Table of contents

1. Introduction to Accounting1h 21m
2. Transaction Analysis1h 13m
3. Accrual Accounting Concepts2h 38m
4. Merchandising Operations2h 30m
5. Inventory1h 55m
6. Internal Controls and Reporting Cash1h 16m
7. Receivables and Investments3h 8m
8. Long Lived Assets5h 1m
9. Current Liabilities2h 19m
10. Time Value of Money1h 23m
- Time Value of Money Equations
  35m
- Using Time Value of Money Tables
  47m
11. Long Term Liabilities2h 45m
12. Stockholders' Equity2h 15m
13. Statement of Cash Flows2h 24m
14. Financial Statement Analysis5h 25m
15. GAAP vs IFRS56m

9. Current Liabilities

Payroll and Payroll Taxes

Financial Accounting

9. Current Liabilities

Payroll and Payroll Taxes

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Multiple Choice

Which accounting record tracks time for hourly workers and attendance for salaried employees?

Payroll register

Time card

Earnings record

General ledger

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Verified step by step guidance

Understand the purpose of each accounting record mentioned in the problem. For example, a payroll register summarizes payroll information, a time card tracks hours worked, an earnings record details employee earnings, and a general ledger records all financial transactions.

Focus on the specific requirement of the problem: tracking time for hourly workers and attendance for salaried employees. This narrows down the options to records that deal with employee time and attendance.

Analyze the function of a time card. A time card is specifically designed to record the hours worked by hourly employees and can also be used to track attendance for salaried employees.

Compare the function of a time card with the other options provided. For instance, a payroll register and earnings record focus on payroll and earnings details, while the general ledger is a broader financial record not specific to time tracking.

Conclude that the correct accounting record for tracking time for hourly workers and attendance for salaried employees is the time card, based on its specific purpose and functionality.