Mi Casa Restaurants of Las Cruces, New Mexico, has the following employees as of December 31: Annual Taxable Wages $36,300 $19,900 Employee Name Arianna Shelby Mark Gomez Cedric Wardly Eric Burgess Shionna Black Required: The company's SUTA tax rate is 4.25 percent and the wage base is $11,800. Mi Casa Restaurants FUTA tax rate of 6 percent is subject to a 5.4 percent reduction and applies to the first $7,000 of employee wages. What is the annual amount of FUTA and SUTA taxes due for each employee? (Round your answers for "SUTA Due" to 2 decimal places.) Employee Arianna Shelby Mark Gomez Cedric Wardly Eric Burgess Shionna Black $26,500 $33,880 $32,400 FUTA Due SUTA Due

Mi Casa Restaurants of Las Cruces, New Mexico, has the following employees as of December 31: Annual Taxable Wages $36,300 $19,900 Employee Name Arianna Shelby Mark Gomez Cedric Wardly Eric Burgess Shionna Black Required: The company's SUTA tax rate is 4.25 percent and the wage base is $11,800. Mi Casa Restaurants FUTA tax rate of 6 percent is subject to a 5.4 percent reduction and applies to the first $7,000 of employee wages. What is the annual amount of FUTA and SUTA taxes due for each employee? (Round your answers for "SUTA Due" to 2 decimal places.) Employee Arianna Shelby Mark Gomez Cedric Wardly Eric Burgess Shionna Black $26,500 $33,880 $32,400 FUTA Due SUTA Due

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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