Author Question: Smith Gym employed Garcia Young for 20 weeks during the first quarter of the year. Her salary was ... (Read 63 times)

genevieve1028 · **on:** Jun 24, 2018

Smith Gym employed Garcia Young for 20 weeks during the first quarter of the year. Her salary was 500 per week. Compute the FUTA and SUTA taxes Smith Gym must pay on Young's wages for the quarter, assuming that the state rate was 5.6?

Question 2

A 1,00 . bond, with interest at 8 on January 1 and July 1, was purchased on September 30 at 97 plus accrued interest. Compute the entire purchase cost of the bond. (Assume a 360-day year and a commission of 5 per bond.)

steff9894 · **Reply #1 on:** Jun 24, 2018

Answer to Question 1

448
500 per week 20 weeks = 10,00 . total wages
7,00 . maximum 0.00 . = 56 FUTA
7,00 . maximum 0.056 = 392 SUTA
56 + 392 = 448 total unemployment taxes

Answer to Question 2

996.49