The SUTA rate for Thomson Temp Agency is 5.4% and its FUTA rate is 6% less the 5.4% SUTA credit. If its semimonthly
Q: The last semimonthly payroll of Available Temp Services was $139,600 of gross wages for 113…
A: SUTA taxes = Gross wages x SUTA rate = $139,600 x 5.4% = $7,538.40
Q: According to a summary of the payroll of Scotland Company, $450,000 was subject to the 6.0% social…
A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: The SUTA rate for Thomson Temp Agency is 5.4% and its FUTA rate is 6% less the 5.4% SUTA credit. If…
A: FUTA rate after credit=FUTA rate-SUTA rate=6%-5.4%=0.6%
Q: The SUTA rate for Thomson Temp Agency is 5.4% and its FUTA rate is 6% less the 5.4% SUTA credit. If…
A: SUTA and FUTA taxes are taxes to be paid to state government.These are levied on employees payroll.
Q: Check my work Given the following, calculate the state (assume 5.3%) and federal unemployment taxes…
A: Unemployment Tax - It provides the payment of unemployment compensation to employees and workers who…
Q: Universal Exporting has three warehouse employees: John Abner earns $422 per week, Anne Clark earns…
A: SUTA and FUTA are the payroll tax paid by the employers in the state and federal funds made for the…
Q: William Corp. pays its employees every two weeks. Employee wages earned over a two-week period is…
A: Date Account Titles and Explanation Debit Credit Payroll Tax Expense $6850…
Q: ng to a summary of the payroll of Scotland Company, $450,000 was sub cial security tax and $500,000…
A: The acronym SUTA stands for State Unemployment Tax which has been deducted for the unemployed…
Q: According to a summary of the payroll of Mountain Streaming Co., $110,000 was subject to the 6.0%…
A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…
Q: ABC Company has an agreement to pay its sales manager a bonus of 5% of the income after bonus and…
A: ANSWER INTRODUCTION HERE IN THIS QUESTION BONUS PAID TO SALES MANAGER IS 5% OF THE INCOME AFTER…
Q: According to a summary of the payroll of Scotland Company, $450,000 was subject to the 6.0% social…
A: Wages: Wages are the earnings of the employees for their work to the company they serve. These are…
Q: William Corp. pays its employees every two weeks. Employee wages earned over a two-week period is…
A: Employee wages earned over a two-week period = $250,000 Medicare Tax = 1.5% Medicare Tax ($250000 *…
Q: Widmer Company had grosswages of $320,000 during the week ended June 17. The amount of wages subject…
A: Journal entries are the reporting of the transactions in the books of accounts to maintain a record…
Q: According to a summary of the payroll of Kirby Co., $380,500 in earnings were subject to the 7.6%…
A: Payroll taxes refers to the taxes that are applicable on the payroll expense of the entity. It…
Q: Crane Company has the following data for the weekly payroll ending January 31. Hours…
A: Wages: Wages are the earnings of the employees for their work to the company they serve. These are…
Q: Check my work Given the following, calculate the state (assume 5.3%) and federal unemployment taxes…
A: Unemployment Tax - It provides the payments of unemployment compensation to employees or workers who…
Q: The last weekly payroll of Availble Temp Services was $35,110.00 for 55 employees. The company pays…
A: The following computations are done for Available temp Services to calculate the total cost fringe…
Q: According to a summary of the payroll of Scotland Company, $450,000 was subject to the 6.0% social…
A: The financial transactions are initially recorded in the form of journal entry.
Q: The SUTA rate for Worldwide Industries is 5.4% and its FUTA rate is 6.0% less than the 5.4% SUTA…
A: The weekly payroll is $54174 SUTA rate of 5.4% FUTA Rate i.e. 6.0% less than the 5.4% SUTA credit
Q: Vulcra, Inc., has a semimonthly payroll of $67,000 on September 15, 20--. The total payroll is…
A: Journal entry for payment of wages, and payroll taxes on 15 September
Q: The SUTA rate for Thomson Temp Agency is 5.4% and it’s FUTA rate is 6% less the 5.4% SUTA credit. If…
A: The following is the Calculation of total FUTA and SUTA taxes: SUTA tax = $378FUTA…
Q: According to a summary of the payroll of Scotland Company, $450,000 was subject to the 6.0% social…
A: Social Security tax = Taxable Earnings x Social Security tax rate = $500,000*6.00% = $30,000…
Q: The SUTA rate for Thomson Temp Agency is 5.4% and its FUTA rate is 6% less the 5.4% SUTA credit. If…
A:
Q: Pepa Company has an agreement to pay its sales manager a bonus of 5% of the income after bonus and…
A: Calculation of bonus for the Year are as follows
Q: The current FUTA tax rate is 0.6%, and the SUTA tax rate is 5.4%. Both taxes are applied to the…
A: Tax refers to the amount charged by the government from the individuals and organizations on the…
Q: Lee Company has the following information for the pay period of December 15–31: Gross payroll…
A: Social Security tax payable = Gross payroll x Social security rate = 16,000 x 6% = 960
Q: According to a summary of the payroll of Scotland Company, total salaries were $500,000. Assume…
A:
Q: ASK YOUR TEACHER The SUTA rate for Worldwide Industries is 5.4% and its FUTA rate is 6.0% less the…
A: Weekly payroll = $54174 SUTA rate = 5.40% of Weekly payroll FUTA rate = {6-5.40}% = 0.60% of…
Q: Sunland Company has the following data for the weekly payroll ending January 31. Hours…
A: Employees of Sunland company working hours are 1. L. Helton = 8 + 8 + 10 + 8 + 10 + 3 = 47 hours…
Q: Redmont Company's gross salaries and wages are $50,000, and it withholds $7,500 for income taxes and…
A: The journal entry would be: Date Account Titles and Explanations Debit Credit xxx Salary and…
Q: Use the net FUTA tax rate of 0.6% on the first $7,000 of taxable wages. Faruga Company had FUTA…
A: FUTA taxes : It stands for Federal Unemployment Tax act which is administered by U.S. Department…
Q: XYZ Company had gross wages of $355,000 during the week ended November 30. The amount of wages…
A: Social security tax payable = $285,000 x 6% = $17,100 Medicare tax payable = Gross wages x Medicare…
Q: Nielson Corporation has three employees. Each employee is paid overtime at time and one-half…
A: Payroll is the salary register maintained by the HR department of the company which includes the…
Q: Vulcra, Inc., has a semimonthly payroll of $67,000 on September 15, 20--. The total payroll is…
A: Taxable income: It is the portion of the income on which tax is calculated that is to be paid to the…
Q: A company has four employees who each work 40 hours per week and earn $38 per hour. Federal tax on…
A: Payroll tax expense of employer includes social security tax , medicare tax and unemployment taxes.…
Q: I have been stuck on this problem for a few days. Paloma Co.Has four emplyees.FICA Social Security…
A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…
Q: According to a summary of the payroll of Mountain Streaming Co., $110,000 was subject to the 6.0%…
A: Taxation refers to the imposition of compulsory financial obligations by the government on…
Q: According to a summary of the payroll of PJW Co., $380,500 in earnings were subject to the 7.7% FICA…
A: Total payroll taxes include FICA taxes payable, state and federal unemployment taxes payable.
Q: Peyton Company's payroll for the year is $741,150. Of this amount, $472,770 is for wages paid in…
A: Federal income taxes are imposed in USA. The income tax is calculated by implementing tax rate which…
Q: William Corp. pays its employees every two weeks. Employee wages earned over a two-week period is…
A: Accounts Debit Credit Wages expense 250000 Social security tax payable (6% x $250000)…
Q: Assuming no employees are subject to ceilings for taxes on their earnings, Salaries Payable would be…
A: Salaries are paid to employees net of the taxes and employees contribution withheld. As per thr tax…
Q: William Corp. pays its employees every two weeks. Employee wages earned over a two-week period is…
A: Particular Debit ($) Credit ($)…
Q: Compute the total federal and state unemployment taxes given the following independent scenarios for…
A: The question is based on the concept of calculation of federal unemployment tax (FUT), such tax has…
Q: the current FUTA rate is 0.6% and the SUTA taxt rate is 5.4%. both taxes are applied to the first…
A: SUTA and FUTA are calculated on wages untill wages exceed $ 7000, Which means that if wages are less…
Q: Namsky Co. has the following information for the pay period of December 15 - 31: Gross Payroll…
A: To calculate the salary payable we have to use the following formula; Salaries payable = Gross…
Q: XYZ Company had gross wages of $355,000 during the week ended November 30. The amount of wages…
A: Social security tax payable = $285,000 x 6% = $17,100 Medicare tax payable = Gross wages x Medicare…
Q: On January 21, the column totals of the payroll register for Great Products Company showed that its…
A: Payroll is the total amount paid by the employer to its employee for the period and it includes all…
Q: William Corp. pays its employees every two weeks. Employee wages earned over a two-week period is…
A: Social Security Tax Payable = wages x Social security tax rate = $250,000 x 6% = $15,000
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- The SUTA rate for Thomson Temp Agency is 5.4% and it’s FUTA rate is 6% less the 5.4% SUTA credit. If its semimonthly payroll is payroll is $135,320 and none was for payments to employees in excess of the $7,000 wage base, then what the total FUTA and SUTA taxes ( in $ ) for the payroll? What is the SUTA tax ? What is the FUTA tax ? What is the Total tax?The SUTA rate for LARVA Corporation is 5.4% and its FUTA rate is 6.0% less the 5.4% SUTA credit. If its semimonthly GROSS payroll is $254,400 and none was for payments to employees in excess of the $7,000 wage base, then what are the total FUTA and SUTA taxes for the payroll? O $15,264.00 O $17,844.00 O$28,203.60 O $29,001.60The SUTA rate for Thomson Temp Agency is 5.4% and Its FUTA rate is 6% less the 5.4% SUTA credit. If its semimonthly payroll is $137,320 and none was for payments to employees in excess of the $7,000 wage base; then what are the total FUTA and SUTA taxes (in $) for the payroll? $823.92 SUTA tax $ FUTA tax Total tax Need Help? Enter a number. Read It Watch It Master I
- According to a summary of the payroll of Mountain Streaming Co., $110,000 was subject to the 6.0% social security tax and the 1.5% Medicare tax. Also, $25,000 was subject to state and federal unemployment taxes. a. Calculate the employer's payroll taxes, using the following rates: state unemployment, 5.4%; federal unemployment, 0.8%. b. Journalize the entry to record the accrual of payroll taxes. If an amount box does not require an entry, leave it blank.The SUTA rate for Worldwide Industries is 5.4% and its FUTA rate is 6.0% less than the 5.4% SUTA credit. If its weekly payroll is $54,174, and none was for payments to employees in excess of the $7,000 wage base, then what are the total FUTA and SUTA taxes for the payroll? the options are: a. 2830.44 b. 3250.44 c. 5377.84 d. 6175.84 When I look at this my brain turns to mush, any help is so much appreciated :)The last semimonthly payroll of Available Temp Services was $139,600 of gross wages for 113 employees. Of the total, none 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 6.0% less the 5.4% SUTA credit. $7,956.00 $8,376.00 $15,116.40 $15,914.40
- According to a summary of the payroll of Scotland Company, $450,000 was subject to the 6.0% social security tax and $500,000 was subject to the 1.5% Medicare tax. Federal income tax withheld was $98,000. Also, $15,000 was subject to state (4.2%) and federal (0.8%) unemployment taxes. The journal entry to record accrued salaries would include a ? a. credit to Salaries Payable of $364,500 b. debit to Salaries Expense of $364,500 c. credit to Salaries Expense of $313,000 d. debit to Salaries Payable of $313,000 Which of the following forms is typically given to employees at the end of the calendar year so that employees can file their individual income tax forms? a. Employer’s Quarterly Federal Tax Return (Form 941) b. 401k plans c. Wage and Tax Statement (Form W-2) d. Employee’s Withholding Allowance Certificate (W-4) 5 Which of the following taxes would be deducted in determining an employee’s net pay? a. FUTA taxes b. SUTA taxes c. FICA taxes d. all are correctA company wants to pay a bonus to an employee so that the net pay is $10,000. The federal income tax rate is 15%, the state income tax rate is 4%, the FICA rate is 7.65%, and the company's state unemployment tax rate is 3%. Which of the following is the formula used to determine this payroll calculation? Select one: a. $13,449.90 b. $14,214.64 c. $13,633.27 d. $7,713.07 e. $7,895.78According to a summary of the payroll of Scotland Company, $450,000 was subject to the 6.0% social security tax and $500,000 was subject to the 1.5% Medicare tax. Federal income tax withheld was $98,000. Also, $15,000 was subject to state (4.2%) and federal (0.8%) unemployment taxes. The journal entry to record accrued salaries would include a ? a. credit to Salaries Payable of $364,500 b. debit to Salaries Expense of $364,500 c. credit to Salaries Expense of $313,000 d. debit to Salaries Payable of $313,000
- According to a summary of the payroll of Scotland Company, $450,000 was subject to the 6.0% social security tax and $500,000 was subject to the 1.5% Medicare tax. Federal income tax withheld was $98,000. Also, $15,000 was subject to state (4.2%) and federal (0.8%) unemployment taxes. The journal entry to record accrued salaries would include a ? a. credit to Salaries Payable of $364,500 b. debit to Salaries Expense of $364,500 c. credit to Salaries Expense of $313,000 d. debit to Salaries Payable of $313,000 Question 19 Which of the following forms is typically given to employees at the end of the calendar year so that employees can file their individual income tax forms? a. Employer’s Quarterly Federal Tax Return (Form 941) b. 401k plans c. Wage and Tax Statement (Form W-2) d. Employees Withholding Allowance Certificate (W-4) Question 20 Which of the following taxes would be deducted in determining an employee’s net pay? a. FUTA taxes b. SUTA taxes c. FICA taxes d. all are correctAccording to a summary of the payroll of Guthrie Co., $560,000 was subject to the 6.0% social security tax and the 1.5% Medicare tax. Also, $60,000 was subject to state and federal unemployment taxes.a. Calculate the employer’s payroll taxes, using the following rates: state unemployment, 5.4%; federal unemployment, 0.6%.b. Journalize the entry to record the accrual of payroll taxes.According to a summary of the payroll of Mountain Streaming Co., $110,000 was subject to the 6.0% social security tax and the 1.5% Medicare tax. Also, $25,000 was subject to state and federal unemployment taxes. a. Calculate the employer's payroll taxes, using the following rates: state unemployment, 5.4%; federal unemployment, 0.8%. ______________________ b. Journalize the entry to record the accrual of payroll taxes. If an amount box does not require an entry, leave it blank. Payroll Tax ExpensE _______ __________ Social Security Tax Payable ________ _______ Medicare Tax Payable _______ ________ State Unemployment Tax Payable ________ ______ Federal Unemployment Tax Payable ________ ______