The partnership of Keenan and Kludlow paid the following wages during this year:M. Keenan (partner)S. Kludlow (partner)N. Perry (supervisor)T. Lee (factory worker)R. Rolf (factory worker)D. Broch (factory worker)S. Ruiz (bookkeeper)C. Rudolph (maintenance)>In addition, the partnership owed $200 to Rudolph for work he performed during December. However, payment for this work will not be made until January of the following year. The stateunemployment tax rate for the company is 2.95% on the first $9,000 of each employee's earnings. Compute the following:Round your answers to the nearest cent.a. Net FUTA tax for the partnership for this year$235.8 Xb. SUTA tax for this yearS1,413 X$85,00075,00053,00034,60029,8006,90025,4005,100Feedback4

a) Net FUTA Tax(7000 + 7000 + 7000 + 6900 + 7000 + 5100) * 0.6% = If Tax Rate is 0.6% = $240If Tax…

Answered: -Net FUTA tax for the partr 235.8 X .…

Business

Accounting

-Net FUTA tax for the partr 235.8 X . SUTA tax for this year 1,413 X

SWFT Essntl Tax Individ/Bus Entities 2020

23rd Edition

ISBN:9780357391266

Author:Nellen

Publisher:Nellen

Chapter14: Partnerships And Limited Liability Entities

Section: Chapter Questions

Problem 24P

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