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Payroll Accounting 2024, 10th Edition, Landin (Solutions Manual for All Chapters) $22.99
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Payroll Accounting 2024, 10th Edition, Landin (Solutions Manual for All Chapters)
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Solutions Manual For Payroll Accounting 2024, 10th Edition, Landin, Schirmer / Jeanette Landin 10th Edition Solutions For Payroll Accounting. Jeanette Landin, Paulette Schirmer, 9781264443468, Solutions Manual / Landin 10e Solutions, Schirmer 10e Solutions Manual Accounting.

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  • November 1, 2024
  • 305
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • Payroll Accounting
  • Payroll Accounting

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SOLUTIONS MANUAL
PAYROLL ACCOUNTING 2024 LANDIN


CHAPTER NO 01: PAYROLL PRACTICES AND SYSTEM FUNDAMENTALS

ANSWERS TO END-OF-CHAPTER MATERIALS

REVIEW QUESTIONS

1. What is the purpose of a payroll system?

a. Provide for internal and external reporting of employee wages and associated

taxes, payment of employee compensation, and monitoring of benefits to

employees. It also serves as a means of tracking labor costs that managers use

for decision-making, budgeting, and planning.

2. What are two differences between large- and small-company payroll practices?

a. Small companies would have fewer employees and reporting requirements and

would be less likely to be required to have automated payroll systems.

b. Large companies have more employees and greater departmentalization. This

increase in employees leads to a higher level of complexity in payroll

accounting, disbursements, and reporting. Larger companies may also provide

Intranet portals for employee self-service options. Additionally, larger

companies may need additional accuracy checks.

3. What is certified payroll? Which companies must use it?

a. Certified payroll is a reporting requirement for companies that work with

federal contracts that are subject to Davis-Bacon wages. Only those companies

that have these types of employees would be required to complete a certified

payroll.

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4. Why might it be a good idea to let employees manage their payroll records? What are

some of the pitfalls?

a. An advantage of allowing individuals to self-manage their payroll records

would be the employee would be able to answer some simple questions on their

own without having to come to the payroll accountant for answers. If

employees have access to their payroll records, there would be the need to allow

multiple access points to the confidential information. These open channels

would require security settings to ensure the requirements of confidentiality are

maintained.

5. What are two ways a payroll system may protect a company in the event of a visit from

a government auditor?

Answers may vary, but should contain:

a. The establishment and maintenance of an accurate payroll system. Timely and

accurately reporting wages and withholdings. Adherence to the legal

framework of payroll.

6. What is payroll outsourcing? When might a company consider outsourcing its

payroll?

a. Payroll outsourcing is the process of contracting another company for the

preparation, reporting, and filing of employee payroll. Companies may consider

this option if the company sees a benefit to the company that outweighs the cost

of outsourcing.

7. What are three examples of federal laws that are essential to ensure legal, fair hiring

practices?

Answers should contain three the following:

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a. American with Disabilities Act

b. Age Discrimination in Employment Act

c. Fair Labor Standards Act

d. Civil Rights Act

8. What are the major types of payroll processing methods?

a. Manual

b. Computerized

c. Outsourced

d. Certified

9. What are two laws governing the taxes that employers must withhold from employees?

a. 16th Amendment of the U.S. Constitution

b. Social Security Insurance Act

10. What are the guidelines for FLSA, in terms of overtime and pay rate?

a. Maximum hours that covered individuals can work

b. Minimum pay for covered individuals

c. Minimum age for workers

d. Mandatory break times for covered employees

11. Why was the Social Security Act of 1935 created? What were its provisions?

a. The Social Security Act of 1935 was designed to create a contribution-driven

fund to achieve a level of financial stability for the worker when he or she

became too old or infirm to work.

12. How did the Medicare and Medicaid Act of 1965 modify the Social Security Act of

1935?

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a. It was passed to fund medical services needed by older adults, disabled persons,

and low-income individuals.

13. What are two of the advantages of a computerized payroll system over a manual

system?

a. A computerized payroll system can meet the tax and regulatory requirements

efficiently and can typically be set to automatically update for tax law changes.

Web portals can streamline overtime reporting and other functions. A recent

trend in computerized processing is the issuance of employee paycards.

14. Which Act created the term “full-time equivalents”?

a. The Affordable Care Act created the term full time equivalents to determine the

number of employees that should be offered health care coverage under the ac t.

15. How has cloud-based payroll processing affected contemporary payroll practices?

a. Cloud-based payroll processing allows a company the scale of larger

corporations without the additional licensing or responsibilities for updates.

Cloud-based services can contain security comparable with on-site accounting

software.

16. What are two differences between the completion of the I-9 and E-Verify systems?

Answers may vary, but could contain the following:

a. I-9 is mandatory while E-Verify is voluntary.

b. I-9 does not require a Social Security number while E-Verify does.

c. I-9 does not require a photo identification (List B) while E-Verify does.

d. I-9 must be used to reverify expired employment authority while E-Verify may

not be used for this purpose.

17. What was the purpose of the SECURE Act?

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