Payroll-CPP: Certified Payroll Professional

Payroll-CPP: Certified Payroll Professional practice questions, page 8 of 8, with answer review and explanations.

Question 36

Which of the following general ledger accounts maintains a normal debit account balance?

  1. Taxes payable
  2. Payroll expense
  3. Retained earnings
  4. Accrued wages payable

Question 37

All of the following are steps to reconciling a payroll account EXCEPT verifying:

  1. against the accounts receivable register.
  2. against the payroll register.
  3. checks issued by accounts payable.
  4. the end of the month balance.

Question 38

Monday, September 2, is Labor Day. For a company that paid a bonus on Friday, August 30, with a total tax liability of $105,000.00, when MUST the taxes be deposited to be considered timely?

  1. Friday, August 30
  2. Monday, September 2
  3. Tuesday, September 3
  4. Wednesday, September 4