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xeze [42]
3 years ago
14

Use the net FUTA tax rate of 0.6% on the first $7,000 of taxable wages. Niemann Company has a SUTA tax rate of 7.1%. The taxable

payroll for the year for FUTA and SUTA is $82,600. Round your answers to two decimal places a. The amount of FUTA tax for the year is $ . b. The amount of SUTA tax for the year is $
Business
1 answer:
maw [93]3 years ago
3 0

Answer: A. $42.00 , B. $5864.60

Explanation:

The amount of FUTA tax for the year is given as,

0.6% of $7000 = $42.00

2. The amount of SUTA tax for the year at 7.1% is

7.1% of $82600 = $5864.60

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The following information is taken from the operating section of the statement of cash flows (direct method) of Battery Builders
ollegr [7]

Answer:

See below

Explanation:

1. Complete accrual basis income statement

Sales

($28,000 + $3,000)

$31,000

Less cost of goods sold

($13,000 + $2,000 - $3,000)

-$12,000

Operating expenses

($9,000 - $2,000)

-$7,000

Depreciation expenses

-$4,000

Income tax

($4,000 + $1,000)

-$5,000

Amortization expense

-$1,000

Gain on sale of equipment

$2,000

Net income

$4,000

2. Cash flow statement (Indirect)

Net income

$4,000

Adjustments;

Add depreciation

$4,000

Add write off intangibles

$1,000

Less gain on sale of equipment

-$2,000

Less increase in accounts receivables

-$3,000

Less increase in inventory

-$3,000

Add increase in accounts payable

$2,000

Less decrease in accrued payable

-$2,000

Add increase in deferred income tax payable

$1,000

Net cash from operations $2,000

7 0
2 years ago
The area of a patio is 5 5/8 square yards and its length is 1 1/2 yards. What is the patios width in yards?
Angelina_Jolie [31]
The formula to find the area of a rectangle is
Area=length*width
( area equals length times width)

So you substitute the values in the problem into the equation above.
5 5/8=1 1/2* w

Then you can solve the equation by dividing the 5 5/8 by the 1 1/2, cancelling out 1 1/2 and leaving the w by itself on one half of the equal sign
You are left with
3 3/4 = w

The width of the patio in yards is 3 3/4.
(Just ask if you have more questions or I didn't explain something clearly)
8 0
2 years ago
Read 2 more answers
Suppose the Federal Reserve engages in open-market operations. It sells $20 billion in U.S. securities. It also raises the reser
klio [65]

Answer: The correct answer is "a. decrease; decrease; decrease".

Explanation: Suppose the Federal Reserve engages in open-market operations. It sells $20 billion in U.S. securities. It also raises the reserve ratio. This causes excess reserves to <u>decrease</u>, the money supply to <u>decrease</u>, and the money multiplier to <u>decrease</u>.

8 0
3 years ago
China produces many products at the lowest cost possible, even though Chinese consumers do not desire many of these products (e.
Setler79 [48]

Answer:

Production efficiency.

Explanation:

It's production is efficient because produces products at a lower cost that the competition.

It's not allocative efficiency, because when this happens, production represents costumers preferences.

3 0
3 years ago
In a macroeconomic context, choose the best definition for the term "velocity".
ddd [48]

Answer:

The rate at which money circulates through an economy.

The velocity in the  Mushroom Kingdom  , is 6.3213

Explanation:

The equilibrium quantity in the money market is determinated as the product between the money stock (the gold coins in this case)and the money velocity

GDP = demand of money ( as we need money to purchase the goods and services)

money stock =   13,719

velocity = demand / money stock

86,722/13,719 = 6.3213

4 0
3 years ago
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