
EBK PAYROLL ACCT.,2019 ED.
19th Edition
ISBN: 9781337673198
Author: BIEG
Publisher: Cengage Learning
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Question
Chapter 5, Problem 1SSQ
To determine
Calculate the Company G’s FUTA and SUTA tax for the year 2019.
Expert Solution & Answer

Explanation of Solution
Federal
So, FUTA would be reduced to 0.6% for those employers.
Calculate the Company G’s FUTA and SUTA tax for the year 2019.
Particulars | Amount in $ | Amount in $ |
Gross FUTA of 6.0% on $188,000 | 11,280 | |
Less: Credit the SUTA tax of 4.1% paid for $188,000 | 7,708 | |
Additional credit of 1.3% (1) to get 5.4% on $188,000 | 2,444 | |
Total credit | 10,152 | |
Net FUTA of 0.6% on $188,000. | 1,128 |
(Table 1)
Working Note1: Calculate the percentage of additional credit to be received for 5.4%.
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Accounting MCQ 1
Chapter 5 Solutions
EBK PAYROLL ACCT.,2019 ED.
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