« previous next »

Author Question: Kelly Interiors employed Jason Baker for 13 weeks during the first quarter of the year. His salary ... (Read 33 times)

Pineapplelove6

  • Hero Member
  • *****
  • Posts: 560
on: Jun 24, 2018
Kelly Interiors employed Jason Baker for 13 weeks during the first quarter of the year. His salary was 680 per week. Compute the FUTA and SUTA taxes Kelly Interiors must pay on Baker's wages for the quarter, assuming that the state rate was 5.8?

Question 2

A 1,00 . bond, with interest at 9 on March 1 and September 1, was sold on October 30 at 105 plus accrued interest. Compute the dollar amount of the sale the seller received. (Assume a 360-day year and a commission of 5 per bond.)


voltaire123

  • Sr. Member
  • ****
  • Posts: 301
Reply #1 on: Jun 24, 2018
Answer to Question 1

462
680 per week  13 weeks = 8,840 total wages
7,00 . maximum  0.00 . = 56 FUTA
7,00 . maximum  0.058 = 406 SUTA
56 + 406 = 462 total unemployment taxes

Answer to Question 2

1,059.75


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

Pineapplelove6

  • Hero Member
  • *****
  • Posts: 560
Reply #2 on: Jun 24, 2018
Correct answers!


voltaire123

  • Sr. Member
  • ****
  • Posts: 301
Reply #3 on: Jun 24, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

In 1844, Charles Goodyear obtained the first patent for a rubber condom.

Did you know?

All adverse reactions are commonly charted in red ink in the patient's record and usually are noted on the front of the chart. Failure to follow correct documentation procedures may result in malpractice lawsuits.

Did you know?

Sperm cells are so tiny that 400 to 500 million (400,000,000–500,000,000) of them fit onto 1 tsp.

Did you know?

Many supplement containers do not even contain what their labels say. There are many documented reports of products containing much less, or more, that what is listed on their labels. They may also contain undisclosed prescription drugs and even contaminants.

Did you know?

In most cases, kidneys can recover from almost complete loss of function, such as in acute kidney (renal) failure.

History of the number of observed sunspots during the last 250 years, which shows the ~11-year solar History of the number of observed sunspots during the last 250 years, which shows the ~11-year solar
Fetal Stage: 8 Weeks To Birth Fetal Stage: 8 Weeks To Birth
John Ahearn, Homage to the People of the South Bronx: Double Dutch at Kelly Street 1: Frieda, ... John Ahearn, Homage to the People of the South Bronx: Double Dutch at Kelly Street 1: Frieda, ...
Distribution of Thunderstorms: Approximately 14.5 million thunderstorms occur each year across the ... Distribution of Thunderstorms: Approximately 14.5 million thunderstorms occur each year across the ...
Charlie Stone wants to retire in 30 years, and he wants to have an annuity of $1000 a year for ... Charlie Stone wants to retire in 30 years, and he wants to have an annuity of $1000 a year for ...
You deposit $2000 each year into an account earning 4% interest compounded annually. How much ... You deposit $2000 each year into an account earning 4% interest compounded annually. How much ...
Video: Status Epilepticus

For a complete list of videos, visit our video library