On January 31, AC Baking Company prepared its Employers Annual Federal Unemployment Tax Return, Form 940. During
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On January 31, AC Baking Company prepared its Employer’s Annual Federal Unemployment Tax Return, Form 940. During the previous year, the business paid total wages of $462,150 to its 14 employees. Of this amount, $98,000 was subject to FUTA tax. Using a rate of 0.6 percent, determine the FUTA tax owed and the balance due on January 31, 2020, when Form 940 was filed. A deposit of $300 was made during the year.
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College Accounting Chapters 1-30
ISBN: 978-1259631115
15th edition
Authors: John Price, M. David Haddock, Michael Farina
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