay it?

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Q: Describe the information contained in the payroll register.

Describe the information contained in the payroll register.

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Q: Explain why an employee whose gross salary is $20,000

Explain why an employee whose gross salary is $20,000 costs an employer more than $20,000 to employ.

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Q: What steps are followed in posting cash payments from the general journal

What steps are followed in posting cash payments from the general journal to the general ledger?

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Q: What is the purpose of Form 941, Employer’s Quarterly Federal Tax

What is the purpose of Form 941, Employer’s Quarterly Federal Tax Return?

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Q: Identify the major documents commonly used in the purchasing process.

Identify the major documents commonly used in the purchasing process.

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Q: If the total of the schedule of accounts payable does not agree

If the total of the schedule of accounts payable does not agree with the Accounts Payable balance, what procedures should be used to search for the error?

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Q: What is the purpose of Form I-9, Employment Eligibility

What is the purpose of Form I-9, Employment Eligibility Verification?

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