How to determine the estimated net cost of benefits to the employer?

Q: Describe Defined Benefits Plan and Defined Contribution Plan. 2. What is the difference between…

A: The question is related to Employees Benefits.Both the Plan are post employment Plans. Accounting…

Q: What payroll taxes is the employer responsible for paying?

A: Employer payroll taxes: The taxes which the employer must pay to the employees with their salaries…

Q: Which of the following is paid by both the employer and the employee? Group of answer choices Social…

A: Payroll tax: Payroll taxes refer to the taxes which are equally contributed by employees and…

Q: Under the FLSA, what information concerning employees' wages earned must be maintained by the…

A: Payroll Register: Payroll register is a schedule maintained by the company to record the earnings,…

Q: How should an employer's commitment for employee benefits be calculated, according to AASB 119

A: Definition: In the context of employee benefits, this refers to all types of consideration offered…

Q: Under what conditions must an employer accrue a liabilityfor the cost of compensated absences?

A:

Q: difference between Wages and Salary?

A: Wages and salaries are the remuneration paid to the employees by the employer for their contribution…

Q: What should be acknowledged in the employee written permission for employer optional deductions?

A: When an employer wishes to make optional deductions from an employee's wages or salary, it's…

Q: How is compensation expense computed using the fair value approach?

A: The fair value method records the compensation for stock option transactions at fair value of the…

Q: Use examples to support your answer above. (What kind of expenses is allowable for Self-employed)

A: A self employed person is the person who is working on their own means he or she is the boss of…

Q: When is an employer-employee relationship exist?

A: Definition:

Q: Which payroll taxes are the responsibility of the employee and which are the responsibility of the…

A: Introduction: Payroll taxes: Payroll taxes are levied on both employers and employees and are…

Q: How do I account for an advance to an employee and the resulting deduction?

A: An advance to employee means to pay the salary or money to such employee before the due date.

Q: , is best defined as An asset account An account showing the benefits to be paid to the employee An…

A: Benefits payable refer to the additional perks that are paid to employees, in addition to their…

Q: Which of the following is not an approach to financing employee benefits? Select one: a.…

A: Employee benefits refer to the benefits that are provided to the employees over or above the…

Q: 22 What must an employer disclose in a defined contribution plan? The amount to be paid by the…

A: A Defined Contribution Plan is a retirement savings arrangement where employers and employees…

Q: Record the employer's benefit expense.

A: Payroll taxes are defined as the amounts collected by the government or revenue collection authority…

Q: What is the primary objective of any base wage and salary system?

A: A basic salary, also known as a base salary, is the amount of money that a salaried employee…

Q: proper plan

A: The obligation for collecting and remitting withholding taxes to the Internal Revenue Service lies…

Q: Direct Compensation coverage.

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

Q: Wage and tax statatement data employer FICA Tax

A: We have the following information: Social Security Tax - 6%Medicare Tax - 1.5%

Q: PAS 19

A: Objective of IAS 19 (2011) The objective of IAS 19 is to prescribe the accounting and disclosure for…

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: What is a defined contribution benefit plan and explain the pros and cons

A: There are mainly two retirement plans available : Defined contribution plan and defined benefit…

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: An experience rating, or merit rating a.  directly adjusts the benefit amount the unemployed…

A: The correct answer is option (c).

Q: What purpose does the individual employee earnings record serve?

A:

Q: According to AASB 119, how should an employer's obligation for employee benefits be measured?

A: Employee benefits refer to the consideration of all forms that are given by an entity to its…

Q: Pension benefits contributed by the employer affects both the projected benefit obligation and…

A: A projected benefit obligation (PBO) is an actuarial measurement of what a company will need at…

Q: Why must pay rate information be a part of an employee’s payroll file? A.  As a means of tracking…

A: Pay rate refers to the amount of money an employee is paid for performing a specific job or task…

Q: Do workers compensations statutes apply to seasonal or temporary workers? Explain

A: Definition: Worker’s compensation scheme: Worker’s compensation scheme is an arrangement that…