Answered: What is EE Taxable Wages FUTA in quater…

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What is EE Taxable Wages FUTA in quater 3? Emloyee Q1 Q2 Q3 Q4 EE 3500 3500 3200 3200

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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Question

What is EE Taxable Wages FUTA in quater 3?

Emloyee	Q1	Q2	Q3	Q4
EE	3500	3500	3200	3200

I thought the answer was (7000 - ( 3200 - 500)) = 4300 and to find FUTA it would be 4300*.006 = 258.

Thats not it.

Then I thought maybe its 7000 - (2700 - 500) = 7000 - 2200 = 4800

But thats not it. Help!

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