What would be the net amount of FUTA Tax due

Assignment Help Accounting Basics
Reference no: EM132848294

Question - Assume that LMNOP, Inc. had a total annual FUTA Tax due of $5500.00, and a SUTA tax due of $ 4400. $3000 of the total SUTA tax obligation was paid late. What would be the net amount of FUTA Tax due?

a. $1,100

b. $5,500

c. $2,800

d. $2,500

Reference no: EM132848294

Questions Cloud

Prepare the appropriate entries for North American : Prepare the appropriate entries for North American (a) on January 1, 2021, to record transaction and (b) on December 31, 2021, to record necessary adjustments
What are the prices of a call option : Black-Scholes - What are the prices of a call option and a put option with the following characteristics - Exercise price = $90
Estimate the cost of ending inventory at May : Midlife Corp. is in the process of preparing its financial statements as at May 31, 2019. Estimate the cost of ending inventory at May 31
Which option would you recommend to the board and why : First there is a comparable site in the same general area with and appraised value of $3.9 million. Which option would you recommend to the board and why
What would be the net amount of FUTA Tax due : Assume that LMNOP, Inc. had a total annual FUTA Tax due of $5500.00, and a SUTA tax due of $ 4400. What would be the net amount of FUTA Tax due
What is the primary reason for the difference in net income : What is the primary reason for the difference in Net income between producing 500 shields and producing 1,000 shields, holding constant sales at 500 shields
Determine the present value as of June : On June 30, 2021, Georgia-Atlantic, Inc. leased warehouse equipment from Builders, Inc. Determine the present value as of June 30th 2021
Finding the probability of smokers : If a man and a women are selected at random then what is the probability at least one smokes. Round your answer to four decimal places.
Interpret a two-sided confidence interval : Provide and interpret a two-sided 99% confidence interval for the true proportion of accounting majors.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Make the journal entry necessary to record depreciation

McElroy Company purchased a building, Prepare the journal entry(ies) necessary to record the depreciation expense on the building in 2015.

  Prepare sales budget portions of operating master budget

Acct 3351 The Master Budget Problem. Prepare the following portions of the operating master budget, by month, for the first quarter of 2005: Sales Budget

  How much total equity will Lamar report

On 12/30/X1, Lamar purchased 10% of its outstanding stock for $16,000. How much total equity will Lamar report on 12/31/X1

  Record the necessary revenue related journal entries

Westinghouse Appliances was holding a fall sale on its refrigerators. George and Lisa visited the store eager to find a new fridge to replace the one at home.

  Its balance sheet shows 50 million of short-term

based on the corporate valuation model bernile inc.s value of operations is 750 million. its balance sheet shows 50

  Compute the diluted earnings per share for 2010 round to

1. basic and diluted eps. assume that the following data relative to kane company for 2010 is available net income

  Calculate the ROE for the firm

Accounts receivable are $2.50 million, ACP is 25 days, net income is $2.70 million, and debt-to-equity is 1.20 times. Calculate the ROE for the firm

  Identify the relevant costs and revenues for the

homeowners heroes inc. manufactures household products such as win-dows light fixtures ladders and work tables. during

  Role of an auditor at a local firm

Write a letter to Apollo Shoes addressing the key points listed below; assume the role of an auditor at a local firm when composing the letter.

  Comments on ethics and religions with the thesis statement

General comments on ethics and religions with the thesis statement. After reading and reflecting upon Genesis 22 and Abraham as Prometheus, contrasts.

  Alpha company uses the periodic inventory system

Alpha Company uses the periodic inventory system and had the following inventory & sales activity for the month of May 2016

  Indicate why a liability should or should not be recognized

Assuming Champion Incorporated follows IFRS, indicate (yes or no) whether the company should recognize a liability in its financial statements.

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