Peroni company paid wages

Assignment Help Financial Accounting

Reference no: EM13943774

Peroni Company paid wages of $170,900 this year. Of this amount, $114,000 was taxable for net FUTA and SUTA purposes. The state's contribution tax rate is 3.1% for Peroni Company. Due to cash flow problems, the company did not make any SUTA payments until after the Form 940 filing date. Compute the following; round your answers to the nearest cent.

a. Amount of credit the company would receive against the FUTA tax for its SUTA contributions$

b. Amount that Peroni Company would pay to the federal government for its FUTA tax$

c. Amount that the company lost because of its late payments$

Reference no: EM13943774

Questions Cloud

Aerotron electronics has just bought a used delivery : Aerotron Electronics has just bought a used delivery truck for $15,000. The small business paid $1,000 down and financed the rest, with the agreement to pay nothing for the entire first year and then to pay $586.83 at the end of each month over years..

What is the current price per share if the required return : Whistle Stop Trains pays a constant $16 dividend on its stock. The company will maintain this dividend for the next 14 years and will then cease paying dividends forever. What is the current price per share if the required return on this stock is 15 ..

New machine which will reduce manufacturing costs : Stanton Inc. is considering the purchase of a new machine which will reduce manufacturing costs by $5,000 annually and increase sales by $6,000 annually. Stanton will use the MACRS method to depreciate the machine, and it expects to sell the machine ..

Four-year project to improve production efficiency : Warmack Machine Shop is considering a four-year project to improve its production efficiency. Buying a new machine press for $440,000 is estimated to result in $175,000 in annual pretax cost savings. Calculate the NPV of this project.

Peroni company paid wages : Peroni Company paid wages of $170,900 this year. Of this amount, $114,000 was taxable for net FUTA and SUTA purposes. The state's contribution tax rate is 3.1% for Peroni Company.

What is the systemic risk for this stock : If we have Stock A with required rate of return each to 15%, risk free rate of reture is 3%, the expected return for the market portfolio is 7%. what is the systemic risk for this stock. does this stock have higher or lower risk than the market. what..

Write a concise summary about physical tamper-resistant : Write a concise summary (ideally one to two pages) of what you have learned about physical tamper-resistant devices.

Produces a flue gas which analyses : A hydrocarbon liquid fuel (containing only C and H2) is burnt in air which produces a flue gas which analyses ( orsat analysis ) on dry basis as CO2 =10.5% , O2 = 5% and N2 =84.5%.

Describe various types of data resources and data processing : Identify and briefly describe 3-4 various types of data resources, data processing, and/or storage systems used in today's business environments that you think are most relevant and important. Explain your rationale

User Account

All Pages