Question: Refer to Exercise 7B 3 and assume that the state changed
Refer to Exercise 7B-3 and assume that the state changed Aim’s SUTA tax rate to 3.5%. What effect would this change have on the total payroll tax expense?
Answer to relevant QuestionsRefer to Exercise 7B-3. If D. Toll earned $3,000 for the week instead of $320, what effect would this change have on the total payroll tax expense?In Exercise7B-3.May Company has five salaried employees. Your task is to use the following information to calculate net pay for each employee:Assume the following:1. FICA OASDI is 6.2% on $106,800; FICA Medicare is 1.45% on all earnings.2. ...During the month of November the following transactions occurred.Assignment1. Record the following transactions in the general journal and post them to the general ledger.2. Prepare a trial balance as of November 30, ...Use the information from Exercise 8A-2 and the following information to prepare the general journal entry to record the payroll tax expense for the weekly payroll of September 9, 201X:Wages below the FUTA tax wage base limit ...From the following T-accounts, record the following: (a) The July 3 payment for FICA (OASDI and Medicare) and federal income taxes, (b) The July 30 payment of SUTA tax, (c) The July 30 deposit of any FUTA tax that may ...
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