Acellus Academy Federal Unemployment Tax Act Exercise

Description

I am prepping for my final and out of the 100 question study guide these are the questions I could not seem to work out or recall. I am wanting each question worked out with answer and step by step instructions and final answer including if it in some cases may be rounded to the nearest tenth or hundreth

5 attachmentsSlide 1 of 5attachment_1attachment_1attachment_2attachment_2attachment_3attachment_3attachment_4attachment_4attachment_5attachment_5

Unformatted Attachment Preview

nal Review
Det
The Federal Unemployment Tax Act (FUTA) specifies that
an employer pay 6% unemployment tax on the first
$7000 of earned income per employee. If the employer
pays into a state unemployment insurance program,
they will receive a 5.4% credit. The after-credit FUTA tax
rate is therefore 0.6%.
If a business has 25 employees, who each earn more than
$7000 per year in wages, what is the business’s yearly
FUTA tax payment?
FUTA tax payment = $ [?]
Round to the nearest hundredth
Enter
क w
1 Acellus Corporation. All Rights Reserved.
O
EI
PER
nal Review
Det
The Federal Unemployment Tax Act (FUTA) specifies that
an employer pay 6% unemployment tax on the first
$7000 of earned income per employee. If the employer
pays into a state unemployment insurance program,
they will receive a 5.4% credit. The after-credit FUTA tax
rate is therefore 0.6%.
If a business has 25 employees, who each earn more than
$7000 per year in wages, what is the business’s yearly
FUTA tax payment?
FUTA tax payment = $ [?]
Round to the nearest hundredth
Enter
क w
1 Acellus Corporation. All Rights Reserved.
O
EI
PER
nal Review
第一
(in $000)
Begin.
Inv.
Purchases COGS
Calculate the
inventory
depreciation
expense for June
using a 15%
depreciation rate.
60
June
50
20
30
July
40
30
20
August
40
60
B. $19,500
A. $4,500
D. $3,000
C. $6,500
N
21 Acellus Corporation. All Rights Reserved.
a
O
Final Review
Status
Review
Calculate the net income after corporate income
tax is paid for Quarter 2 from the following income
statement. Use a corporate income tax rate of 21%.
01 (x1000) 22(x1000)
Net Sales 115
175
COGS (33)
(35)
Gross Profit 82
140
Overhead
(32)
(51)
Pre-tax income 50
89
Net Income = SIDI
y youtube
130
Final Review
Status
ceview
Using the MACRS rates from the following table,
what is the book value of a $2,500 computer after 4
years?
Yes MACRS Rate
1
200%
2 320%
3 192%
4
5 1152
book value=[21
Home

Purchase answer to see full
attachment

Tags:
insurance program

Federal Unemployment Tax Act

income per employee

FUTA tax payment

FUTA Tax rate

User generated content is uploaded by users for the purposes of learning and should be used following Studypool’s honor code & terms of service.