Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Required information Skip to question [The following information applies to the questions displayed below.] Certain transactions and procedures relating to federal and state unemployment taxes
Required information Skip to question [The following information applies to the questions displayed below.] Certain transactions and procedures relating to federal and state unemployment taxes follow for Robins Nest LLC, a retail store owned by Robin Roberts. The firms address is 2007 Lovely Lane, Dallas, TX 75268-0967. The firms phone number is 972-456-1200.The employers federal and state identification numbers are 75-9462315 and 37-9462315, respectively. Carry out the procedures as instructed in each of the following steps. Name of Employee Total Earnings Suzi Roma $ 5,835 Jo Guyton 3,800 Gloria Bermudez 4,123 Anna Scott 5,295 Anita Thomas 4,025 Terri Wong 2,935 Total $ 26,013 Required: Compute the state unemployment insurance tax owed on the employees wages for the quarter ended March 31, 20X1. This information will be shown on the employers quarterly report to the state agency that collects SUTA tax. The employer has recorded the tax on each payroll date. Although the state charges a 5.4 percent unemployment tax rate, Robin's Nest LLCs rate is only 1.7 percent because of its experience rating. The employee earnings for the first quarter are shown above. All earnings are subject to SUTA tax. On April 30, 20X1, the firm issued a check to the state employment commission for the amount computed above. In general journal form, record the issuance of the check
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started