Determine the unemployment taxes

Assignment Help Financial Accounting
Reference no: EM131294929

During 2016, Jeff Smallwood worked for two different employers. Until May, he worked for Rowland Construction Company in Ames, Iowa, and earned $22,000. The state unemployment rate for Rowland is 4.6%. He then changed jobs and worked for Ford Improvement Company in Topeka, Kansas, and earned $29,500 for the rest of the year. The state unemployment rate for Ford is 5.1%. Determine the unemployment taxes (FUTA and SUTA) that would be paid by each company.

Reference no: EM131294929

Questions Cloud

Uncollectible accounts-write off actual bad debts : Nenn Co.'s allowance for uncollectible accounts was $190,000 at the end of 2012 and $180,000 at the end of 2011. For the year ended December 31, 2012, Nenn reported bad debt expense of $26,000 in its income statement. What amount did Nenn debit to th..
Uses periodic inventory system-calculate chens net sales : Chen’s Department Store is a merchandising company that uses the periodic inventory system. Calculate Chen’s net sales. Refer to the account information for Chen’s Department Store Calculate Chen’s cost of goods purchased. Refer to the data for Music..
Situations reflects a weak internal control system : Which one of the following situations reflects a weak internal control system? Effective cash management and control includes all of the following except. The inventory account a manufacturer uses to record the cost of products completed and availabl..
Write a journal entry : You purchased a new car that costs 10,000. You signed a six month 20% installment note payable for the cost of the car. The car has an estimated useful life of 3 years the residual salvage value is 200. Write a journal entry.
Determine the unemployment taxes : During 2016, Jeff Smallwood worked for two different employers. Until May, he worked for Rowland Construction Company in Ames, Iowa, and earned $22,000. The state unemployment rate for Rowland is 4.6%. He then changed jobs and worked for Ford Improve..
Compute the unit product cost for year one : Haas Company manufactures and sells one product. The following information pertains to each of the company's first three years of operations: Variable costs per unit: Manufacturing:  Compute the unit product cost for year 1, year 2, and year 3. . Pre..
What was the change in shareholders equity : Calculate the net income earned during the year. Assume that the change to shareholders’ equity results only from net income earned during the year. If total assets increased $25,000 and total liabilities decreased $7,000, what was the change in shar..
Prepare variable costing contribution format income : During Heaton Company's first two years of operations, the company reported absorption costing net operating income as follows: Year 1 Year 2 Sales (@ $25 per unit) Prepare a variable costing contribution format income statement for each year. Reconc..
Prepare a worksheet to consolidate these two companies : The Holtz Corporation acquired 80 percent of the 100,000 outstanding voting shares of Devine, Inc., for $7.70 per share on January 1, 2014. The remaining 20 percent of Devine’s shares also traded actively at $7.70 per share before and after Holtz’s a..

Reviews

Write a Review

Financial Accounting Questions & Answers

  Baker company estimates annual overhead costs

Baker Company estimates annual overhead costs to be $1,050,000 and that 200,000 machine hours will be operated. Using machine hours as a base,

  What amount of this debt should be eliminated

Raxston currently owes Kordel $500,000 for inventory acquired over the past few months. In preparing consolidated financial statements, what amount of this debt should be eliminated?

  What amount of cliffs encumbrances were outstanding at june

The remaining goods of $500,000 were not received until after year-end. Cliff paid $4,200,000 of the invoices received during the year - What amount of Cliffs encumbrances were outstanding at June 30, 2011?

  Depreciation on piece of factory equipment

During fiscal year 2012, Virchow Inc. recorded $10,000 of depreciation on a piece of factory equipment used to manufacture cricket bats. Which of the following items would be increased by this depreciation entry?

  Long-term note payable

The city purchased new computer equipment costing $19,000 by paying $3,000 in cash and signing a long-term note payable for $16,000.

  Specialized banking application software program

Firenze Company developed a specialized banking application software program that it licenses to various financial institutions through multiple-year agreements. On January 1, 2014, these licensing agreements have a fair value of $985,000 and represe..

  Disclosure of its nonrecurring revenue

Consult Paragraph 67 of PCAOB Auditing Standard No. 12. Do you believe that Qwest had established an effective system of internal control over financial reporting related to the presentation and disclosure of its nonrecurring revenue? Why or why not?

  Identify control environment factors that affect company

You expanded your tests in view of the situationsand are satisfied that the perpertual records reasonably reflect the quantities on hand. Identify control environment factors that affect the company's internal control.

  Determine the total cost per unit

Determine the total cost per unit for each product using traditional job-order costing and determine the total cost per unit for each product using activity based costing

  Mark each item in the following list with a letter

The Coca-Cola Company is one of the world's leading manufacturers, marketers, and distributors of nonalcoholic beverage concentrates and syrups, producing more than 500 beverage brands. Mark each item in the following list with a letter to indicate w..

  Prepare the adjusting entries

The trial balances shown on page 208 are before and after adjustment for Amit Company at the end of its fiscal year - Prepare the adjusting entries

  Revaluation adjustments on acquisition

Revaluation adjustments on acquisition are to be made on consolidation only, not in the books of  any subsidiary and non-controlling interests are measured at the proportionate share of a subsidiary's identifiable net assets

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd