Chapter 13, Problem 12BE

Petron Pet Supplies sells on terms of 3/10, net 60. What is the effective annual cost of trade credit under these terms? Use a 365-day year.

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:  Determine the FUTA AND SUTA of each person. Zachary Fox: $0 Calvin Bell: $20,478.57 David Alexander: $198,450 Michael Sierra: $117,600

Answer?  General accounting question