Michael Mirer worked for Dawson Company for six months this year and earned $11,200. The other six months he earned $6,900 working for McBride Company (a separate company). The amount of FUTA taxes to be paid on Mirer's wages by the two companies is: a) Dawson Company __________. b) McBride Company __________. View keyboard shortcuts
Michael Mirer worked for Dawson Company for six months this year and earned $11,200. The other six months he earned $6,900 working for McBride Company (a separate company). The amount of FUTA taxes to be paid on Mirer's wages by the two companies is: a) Dawson Company __________. b) McBride Company __________. View keyboard shortcuts
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Instruction 5-1
Use the net FUTA tax rate of 0.6% on the first $7,000 of taxable wages.
Refer to Instruction 5-1. Michael Mirer worked for Dawson Company for six months this year and earned $11,200. The other six months he earned $6,900 working for McBride Company (a separate company). The amount of FUTA taxes to be paid on Mirer's wages by the two companies is:
a) | Dawson Company __________. |
b) | McBride Company __________. |
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