Calculate the employer's total FUTA and SUTA taxes. As TCLH Industries operates in North Carolina, assume a SUTA tax rate of 1.2% and a taxable earnings threshold of $29,600. Current period taxable earnings for FUTA and SUTA taxes are the same as those for FICA taxes. Year-to-date taxable earnings for FUTA and SUTA taxes, prior to the current pay period, are as follows: • Zachary Fox: $0 • Calvin Bell: $20,478.57 • David Alexander: $198,450 • Michael Sierra: $117,600 Payroll Register 1: Zachary Fox FUTA tax = $ SUTA tax = $ 2: Calvin Bell FUTA tax = $ SUTA tax = $ 3: David Alexander FUTA tax = $ SUTA tax = $ 4: Michael Sierra FUTA tax = $ SUTA tax = $

Calculate the employer's total FUTA and SUTA taxes. As TCLH Industries operates in North Carolina, assume a SUTA tax rate of 1.2% and a taxable earnings threshold of $29,600. Current period taxable earnings for FUTA and SUTA taxes are the same as those for FICA taxes. Year-to-date taxable earnings for FUTA and SUTA taxes, prior to the current pay period, are as follows: • Zachary Fox: $0 • Calvin Bell: $20,478.57 • David Alexander: $198,450 • Michael Sierra: $117,600 Payroll Register 1: Zachary Fox FUTA tax = $ SUTA tax = $ 2: Calvin Bell FUTA tax = $ SUTA tax = $ 3: David Alexander FUTA tax = $ SUTA tax = $ 4: Michael Sierra FUTA tax = $ SUTA tax = $

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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