Payroll Accounting By Jeanette Landin 5th Edition- Test Bank

Payroll Accounting By Jeanette Landin 5th Edition- Test Bank

Payroll Accounting 2019, 5e (Landin)
Chapter 7 The Payroll Register, Employees’ Earnings Records, and Accounting System Entries

1) The purpose of the net pay and check number columns in the payroll register is to verify accurate disbursal of payroll.

Answer: TRUE
Difficulty: 1 Easy
Topic: Connect the Payroll Register to the Employees’ Earnings Records
Learning Objective: 07-01 Connect the Payroll Register to the Employees’ Earnings Records
Bloom’s: Understand
AACSB: Reflective Thinking
Accessibility: Keyboard Navigation

2) The payroll register is identical for each company.

Answer: FALSE
Explanation: The columns in a payroll register may vary among companies.
Difficulty: 1 Easy
Topic: Connect the Payroll Register to the Employees’ Earnings Records
Learning Objective: 07-01 Connect the Payroll Register to the Employees’ Earnings Records
Bloom’s: Understand
AACSB: Communication
Accessibility: Keyboard Navigation

3) The information in the payroll register forms the basis for entries in the Employee Earnings Records and the General Journal.

Answer: TRUE
Difficulty: 1 Easy
Topic: Connect the Payroll Register to the Employees’ Earnings Records
Learning Objective: 07-01 Connect the Payroll Register to the Employees’ Earnings Records
Bloom’s: Understand
AACSB: Reflective Thinking
Accessibility: Keyboard Navigation

4) Employee earnings records form the link between accounting and the human resources department.

Answer: TRUE
Difficulty: 1 Easy
Topic: Connect the Payroll Register to the Employees’ Earnings Records
Learning Objective: 07-01 Connect the Payroll Register to the Employees’ Earnings Records
Bloom’s: Remember
AACSB: Communication
Accessibility: Keyboard Navigation

5) Besides containing the supporting data for periodic tax reports, the employee earnings record serves as a backup in the event of computer failure.

Answer: TRUE
Difficulty: 1 Easy
Topic: Connect the Payroll Register to the Employees’ Earnings Records
Learning Objective: 07-01 Connect the Payroll Register to the Employees’ Earnings Records
Bloom’s: Understand
AACSB: Communication
Accessibility: Keyboard Navigation

6) A debit always decreases the balance of an account.

Answer: FALSE
Explanation: A debit represents an entry on the left side of the T-account.
Difficulty: 2 Medium
Topic: Describe Financial Accounting Concepts
Learning Objective: 07-02 Describe Financial Accounting Concepts
Bloom’s: Apply
AACSB: Reflective Thinking
Accessibility: Keyboard Navigation

7) The General Journal contains records of a firm’s financial transactions, which appear chronologically.

Answer: TRUE
Difficulty: 2 Medium
Topic: Describe Financial Accounting Concepts
Learning Objective: 07-02 Describe Financial Accounting Concepts
Bloom’s: Apply
AACSB: Reflective Thinking
Accessibility: Keyboard Navigation