You Are an Administrative Assistant for the Vice President of an International

question 35

Short Answer

You are an administrative assistant for the vice president of an international bank. The vice president has asked you to prepare a budget for a corporate meeting using an Excel program bundled in the newly acquired Office 2007 suite. Interested in learning about the functionality of Excel, the vice president asks you some questions about your work on the budget. The Excel spreadsheet in progress appears below. What is the name for the data entry box formed by the intersection of a row and column?

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Definitions:

Form 940

A tax form filed by employers with the IRS to report annual Federal Unemployment Tax Act (FUTA) tax.

Employer's Payroll Tax Expense

Taxes that an employer is responsible for paying on behalf of its employees, such as social security and Medicare taxes.

General Journal Entry

A record in the general journal that documents a business transaction, including the accounts affected and the debit and credit amounts.

Total Deductions

Total deductions refer to the sum of all amounts subtracted from an individual’s gross income or earnings, which can include taxes, social security contributions, and retirement plan contributions.