User Account

All Pages

What is jackjoe total expense of payroll taxes futa

Assignment Help Accounting Basics
Reference no: EM132705377

YanYu Zheng is employed by JackJoe, Inc.. During the month of January, YanYu earned her monthly salary of $100,000.YanYu is single, and had $20,000 of federal income tax withheld from her pay. YanYu works in a state without an income tax.YanYu's pay is subject to Social Security taxes at a 6.2% rate and Medicare at a 1.45% rate. The annual base for social security taxes is $140,000.JackJoe's payroll is subject to federal and state unemployment taxes at a rate of 6% on each employee's gross pay, up to $7,000 per year.

Problem (a) Complete YanYu's paycheck and the remittance advice (i.e., "paycheck stub").

Problem (b) Prepare journal entries for YanYu's pay and the related payroll expenses. (2 journal entries)

Problem (c) What is JackJoe's (employer cost) total expense of payroll taxes FUTA/SUTA and FICA for employing YanYu for the year?

Reference no: EM132705377

Questions Cloud

Explain how Frank will treat his oil filter inventory : Frank is eligible to treat inventory as non-incidental materials and elects to do so. Explain how Frank will treat his oil filter inventory
Evaluate how company has done to the industry averages : Evaluate how company has done to the industry averages. Do you notice any trends that are positive or negative? Does anything look good or bad that is notable?
Calculate Lawrence ending inventory : Lawrence owns a small candy store that sells one type of candy. Calculate Lawrence's ending inventory and cost of goods sold using the FIFO inventory valuation
Prepare journal entries to record the asset acquisition : Prepare journal entries to record the asset's acquisition, annual depreciation for each year, and the asset's eventual sale for $99,000 on Jan 1, X6
What is jackjoe total expense of payroll taxes futa : Complete YanYu's paycheck. What is JackJoe's (employer cost) total expense of payroll taxes FUTA/SUTA and FICA for employing YanYu for the year?
What is the net income Margaret should show : Transportation 5,725 miles, using standard mileage method. What is the net income Margaret should show on her Schedule C
AMIM700 International Marketing Assignment : AMIM700 International Marketing Assignment Help and Solution, Ara Institute of Canterbury Ltd - Assessment Writing Service - Critically evaluate global market
Prepare journal entries to record the asset acquisition : Prepare journal entries to record the asset's acquisition, annual depreciation for each year, and the asset's eventual sale for $99,000 on Jan 1, X6
Prepare the inventory analysis for january : Prepare the inventory analysis for January and write the adjusting journal entry for inventory. How much is gross profit for January?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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