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Preface | |
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Introduction | |
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The Nature of Payroll Work | |
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Payroll Systems | |
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The People Who Do Payroll Work | |
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Payroll Laws and Regulations | |
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Federal Income Tax Laws | |
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State and Local Income Tax Laws | |
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Social Security Laws | |
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The Fair Labor Standards Act | |
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State Minimum Wage Laws | |
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Other Laws Affecting Wages | |
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Worker's Compensation Laws | |
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State Disability Benefit Laws | |
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Fair Employment Laws | |
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Pension Security Laws | |
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It's a Fact/The Immigration Reform Act | |
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Study Questions | |
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Discussion Questions | |
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New Employee Records | |
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The Job Application Form | |
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The Personnel File | |
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The Social Security Number | |
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It's a Fact/Now Even Children Can Apply | |
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The Withholding Allowance Certificate | |
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The Employee Earnings Record | |
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The Need for Confidentiality/The Case of the Payroll Leak That Became a Flood | |
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Study Questions | |
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Discussion Questions | |
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Review Exercises | |
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Time and Work Records | |
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Payroll Periods | |
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Time Records | |
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Time Cards | |
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Computing Time Worked | |
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Time Sheets | |
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Filing Time Records | |
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It's a Fact/Living...and Working...at Home | |
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Work Records | |
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Production Records | |
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Sales Records | |
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Labor Distribution | |
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The Need for Efficiency/The Case of the Late Time Cards | |
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Study Questions | |
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Review Exercises | |
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Determining Gross Earnings | |
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The Hourly-Rate Plan | |
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It's a Fact/Big Business or Small, You Still Get Paid | |
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The Salary Plan | |
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The Piece-Rate Plan | |
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The Commission Plan | |
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The Salary-Commission Plan | |
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It's a Fact/Flex-Time for Flex-Needs | |
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Bonuses and Profit-Sharing Payments | |
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Bonuses | |
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Profit-Sharing Payments | |
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Tips | |
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Developing Efficient Working Procedures/The Use of the Electronic Calculator in Payroll Work | |
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Study Questions | |
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Review Exercises | |
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Problems | |
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Determining Payroll Deductions | |
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Deductions Required by Law | |
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Federal Income Tax | |
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Social Security (FICA) Tax | |
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State and Local Income Taxes | |
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State Disability Insurance Tax | |
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State Unemployment Compensation Tax | |
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Garnishments | |
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Developing Efficient Working Procedures/The Use of Tax Tables | |
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It's a Fact/Publishing Tax Tables Is Big Business--For Business | |
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Treatment of Tips for Federal Withholding Taxes | |
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Deductions Required by Union Contracts | |
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Voluntary Deductions | |
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Insurance | |
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Pension Plans | |
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Savings Plans | |
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Charitable Contributions | |
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Changes in Payroll Deductions | |
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Computing Net Pay | |
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The Need for Clear Communication/The Case of the Withholding Allowance That Disappeared | |
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Study Questions | |
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Review Exercises | |
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Problems | |
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The Payroll Register | |
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The Format of the Payroll Register | |
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Making Entries in the Payroll Register | |
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Totaling and Proving the Payroll Register | |
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Developing Efficient Working Procedures/Checking Payroll Computations for Accuracy | |
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Using the Payroll Register | |
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The Need for Clear Writing/The Case of the Payroll Register That No One Could Read | |
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Study Questions | |
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Review Exercises | |
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Problems | |
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Employee Earnings Records | |
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The Format of the Employee Earnings Record | |
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Making Entries in the Employee Earnings Records | |
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Totaling the Employee Earnings Records | |
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Using Employee Earnings Records | |
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Authorization to Make Payroll Changes | |
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Retention of Payroll Records | |
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Study Questions | |
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Problems | |
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Paying the Payroll | |
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Payment in Cash | |
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Payroll Change Sheet | |
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Payroll Requisition for the Bank | |
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Pay Envelopes for Employees | |
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Employee Receipts | |
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Payment by Check | |
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Payroll Checks | |
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The Use of a Special Payroll Account | |
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Developing Efficient Working Procedures/Preparing Payroll Checks | |
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Payment by Direct Deposit in Employee Checking Accounts | |
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The Bank Transfer Form | |
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Employee Statements | |
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It's a Fact/Checkless Payments | |
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The Need for Accuracy/The Case of the Little Error That Grew and Grew | |
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Study Questions | |
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Discussion Questions | |
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Problems | |
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Federal Payroll Taxes and Tax Returns | |
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The Employer's Share of the FICA Tax | |
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Computing the Tax | |
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FICA Tax on Tips | |
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Depositing FICA Taxes and Federal Income Taxes | |
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Federal Tax Deposit, Form 8109 | |
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Reporting FICA Taxes and Federal Income Taxes | |
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Employer's Quarterly Federal Tax Return, Form 941 | |
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Wage and Tax Statement, Form W-2 | |
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Transmittal of Income and Tax Statements, Form W-3 | |
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It's a Fact/Financing the Federal Government | |
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Federal Unemployment Compensation Tax | |
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The Unemployment Insurance System | |
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Computing the FUTA Tax | |
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Depositing the FUTA Tax | |
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Using Form 8109 for Quarterly FUTA Deposits | |
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Reporting the FUTA Tax | |
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Employer's Annual Federal Unemployment Tax Return, Form 940 | |
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The Need for Orderly Procedures/The Case of the Forgotten Tax Payment | |
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Study Questions | |
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Review Exercises | |
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Problems | |
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State Payroll Taxes and Tax Returns | |
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State Unemployment Compensation Tax | |
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Computing the SUTA Tax | |
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Responding to Unemployment Benefit Claims | |
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State Disability Insurance Tax | |
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Worker's Compensation Insurance | |
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State Income Tax | |
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Obtaining Information About State Income Tax | |
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Reporting and Paying State Payroll Taxes | |
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Reporting and Paying the SUTA Tax | |
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Reporting and Paying State Disability Insurance and Income Taxes | |
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Issuing Wage and Tax Statements | |
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Local Income Tax | |
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Developing Efficient Working Procedures/Setting Up a Tax Calendar | |
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Study Questions | |
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Discussion Questions | |
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Review Exercises | |
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Payroll Systems | |
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Manual Payroll Systems | |
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Standard Payroll Forms | |
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Custom-Made Payroll Forms | |
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Pegboard System | |
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Electronic Aids | |
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Computerized Payroll Systems | |
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Computer Components | |
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Input Devices | |
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Central Processing Unit | |
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External Storage Devices | |
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Output Devices | |
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Types of Computers | |
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Mainframe Computers | |
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Minicomputers | |
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Microcomputers | |
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Payroll Processing by Service Bureaus | |
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Computerized Payroll Procedures | |
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Flowcharts | |
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It's a Fact/Smart Clocks Make Better Payroll Records | |
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Illustrative Case/A Computerized Payroll System in a Large Business | |
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Illustrative Case/A Computerized Payroll System in a Small Business | |
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Study Questions | |
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Discussion Questions | |
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Review Exercises | |
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Accounting for Payroll | |
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Accounting Records for Payroll | |
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Effects of Payroll Transactions on the Ledger Accounts | |
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Payroll Entries | |
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Recording the Payroll | |
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Recording the Employer's Payroll Taxes | |
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Recording Payment of the Payroll | |
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Recording Deposits of Payroll Taxes | |
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Recording Payment of Amounts Withheld for Voluntary Deductions | |
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Study Questions | |
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Review Exercises | |
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Problems | |
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Tax Tables | |
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Glossary | |
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Index | |