Under the FLSA, employers are subject to a civil money penalty of up to $11,000 per worker for each violation of the child labor provisions. True False

Linda Sue Carr worked for a large food brokerage firm. In January of this year she was terminated. After a court battle Linda Sue was reinstated in her job and received from the firm in November $7,500 in punitive damages. Must Linda Sue include the $7,500 in punitive damages in her 2023 gross income?

The Director of Insurance may revoke, suspend, or refuse to issue a producer license  for failing to pay all the following EXCEPT: California taxes child support Director-levied civil penalties license renewal fees

Under ASC 710-10-25-1, an employer shall accrue a liability for employees' compensation for future absences if all the following conditions are met: I. The employer's obligation relating to employees' rights to receive compensation for future absences is attributable to employees' services already performed. II. The paid absence can be taken in a later year-the benefit vests (will be compensated even if employment is terminated) or the benefit can be accumulated over time. III. Payment of the compensation is probable. IV. The amount can be reasonably estimated. If the amount cannot be reasonably estimated, None of the other answers is correct. O There is no need to disclose it. The employer shall accrue a liability in balance sheet. The employer shall disclose it in the notes to financial statements.

t or f  Full-time students and prisoners are counted as unemployed

These provide an employee with financial security upon ceasing employment. A wide variety of these exist, and withholding from gross pay for these plans is a voluntary deduction. The withholding of a portion of an employee's earnings, in compliance with a court order or other legal proceeding. Limited to the lesser of 25% of disposable earnings or the amount of disposable earnings that exceed 30 times the federal minimum wage. A flexible spending account that is designated for a specific purpose. It is a type of cafeteria plan.

Question 19: Which statement is incorrect regarding wage garnishments? Answer: А. They are only ordered by a court or other legal proceeding. В. The amount of the garnishment is based on disposable earnings. С. The limit can be increased for child support. D. O If multiple garnishments are in effect, they are satisfied in the order in which they were received.

BMX Company has one employee. FICA Social Security taxes are withheld in the amount of $316.20. FICA Medicare taxes are withheld in the amount of $73.95. Federal unemployment taxes are $30.60 and State unemployment taxes are $275.40 for this pay period. Medical Insurance of $242.25 is withheld as requested by the employee and federal income taxes are $607.05. Use this information to record below the journal entry for the employer's payroll tax expense for this first pay period of the year in January. Note: Round your answers to 2 decimal places. View transaction list View journal entry worksheet No 1 Date January 31 General Journal Payroll taxes expense FICA-Social security taxes payable FICA-Medicare taxes payable Federal unemployment taxes payable State unemployment taxes payable Debit 696.15 Credit 316.20 73.95 30.60 275.40

Beam Hines is a translator who works for a consulting firm in Mississauga. Her 2020 salary is $73,500, from which her employer, a Canadian controlled private company, deducts maximum CPP and EI contributions. Also deducted is an RPP contribution of $2,600. The employer makes a matching contribution ($2,600). Her employment compensation does not include any commission income. Other Information:1. To reward Beam for her outstanding work, and as an incentive to stay with the company, her employer has awarded her a bonus of $10,000 that will be paid in August 2021. 2. Beam received options to purchase 200 shares of her employer’s stock at a price of $72 per share last year. At the time the options were granted, the fair market value of the shares was $74 per share. During May 2020, when the shares had a fair market value of $90 per share, Beam exercises all of these options. She is still holding these shares at the end of the year. (Note: please mention the result of stock options benefit…

An employee who files as Married Filing Jointly, is paid biweekly, works one job, and completed the current Form W-4 will have no federal income tax withholding if using the percentage method provided their adjusted wages do NOT exceed $