Describe the types of information reports under the various state unemployment compensation laws.

Q: WHAT IS THE CORRECT JOURNAL ENTRY WHEN WITHHOLDING AN EMPLOYEE'S CONTRIBUTION TO A PENSION PLAN?

A: A journal entry is a form of accounting entry that is used to report a business transaction in a…

Q: xplain the rules governing the deductibility of expenses for employees in Mauritius.

A: Employees are getting various emoluments from employer in which certain deduction are given in…

Q: The employer has an obligation to provide future benefits for:     A. Defined benefit pension…

A: Defined benefit and defined contribution are the  retirement pension plan

Q: Which of the following is not a procedure in accounting for defined contribution plans?…

A: A defined-contribution plan refers to the type of retirement plan under which the employees add up a…

Q: Social security payable and medicare tax payable are classified as

A: Introduction: Balance sheet: All assets and liabilities are recorded in Balance sheet. Balance sheet…

Q: increases the Employee Benefit Expense?

A: Employee benefit expense means Benefits/Compensation provided to the employee other than by way of…

Q: When accounting for pension costs, how should the payment into the pension fund be recorded? How…

A: Pension expense: Pension expense is an expense to the employer paid as compensation after the…

Q: Which of the following journal entries is recorded in a general journal for the payment of the State…

A: The objective of the question is to identify the correct journal entry for the payment of the State…

Q: explain how legislated wages in lieu of notice are treated for statutory deduction purposes in all…

A: Wages in lieu of notice represents that the employer pay the amount to the employee in lace of…

Q: Understand the interrelationships among the elements that constitute a definedbenefit pension plan

A: Defined benefit pension plans are the retirement designs that include providing a fixed and…

Q: The components of postretirement benefit expense are similar to the components of pension expense.…

A: Other postretirement benefits: The postretirement benefits which are provided by employers, other…

Q: If an employee pays for a periodic medical checkup required by an employer, can the amount paid be…

A: Any amount given by the employer for a periodic medical check-up to the employee is liable for…

Q: Which are the components that are included in the pension expense?

A: Pension plan: Pension plan is an agreement between the employer and employee. After the retirement…

Q: Explain what an experience or merit rating is and how it affects the amount paid by an employer for…

A: State Unemployment Insurances taxes: These are the taxes paid by the employer to the credit of the…

Q: A.    State Income Tax Withholding     B.    Social Security

A: Payroll refers to the form of compensation provided by a company to its employees for the work done…

Q: Which type of pension plan would you prefer to be covered under (i.e., defined benefit, defined…

A: In this there are many types of pension plans available and each have own characteristics.

Q: Direct Compensation coverage.

A: The determinants of direct financial compensation can be classified into two categories, external…

Q: Differentiate between employer-sponsored pension plans and self-directed retirement plans

A: Both employer-sponsored pension plans and self-directed retirement plans have some underlying…

Q: Depending on when an unfunded pension liability is to be paid, it will be classified on the balance…

A: Yes, unfunded pension liability will be classified as a liability on the BS Balance Sheet It is…

Q: Employer-sponsored Accident and Health Plans, Medical Reimbursement Pland, Long Term  Care Insurance…

A: Employer offers several benefit plans to employees which include group health care plans and…

Q: In general, how can an employer choose an appropriate discount rate for its pension plan? What…

A: Step 1: The Discount rate to be selected must be in consideration with the ability of the company to…

Q: How should gains or losses related to pension plan assets be recognized? How does this treatment…

A:

Q: at is the proper way to record an advance to an employee as well as

A: A salary advance is nothing more than a loan that you can give to an employee. The advance is…

Q: Do post-retirement benefits have a comparable accounting process to pension benefits?

A: The answer:…

Q: Define Employee Retirement Income Security Act (ERISA)

A: The 1974 Employee Retirement Income Security Act secures American pension resources by enforcing…

Q: Define prior service cost. How is it reported in the financial statements? How is it included in…

A: Pension:  A pension is a type of retirement plan in which an employer makes a contribution to a pool…

Q: Which are the components of pension expense that involve delayed recognition?

A:

Q: Identify the major payroll tax forms and describe the purpose of each.

A: Payroll tax refers to the percentage which is withheld from the pay or salaries of the employee…

Q: How does the Federal Unemployment Tax Act affect your place ofwork or prospective career?

A: The Federal Unemployment Tax Act (FUTA) is a United States federal law that imposes a federal…

Q: What is the general term that covers social insurance and pension fund payments alone with wages and…

A: Social security schemes, is the term that covers social insurance and pension fund payments alone…

Q: Define the interest cost component of the periodic pension expense.

A: Pension: A fixed sum of money, receivable in future or after the age of retirement, which the…

Q: What are some other pensions plans, and how do they differ from the Defined Contribution Pension…

A: A retirement plan that would earn the investments return in addition to the savings of each…

Q: and discuss the key accounting issues in determining the method of accounting for defined benefit…

A: Pension Accounting Many organizations provide additional benefits to their employees in addition to…