Question 1

When preparing a payroll journal entry for a salaried employee you must -

Accepted Answer

A)  record the regular hours worked to determine the salary amount
B)  show the hours worked during the period for EI purposes
C)  show the hours worked during the period for CPP purposes
D)  show the hours worked during the period for WCB (or WSI
B)  purposesE) A) and D)
F) None of the above

Question 2

The payroll journal may be used for only one of the following -

Accepted Answer

A)  all payments of employee cash transactions
B)  all payments for employee purchase transactions
C)  all payments that are wage or salary related
D)  all payments to employeesE) A) and C)
F) A) and D)

Question 3

Which one of the following general statements about payroll is incorrect -

Accepted Answer

A)  all payroll cheque run entries are recorded with the same posting date
B)  quick add will add the employee name to the payroll ledger
C)  one-time bonus payments should be recorded separately
D)  you may edit any field that is not dimmedE) None of the above
F) A) and B) B

Question 4

You can adjust a payroll journal entry after posting by -

Accepted Answer

A)  selecting a different employee
B)  changing the wage rate
C)  accessing the adjust paycheque feature from the payroll journal
D)  changing the number of hours workedE) A) and B)
F) All of the above

Question 5

When an employee is entitled to sick leave and takes two days off during a pay period -

Accepted Answer

A)  enter 2 in the sick leave days earned field on the entitlements tab screen in the payroll journal
B)  enter 2 in the sick leave days taken field on the entitlements tab screen in the employee ledger
C)  enter 2 in the sick leave days taken field on the entitlements tab screen in the payroll journal
D)  reduce the number of hours worked on the income tab screen in the payroll journal by 2 daysE) A) and B)
F) A) and D)

Question 6

Which of the following statements about payroll journal entries is correct -

Accepted Answer

A)  you can adjust a posted payroll journal entry from the payroll cheque run journal
B)  you cannot change the default number of regular hours in the payroll cheque run journal
C)  you can edit the piece rate in the payroll cheque run journal
D)  you can adjust a payroll cheque run journal entry in the payroll journalE) A) and B)
F) A) and C)

Question 7

The payroll journal transaction report screen does not show -

Accepted Answer

A)  if the employee is paying RRSP contributions
B)  if the employee is receiving an advance
C)  the employee's gross pay amount
D)  if the employer is retaining vacation payE) C) and D)
F) A) and D) C

Question 8

Which of the following payroll details cannot be entered in the payroll cheque run journal -

Accepted Answer

A)  personal or sick leave days taken
B)  employee benefits
C)  advances given and recovered
D)  all of the above can be entered in the payroll cheque run journalE) A) and B)
F) A) and C)

Question 9

When you post a payroll entry the following accounts are updated -

Accepted Answer

A)  all properly linked payroll ledger accounts
B)  only the employee's wages expense and wages payable ledgers
C)  only the employer's wages expense and wages payable ledgers
D)  only the employee's earnings and deductionsE) A) and B)
F) C) and D)

Question 10

The payroll journal entry and report screens will show that the employer did not -

Accepted Answer

A)  contribute to the EI and CPP payable
B)  contribute to the EHT payable
C)  contribute to the WCB payable
D)  contribute to the RRSP payableE) B) and C)
F) All of the above

Question 11

When in the process of correcting a data error in the payroll entry after posting -

Accepted Answer

A)  one should remember to recalculate the taxes
B)  one should remember to reverse all amounts
C)  one should remember to first cancel the entry
D)  one should remember to re-enter all dataE) A) and D)
F) A) and C) A

Question 12

When you prepare a payroll remittance for the first time -

Accepted Answer

A)  the historical balance forward amount is added automatically
B)  changing the pay period ending date changes the amounts on the remittance form
C)  you can enter any period ending date after the fiscal start date
D)  both a and c above are correctE) B) and D)
F) C) and D)

Question 13

In the process of correcting a wrong employee error all but one is used -

Accepted Answer

A)  prepare a new entry for the correct employee
B)  open the adjust cheque window for the employee
C)  all amounts are automatically reversed when you choose void paycheque
D)  one should remember to recalculate the taxesE) B) and D)
F) B) and C)

Question 14

Transactions entered in the payroll journal will not record -

Accepted Answer

A)  all necessary details of the employees pay
B)  only hourly wage related types of transactions
C)  hourly rated,salary and commission payments
D)  all earnings and deductions for the employeeE) B) and D)
F) None of the above

Question 15

You should enter a date of termination for an employee -

Accepted Answer

A)  to indicate that the employee works on a short-term contract
B)  as soon as you learn the date the employee plans to leave
C)  after the employee has left the company
D)  at any time before the employee leaves the companyE) None of the above
F) A) and D)

Question 16

The payroll journal entries for different employees -

Accepted Answer

A)  must link the wages for all employees to the same wage expense account
B)  must link the EI expenses for all employees to the same EI expense account
C)  must use a single expense account for regular wages,salary and commissions
D)  none of the aboveE) B) and D)
F) B) and C)

Question 17

The payroll journal entry and report screens show that only the employer -

Accepted Answer

A)  contributed to the CPP payable
B)  contributed to the EI payable
C)  contributed to the RRSP payable
D)  contributed to the WCB payableE) A) and B)
F) C) and D)

Question 18

The employee summary report option shows -

Accepted Answer

A)  wage or salary amounts
B)  all year-to-date totals
C)  all information entered in employee records
D)  earnings and deductions from a paychequeE) A) and B)
F) C) and D)

Question 19

When an employee has chosen to deposit paycheques directly to his/her bank account -

Accepted Answer

A)  you can click direct deposit in the journal to issue a regular cheque
B)  you must add the bank account number to the payroll journal for the employee
C)  you cannot enter the paycheque in the payroll cheque run journal
D)  you cannot issue a cheque directly to the employee unless you change the employee ledger settingsE) A) and B)
F) A) and C)

Question 20

How do EI,CPP,and Income Tax deductions differ from other payroll deductions -

Accepted Answer

A)  they are federal government amounts calculated by the program
B)  they are exempt from income tax
C)  they are deducted from the gross earnings
D)  they are entered just like any other deductionsE) A) and C)
F) C) and D)

Exam 8: Helenas Academy

When preparing a payroll journal entry for a salaried employee you must -

Correct AnswerverifiedShow Answer

The payroll journal may be used for only one of the following -

Correct AnswerverifiedShow Answer

Which one of the following general statements about payroll is incorrect -

Correct AnswerverifiedB

You can adjust a payroll journal entry after posting by -

Correct AnswerverifiedShow Answer

When an employee is entitled to sick leave and takes two days off during a pay period -

Correct AnswerverifiedShow Answer

Which of the following statements about payroll journal entries is correct -

Correct AnswerverifiedShow Answer

The payroll journal transaction report screen does not show -

Correct AnswerverifiedC

Which of the following payroll details cannot be entered in the payroll cheque run journal -

Correct AnswerverifiedShow Answer

When you post a payroll entry the following accounts are updated -

Correct AnswerverifiedShow Answer

The payroll journal entry and report screens will show that the employer did not -

Correct AnswerverifiedShow Answer

When in the process of correcting a data error in the payroll entry after posting -

Correct AnswerverifiedA

When you prepare a payroll remittance for the first time -

Correct AnswerverifiedShow Answer

In the process of correcting a wrong employee error all but one is used -

Correct AnswerverifiedShow Answer

Transactions entered in the payroll journal will not record -

Correct AnswerverifiedShow Answer

You should enter a date of termination for an employee -

Correct AnswerverifiedShow Answer

The payroll journal entries for different employees -

Correct AnswerverifiedShow Answer

The payroll journal entry and report screens show that only the employer -

Correct AnswerverifiedShow Answer

The employee summary report option shows -

Correct AnswerverifiedShow Answer

When an employee has chosen to deposit paycheques directly to his/her bank account -

Correct AnswerverifiedShow Answer

How do EI,CPP,and Income Tax deductions differ from other payroll deductions -

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
B

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
C

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
A

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified