What is the total amount of payroll taxes

Assignment Help Accounting Basics
Reference no: EM133179320

Question - Sam's gross pay for the week is $3,900. His year - to - date pay is under the limit for OASDI. Assume that the rate for state unemployment tax is 5.4%, federal unemployment tax rate is 0.6%, and that Sam's year - to - date pay has previously exceeded the $7,000 cap. What is the total amount of payroll taxes that Sam's employer must record as payroll tax expense?

Reference no: EM133179320

Questions Cloud

Prepare the entries for martinez to record the purchase : Prepare the entries for Martinez to record the purchase and any additional entries related to this investment in Sandhill Company in 2020
Explain solid biological systems : Solid biological systems give essential labor and products to people and different organic entities. The Millennium Ecosystem Assessment from 2005 estimated 24
Confidentiality and privileged communication : Discuss the differences between confidentiality, privileged communication, and the right to privacy.
How should the transaction price : Winkerbean is obligated to pay Nash the $1,040,000 upon the delivery and installation of the equipment. How should the transaction price
What is the total amount of payroll taxes : Assume that the rate for state unemployment tax is 5.4%, federal unemployment tax rate is 0.6%, What is the total amount of payroll taxes
Changing to new online hr and payroll system : Your organization (Covid Community College) is changing to a new online HR/Payroll system that is offered by the firm HRatWork.
Unit 1 Civil Litigation Assignment : Unit 1 Civil Litigation Assignment Help and Solution, Level 7 Diploma In Paralegal Practice - Assessment Writing Service
What is the activity rate for maintaining equipment : Xander uses activity-based costing to calculate product cost. What is the activity rate for maintaining equipment based on maintenance hours
Change processes : Discuss a change you have been through as part of an organizational initiative. Explain the change process that was enacted.

Reviews

Write a Review

Accounting Basics Questions & Answers

  What are some of the methods for restricting access

Why should responsibilities for certain duties, like cash handling and cash recording, be separated? What specific responsibilities should be separated?

  Complete the corrected balance sheet below

Mike Paul is the bookkeeper for Benelli Company. Mike has been trying to get the balance sheet of Benelli Company to balance. It finally balanced, but now he's not sure it is correct.

  Find the direct labor variances for the month

The labor cost incurred was $159,786 and 13,450 direct labor-hours were worked. Find the direct labor variances for the month

  Was the commissioner incorrect when she disallowed

ACCT 358 2017 ASSIGNMENT. If there was a tax avoidance arrangement, was the Commissioner incorrect when she disallowed

  Amortization schedule for bonds

An amortization schedule for bonds issued at a premium: A. Summarizes the amortization of the premium, a contra-asset account with a credit balance. B. Is reported in the balance sheet.

  Equivalent units of production for conversion costs

The number of equivalent units of production for conversion costs for the period was

  Platinum corporation purchased machinery on january 1 2007

platinum corporation purchased machinery on january 1 2007 at acost of 160000. the machinery has an estimated useful

  Compute the total cost of the land for accounting purposes

Consider the following information relating to the purchase of land. Purchase price $95,000. Compute the total cost of the land for accounting purposes

  Calculate the amount owed to each partner

If the partners agreed on a $144 000 salary allowance for each partner and the remaining balance divided 3:2:1, calculate the amount owed to each partner

  Personal investment analysis for a service company

A Masters of Accountancy degree at Central University costs $12,000 for an additional fifth year of education beyond the bachelor's degree. Assume that all tuition is paid at the beginning of the year.

  Which cost do feel the US Car industry is most affected

"Car Making in America", which cost do you feel the U.S. Car industry (GM, Ford, etc.) is most affected by - accounting or economic cost?

  Calculate the gross income and adjusted gross income

Jim, age 50, and Martha, age 49, are married with three dependent children. Calculate the Gross income and Adjusted gross income

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