Homework Answers
|
Total FUTA and SUTA taxes for Payroll |
$420 |
|
SUTA (7000*5.4%) |
378 |
|
FUTA (7000*(6%-5.4%)) |
42 |
|
Total FUTA and SUTA taxes for Payroll |
$420 |
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The SUTA rate for Forth Corporation is 5.4% and its FUTA rate is 6% less the...
The last biweekly payroll of Capital Construction was $44,979 for 47 employees. Of the total, $38,493...
The last biweekly payroll of Capital Construction was $44,979 for 47 employees. Of the total, $38,493 was for payments to employees in excess of the $7,000 wage base. What were the total FUTA and SUTA taxes for the payroll? The company's SUTA rate is 5.4% and its FUTA rate is 6% less the 5.4% SUTA credit.
The current FUTA tax rate is 0.6%, and the SUTA tax rate is 5.4%. Both taxes...
The current FUTA tax rate is 0.6%, and the SUTA tax rate is 5.4%. Both taxes are applied to the first $7,000 of an employee's pay. Assume that an employee earned total wages of $10,100. What is the amount of total unemployment taxes the employer must pay on this employee's wages?
The current FUTA tax rate is 0.6%, and the SUTA tax rate is 5.4%. Both taxes...
The current FUTA tax rate is 0.6%, and the SUTA tax rate is 5.4%. Both taxes are applied to the first $7,000 of an employee's pay. Assume that an employee earned total wages of $2,900 in the current period and had cumulative pay for prior periods of $5,800. What is the amount of unemployment taxes the employer must pay on this employee's wages for the current period? A) 420 B) 0 C) 174 D) 348 E) 72
I need to figure out the September earnings subject to tax for FUTA & SUTA. And...
I need to figure out the September earnings subject to tax for
FUTA & SUTA. And also the general journal.
BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $128,400 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7.000 paid to its employee. Gross Pay through August 31 $ 5,600 2,550 123,200 Gross Pay for...
PROBLEM Y: PREPARING THE Using the information below, determine payroll period ending March 31, 2018 FUTA,...
PROBLEM Y: PREPARING THE Using the information below, determine payroll period ending March 31, 2018 FUTA, and SUTA. Then, recor THE PAYROLL-TAY-ENTRY (10 POINTS Manch h e amount of the p laces incurred for Mary Jane's Pies for the In your answer is the amount for FICA: (Social Security and Medicare record the payroll somal entry of the emple Employee Current Period Gross Pay 300 700 Cewe Gry Farger Curreal 5,000 4.200 8.100 Assume the following [0FUTA net Tax 6%...
Alamar Petroleum Company offers its employees the option of contributing retirement funds up to 5% of...
Alamar Petroleum Company offers its employees the option of contributing retirement funds up to 5% of their salaries, with the contribution being matched by Alamar. The company also pays 80% of medical and life insurance premiums. Deductions relating to these plans and other payroll information for the first biweekly payroll period of February are listed as follows: Wages and salaries $ 2,100,000 Employee contribution to voluntary retirement plan 85,000 Medical insurance premiums 43,000 Life insurance premiums 9,100 Federal income...
Black Robot Grill of Andrews, Texas, has the following employees as of December 31: Employee N...
Black Robot Grill of Andrews, Texas, has the following employees as of December 31: Employee Name Annual Taxable Wages Mark English $ 30,000 Shelly Morris $ 10,000 TL Radford $ 22,000 James Morrow $ 31,000 Trella Lyons $ 27,000 Required: The company's SUTA tax rate is 6.25 percent and wage base is $8,000. Black Robot's Grill's FUTA tax rate of 6 percent is subject to a 5.4 percent reduction and applies to the first $7,000 of employee wages. What is...
Calculate employer's total FUTA and SUTA tax. As TCLH Industries operates in North Carolina, assume a SUTA tax rate of 1.2% and a taxable earnings threshold of $23,500. Current period taxable earn...
Calculate employer's
total FUTA and SUTA tax. As TCLH Industries operates in North
Carolina, assume a SUTA tax rate of 1.2% and a taxable earnings
threshold of $23,500. Current period taxable earnings for FUTA and
SUTA taxes are the same as those for FICA taxes. Year-to-date
taxable earnings for FUTA and SUTA taxes, prior to the current pay
period, are as follows:
Zachary Fox: $0
Calvin Bell: $20,478.57
David Alexander: $198,450
Michael Sierra: $117,600
NOTE: For
simplicity, all calculations throughout...
PLEASE TYPE OUT THE ANSWER THANK YOU Employers will receive a credit against the Federal Unemployment...
PLEASE TYPE OUT THE ANSWER THANK YOU Employers will receive a credit against the Federal Unemployment Tax (FUTA) obligation for a portion of any payments made toward the State Unemployment Tax (SUTA) fund. Based on the following data, compute the amount of credit the company will receive against their total FUTA tax, to determine the amount due at the time of filing: ABC Company has annual wages to employees totaling $151,000 for. The portion of those wages exceeding the $7,000...
The 42 on FUTA is wrong Please correct me and explain your answers. Required information Use...
The 42 on FUTA is wrong Please correct me and explain your
answers.
Required information Use the following information for the Exercises below. The following information applies to the questions displayed below.] BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $128,400 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to its employee....
The last biweekly payroll of Capital Construction was $44,979 for 47 employees. Of the total, $38,493 was for payments to employees in excess of the $7,000 wage base. What were the total FUTA and SUTA taxes for the payroll? The company's SUTA rate is 5.4% and its FUTA rate is 6% less the 5.4% SUTA credit.
The current FUTA tax rate is 0.6%, and the SUTA tax rate is 5.4%. Both taxes are applied to the first $7,000 of an employee's pay. Assume that an employee earned total wages of $10,100. What is the amount of total unemployment taxes the employer must pay on this employee's wages?
I need to figure out the September earnings subject to tax for
FUTA & SUTA. And also the general journal.
BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $128,400 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7.000 paid to its employee. Gross Pay through August 31 $ 5,600 2,550 123,200 Gross Pay for...
PROBLEM Y: PREPARING THE Using the information below, determine payroll period ending March 31, 2018 FUTA, and SUTA. Then, recor THE PAYROLL-TAY-ENTRY (10 POINTS Manch h e amount of the p laces incurred for Mary Jane's Pies for the In your answer is the amount for FICA: (Social Security and Medicare record the payroll somal entry of the emple Employee Current Period Gross Pay 300 700 Cewe Gry Farger Curreal 5,000 4.200 8.100 Assume the following [0FUTA net Tax 6%...
Calculate employer's
total FUTA and SUTA tax. As TCLH Industries operates in North
Carolina, assume a SUTA tax rate of 1.2% and a taxable earnings
threshold of $23,500. Current period taxable earnings for FUTA and
SUTA taxes are the same as those for FICA taxes. Year-to-date
taxable earnings for FUTA and SUTA taxes, prior to the current pay
period, are as follows:
Zachary Fox: $0
Calvin Bell: $20,478.57
David Alexander: $198,450
Michael Sierra: $117,600
NOTE: For
simplicity, all calculations throughout...
The 42 on FUTA is wrong Please correct me and explain your
answers.
Required information Use the following information for the Exercises below. The following information applies to the questions displayed below.] BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $128,400 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to its employee....
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