« previous next »

Author Question: Kelly Interiors employed Jason Baker for 13 weeks during the first quarter of the year. His salary ... (Read 95 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?

Though methadone is often used to treat dependency on other opioids, the drug itself can be abused. Crushing or snorting methadone can achieve the opiate "rush" desired by addicts. Improper use such as these can lead to a dangerous dependency on methadone. This drug now accounts for nearly one-third of opioid-related deaths.

Did you know?

The Centers for Disease Control and Prevention has released reports detailing the deaths of infants (younger than 1 year of age) who died after being given cold and cough medications. This underscores the importance of educating parents that children younger than 2 years of age should never be given over-the-counter cold and cough medications without consulting their physicians.

Did you know?

In 2006, a generic antinausea drug named ondansetron was approved. It is used to stop nausea and vomiting associated with surgery, chemotherapy, and radiation therapy.

Did you know?

ACTH levels are normally highest in the early morning (between 6 and 8 A.M.) and lowest in the evening (between 6 and 11 P.M.). Therefore, a doctor who suspects abnormal levels looks for low ACTH in the morning and high ACTH in the evening.

Did you know?

Approximately one in four people diagnosed with diabetes will develop foot problems. Of these, about one-third will require lower extremity amputation.

The Black Death spread over much of Europe in a three-year period in the middle of the fourteenth ce The Black Death spread over much of Europe in a three-year period in the middle of the fourteenth ce
Elizabeth, a married 35-year-old woman, always thought that she followed a sensible diet Elizabeth, a married 35-year-old woman, always thought that she followed a sensible diet
Foods for Baby’s First Year Foods for Baby’s First Year
Nitin earns $48,000 per year. Determine his gross earnings for each pay period if he is paid ... Nitin earns $48,000 per year. Determine his gross earnings for each pay period if he is paid ...
Changing Dimensions of the Pregnant Uterus. Numbers Represent Weeks of Gestation Changing Dimensions of the Pregnant Uterus. Numbers Represent Weeks of Gestation
Video: Ventilation - phases and driving forces

For a complete list of videos, visit our video library