Question

QUESTION 21 Prior to November 14, the Westford Corporation's two employees had the following gross pay: Kevin $37,500 and Linda $6,500. During the week ended November 20, Kevin earned $3,100 and Linda $900. The Corporation's federal unemployment tax rate is 1% of the first $7,000 earned by each employee each year and the state unemployment tax rate is 4% of the first $7,000 eamed by each employee each year Calculate the Corporation's total unemployment payroll taxes for the week ended November 20 a $25 b. $2.400 c. $200 d. $45 QUESTION 22 The Salvatore Corporation spent $7,000,000 for buildings. The buildings were expected to have a 50-year life and a residual value of $2,000,000. The Corporation intends to use the straight-line method to depreciate all its assets. Calculate the total buildings depreciation expense the Corporation will record over the 50-year life of the buildings a $7,000,000 b. $100,000 c. $2,000,000 d. $5,000,000

Answer 1

Solution keuin alreayCaned 3150 prios to the nor be ubject to eunemplaym ghal parol tax nau. irda has eamed 6so0 pnor othe weet leremplameut ta af(7.4) and T000-6 so Thrau ghineayned 900 lsoo ut ke unenplogimeut tar oh ineglagmeut payod tres Sljected to the Option A COreet

Given datais 1ODO OOD asset cost stleutfel vlrie ODDO0D fe time s So yea Take ladn depreciation expen se Residua alue =ASset cost OCD 100 SOD000 DisCaect Optlon-