Lesson 38: Independent Practice: Accounting for Payroll and Payroll Taxes
Duration of Days: 4
Lesson Objective
To prove mastery of payroll accounting, students should be able to effectively apply accounting principles to accurately complete payroll-related tasks. This includes employer annual report to employees of taxes withheld, employer’s quarterly federal tax return, preparing employer’s quarterly federal tax return, employer annual reporting of payroll taxes
What are the key pieces of information provided in the problem, and how do they relate to the employer's quarterly federal tax return?
How do you calculate the total amount of federal income tax, Social Security, and Medicare taxes owed for the quarter?
What are the key requirements for the employer's annual payroll tax reporting, including Forms 940 and 941?
CTE Business & Finance Technology
F. Special Applications: Apply appropriate accounting principles to payroll.
22. Prepare and maintain payroll records.
The SAT measures student proficiency in math reading, language, and writing. With strong scores, accounting students set themselves up for successful entry into accounting and finance programs
Description: To ensure students have a comprehensive understanding of payroll tax compliance, including the preparation and filing of various tax forms.
Purpose: effectively apply accounting principles to accurately complete payroll-related tasks. This includes employer annual report to employees of taxes withheld, employer’s quarterly federal tax return, preparing employer’s quarterly federal tax return, employer annual reporting of payroll taxes
DOK 4
Independent practice accounting concepts/transactions promote critical thinking and problem-solving in accounting. Helps identify areas where they excel or need improvement.
To highlight the importance of documentation and verification in maintaining accurate financial records
Errors in adding or subtracting amounts, leading to incorrect financial records is not important.
Sampling, modeling, one one instruction, Google classroom or Moodle. Paper or or online assignments, online instructional tools, videos, textbook or online textbook, excel real world application of information, Spanish version available for ELL students
Application or mastery or challenge working papers
Century 21, Accounting, General Journal, 11th edition, online/paper edition
Online working papers (Mindtap)
Microsoft Excel software
Online instructional tools