At the end of the first quarter of 201X, you are asked to determine the FUTA tax

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At the end of the first quarter of 201X, you are asked to determine the FUTA tax liability for Franklin Company. The FUTA tax rate is 0.6% on the first $7,000 each employee earns during the year (assuming 13 weeks for the first quarter and each employee earned the same gross weekly pay for all 13 weeks).

Employee

Gross Pay Per Week

P.Franklin

$740

0.Hienze

840

Q.Roberts

620

R.Waters

390

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College Accounting A Practical Approach

ISBN: 9780134729312

14th Edition

Authors: Jeffrey Slater, Mike Deschamps

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