At the end of the first quarter of 201X, you are asked to determine the FUTA tax

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At the end of the first quarter of 201X, you are asked to determine the FUTA tax liability for Old Company. The FUTA tax rate is 0.6% on the first $7,000 each employee earns during the year (assuming 13 weeks for the first quarter and each employee earned the same gross weekly pay for all 13 weeks).

Employee

Gross Pay Per Week

Y.Connor

$750

C.Hart

740

J.Mathison

600

Y.Ralph

390

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Related Book For  answer-question

College Accounting A Practical Approach

ISBN: 9780134729312

14th Edition

Authors: Jeffrey Slater, Mike Deschamps

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