Question

Morris Leste, owner of Carlson Company, has three employees who earn $400, $500, and $700 per...


Morris Leste, owner of Carlson Company, has three employees who earn $400, $500, and $700 per week. What are the total state and federal unemployment taxes that Morris owes for the first 11 weeks of the year and for week 30? Assume a state rate of 5.6% and a federal rate of 0.8%. (Leave no cells blank - be certain to enter "0" wherever required. Round your answers to the nearest cent.)

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Hi

Let me know in case you face any issue:

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Metro Express has 5 sales employees, whom earn a total of $25,000 per month and is...
Metro Express has 5 sales employees, whom earn a total of $25,000 per month and is paid on the last working day of the month. Each employee’s wages are subject to FICA Social Security taxes of 6.2% and Medicare taxes of 1.45% on all wages. Withholding for each employee also includes federal income tax of 16% and monthly medical insurance premiums of $700 for the employees. The employer payroll taxes for Metro Express include FICA taxes, federal unemployment taxes of...
Metro Express has 5 sales employees, whom earn a total of $25,000 per month and is...
Metro Express has 5 sales employees, whom earn a total of $25,000 per month and is paid on the last working day of the month. Each employee’s wages are subject to FICA Social Security taxes of 6.2% and Medicare taxes of 1.45% on all wages. Withholding for each employee also includes federal income tax of 16% and monthly medical insurance premiums of $700 for the employees. The employer payroll taxes for Metro Express include FICA taxes, federal unemployment taxes of...
chp9 9-8 Pat Maninen earns a gross salary of $2,400 each week. Assume a rate of...
chp9 9-8 Pat Maninen earns a gross salary of $2,400 each week. Assume a rate of 6.2% on $118,500 for Social Security and 1.45% for Medicare. a. What are Pat’s first week’s deductions for Social Security and Medicare? (Round your answers to the nearest cent.) Deductions Social Security $ Medicare $ b. Will any of Pat’s wages be exempt from Social Security and Medicare for the calendar year? (Leave no cells blank - be certain to enter "0" wherever required.)...
Kip Bowman is owner and sole employee of KB Corporation. He pays himself a salary of...
Kip Bowman is owner and sole employee of KB Corporation. He pays himself a salary of $1,650 each week. Additional tax information includes:   FICA tax—OASDI 6.2% on first $127,200   FICA tax—HI 1.45% on total pay   Federal income tax $247.50 per pay   State income tax 22% of the federal income tax withholding   Federal unemployment tax 0.6% on first $7,000   State unemployment tax 0.05% on first $14,000 Additional payroll deductions include:   401(k) plan 3% per pay   Child support garnishment $120 per pay...
Carmen Santos is owner and sole employee of CS Corporation. He pays himself a salary of...
Carmen Santos is owner and sole employee of CS Corporation. He pays himself a salary of $2,400 this week. Additional tax information includes: FICA tax—OASDI 6.2% on first $127,200 FICA tax—HI 1.45% on total pay Federal income tax $532.00 per pay State income tax 22% of the federal income tax withholding Federal unemployment tax 0.6% on first $7,000 State unemployment tax 0.05% on first $14,000 Additional payroll deductions include: 401(k) plan 3% per pay Child support garnishment $125 per pay...
Kip Bowman is owner and sole employee of KB Corporation. He pays himself a salary of...
Kip Bowman is owner and sole employee of KB Corporation. He pays himself a salary of $1,550 each week. Additional tax information includes:   FICA tax—OASDI 6.2% on first $132,900   FICA tax—HI 1.45% on total pay   Federal income tax $232.50 per pay   State income tax 22% of the federal income tax withholding   Federal unemployment tax 0.6% on first $7,000   State unemployment tax 0.05% on first $14,000 Additional payroll deductions include:   401(k) plan 3% per pay   Child support garnishment $115 per pay...
Answer the following questions: 41.- Kathryn Holmes cumulative earnings are $45,000 and her gross pay for...
Answer the following questions: 41.- Kathryn Holmes cumulative earnings are $45,000 and her gross pay for the week is $500 if the FICA rates are Social Security 6.2% on a limit Security and FICA-Medicare taxes for the week? a) $31.00 $7.25 b) $310.00 $72.50 c) $3.10 $0.73 d) $25.50   $8.00 42.- The balance in the Salaries and Wages Payable account is equal to net pay True False 43.- The Federal Unemployment Tax is a) paid by the employer b) paid...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT