Which of the payroll taxes are paid by the employee

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Problem 1: A new machine with a purchase price of $94,000, transportation costs of $8,000, installation costs of $6,000, and sales tax of $2,000, would have a cost basis of

Option 1: $ 96,000

Option 2: $102,000

Option 3: $108,000

Option 4: $110,000

Problem 2: Which of the following payroll taxes are paid by the employee?

Option 1: SUTA taxes

Option 2: FUTA taxes

Option 3: Federal withholding

Option 4: all of the above

Problem 3: Which of the following should not be included in the initial cost of a piece of equipment?

Option 1: installation costs

Option 2: Repairs to the machine for damage incurred during delivery

Option 3: freight costs

Option 4: testing costs before putting the equipment into use

Problem 4: Which of the following is included in the cost of land?

Option 1: past due real estate taxes paid by the buyer

Option 2: fences on the land

Option 3: outdoor lighting for a parking lot

Option 4: cost of paving a parking lot2.5 points

Reference no: EM132704316

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