With the following data, compute the Total FUTA Taxable Wages. Total Annual Wages $187,000Wages Paid in excess of $7000 limit$ 98,500

FUTA means the "Federal Unemployment Tax Act" which provides for the levy of tax on the wages…

Answered: With the following data, compute the…

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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Total Annual Wages	$187,000
Wages Paid in excess of $7000 limit	$ 98,500

With the following data, compute the Total FUTA Taxable Wages. Total Annual Wages $187,000 Wages Paid in excess of $7000 limit $ 98,500