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Mester Company has 9 employees. Fica Social Security taxes are 6.2% of the first $110,100 paid to each employee, and FICA Medicare taxes are 1.45% of gross pay. FUTA taxes are 0.8% and SUTA taxes are 5.4% of the first $7,000 paid to each emploee. Cumulative pay for the current year for each of its employees follows.Steve S. $6,000Tim V. $60,000Brent G. $87,000Christina S. $156,600Kathleen K. $106,900Michelle H. $110,100Lori K. $116,600Matt B. $36,800Sankha B. $4,0001. Prepare a table with the following column headings: Employee, Cumulative Pay, Pay subject to FICA Social Security Taxes, Pay subject to FICA Medicare Taxes, Pay subject to FUTA taxes, Pay subject to SUTA taxes. Compute the amounts in this table for each employee and total the columns. (Please show all work done to get each number)2. For the company, compute each total for FICA social security taxes, FICA medicare taxes, FUTA taxes, and SUTA taxes. (remember to inclue in those totals any employee share of taxes that the company must collect)
Bill obtained a new job in boston. He incurred the following moving expenses transportation of household goods and personal effects 2600. assuming bill is entitled to deduct moving expenses, what is the amount of the deduction
What are some auditing risks that are associated with a company building a new power plant? How would the new power plant impact the audit?
question bos gym is a total fitness center. owner bo sanderson employs different fitness trainers who are expected to
A company had inventory of 8 units at a cost of $12 each on December 1. On December 2, they purchased 8 units at $21 each. On December 6 they purchased 7 units at $23 each. On December 8, they sold 18 units for $52 each. Using the LIFO perpetual i..
How much is recognized profit? How much is each partner's basis in the partnership? What is the partnership's basis in the assets contributed?
square footage requirements and effective utilization.your firm is preparing to open a new retail strip mall and you
Required to redraft the Trial Balance correctly and prepare a Trading and Profit and Loss Account and a Balance Sheet after taking into account the adjustments
Garth purchased merchandise inventory costing $24,000 with credit terms of 2/10, net 30. Eight days after the purchase, Garth paid one-half of the outstanding obligation. The remaining amount was paid 30 days after the date of purchase.
Determine the net present value of the investment in the machine. (Negative amount should be indicated by a minus sign. Round discount factor(s) to 3 decimal places, intermediate and final answers to the nearest dollar amount.
If the Distillation Department’s ending inventory on December 31 is comprised of 10,000 equivalent units of direct materials and 2,000 equivalent units of conversion, how many units were started and completed by the department during December?
chi corporation trades an asset by a book value of 20000 for another asset with a fair market value of 15000. the
you have just been promoted to the position of customer service manager of passport music designs inc. a manufacturer
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