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Solve the next problems The Banks Company's payroll for the year if $619,640. Of this amount, $452, 160 is for wages paid in excess of

Solve the next problems

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The Banks Company's payroll for the year if $619,640. Of this amount, $452, 160 is for wages paid in excess of $7,000 to each individual employee. The SUTA rate in the state in which the Banks Company is located is 2.9% on the first 7,000 of each employee's earnings. The FUTA tax also applied to the company. EA 1. The net FUTA tax .............. 2. The net SUTA tax .......... 3. The total unemployment taxes . . . . . . . ...PROBLEM 2 Sue Ellen Stein was paid a salary of $35,800 during 2019 by the Farrell Company. In addition, during the year Stein started her own business as a public accountant and reported a net business income of $28,000 on her income tax return for 2019. Determine: a. The amount of FICA taxes that was withheld from her earnings during 2019 by the Farrell Company ..... . . . . . . ... OASDI $ (social security) HI $ (medicare) b. Stein's self-employment taxes (OASDI and HI) on the income derived from her public accounting business for : 2019

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