Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Skateboards for All is a skateboard and scooter store in Freeport, Maine. They paid wages of $66,409 in 2019 of which $39,064 is in excess

Skateboards for All is a skateboard and scooter store in Freeport, Maine. They paid wages of $66,409 in 2019 of which $39,064 is in excess of the FUTA limit. They have SUTA wages of $28,712 on the first $12,000 and an experience rating of 3.2%.

Employer: Skateboards for All
Net FUTA tax

$

SUTA tax

Total unemployment tax

$

Lovin' Football is a football equipment store in St. Cloud, Minnesota. They paid wages of $77,776 in 2019 of which $48,610 is in excess of the FUTA limit. They have SUTA wages of $36,458 on the first $12,000 of wages and have an experience rating of 3.7%.

Employer: Lovin' Football
Net FUTA tax

$

SUTA tax

Total unemployment tax

$

Compute the total unemployment taxes for each company.

Note: Round all amounts to the nearest cent.


Step by Step Solution

3.40 Rating (156 Votes )

There are 3 Steps involved in it

Step: 1

Answers Employer Skateboards for All Net FUT... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

7th Edition

978-0470477151, 978-0-470-5562, 470556242, 0-470-55624-2, 9780470556245, 978-0470507018

More Books

Students also viewed these Accounting questions