chapter 12

2. method of paying an employee bases on amount of sales the employee generates.
5. form used to record details of employee’s earning and deductions.
7. bases on the payroll of a business.
10. qualified retirement plan sponsored by an employer.
12. payment of an employee’s net pay using electronic funds transfer.
13. amount paid to employee for every hour worked.
14. fixed annual sum of money divided among pay periods.
17. retirement plan that allows tax-free withdrawals from the account.
18. total earnings paid to an employee after payroll taxes and other deductions.
19. check with detachable check stub that contains information about payment.
20. total amount earned by all employees for a pay period.
21. maximum amount of gross earnings where a tax can be calculated.
22. total amount paid by business for employee’s work, warned by a wage, salary, or commission.
23. federal tax paid for hospital insurance

1. accounting staff position that compiles and computes payroll date, then prepares, journalizes and posts payroll transactions.
3. device used to record dates and time of every employee’s arrival and departure.
4. federal tax paid for old age, survivors, or disability insurance.
6. total gross earnings year to date for an employee.
7. amount withheld from an employee’s gross earnings.
8. qualified retirement plan that provides most individuals a differed federal income tax benefit.
9. savings plan approved by the Internal Revenue Service that provides individuals with a tax benefit.
11. form that summarizes the earnings, deductions, and net pay for all employees for on pay period.
15. number of days or weeks of work covered by employee’s paycheck.
16. deduction from total earnings for each person legally supported by a tax payer.