PAYROLL ACCT.,2019 ED.(LL)-TEXT
19th Edition
ISBN: 9781337619783
Author: BIEG
Publisher: CENGAGE L
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Question
Chapter 5, Problem 12PA
a.
To determine
Determine Company H’s reserve ratio for 2018.
b.
To determine
Determine Company H’s contribution rate for 2019.
c.
To determine
Identify the smallest contribution Company H should make in order to reduce tax rate.
d.
To determine
Compute the tax savings realized by the company.
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The following unemployment tax rate schedule is in effect for the calendar year 2021 in State A, which uses the reserve-ratio formula in determining employer contributions:
Reserve Ratio
Contribution Rate
0.0% or more, but less than 1.0%
6.7%
1.0% or more, but less than 1.2%
6.4%
1.2% or more, but less than 1.4%
6.1%
1.4% or more, but less than 1.6%
5.8%
1.6% or more, but less than 1.8%
5.5%
1.8% or more, but less than 2.0%
5.2%
2.0% or more, but less than 2.2%
4.9%
2.2% or more, but less than 2.4%
4.6%
2.4% or more, but less than 2.6%
4.3%
2.6% or more, but less than 2.8%
4.0%
2.8% or more, but less than 3.0%
3.7%
3.0% or more, but less than 3.2%
3.4%
3.2% or more
3.1%
Hyram Company, which is located in State A, had an average annual payroll of $860,000 for the three 12-month periods ending on June 30, 2020 (the computation date for the tax year 2021). As of June 30, 2020, the total contributions that had been made to Hyram Company's reserve account,…
The following unemployment tax rate schedule is in effect for the calendar year 2019 in State A, which uses thereserve-ratio formula in determining employer contributions:Reserve Ratio Contribution Rate0.0% or more, but less than 1.0% ............................ 6.7%1.0% or more, but less than 1.2% ............................ 6.4%1.2% or more, but less than 1.4% ............................ 6.1%1.4% or more, but less than 1.6% ............................ 5.8%1.6% or more, but less than 1.8% ............................ 5.5%1.8% or more, but less than 2.0% ............................ 5.2%2.0% or more, but less than 2.2% ........................... 4.9%2.2% or more, but less than 2.4% ........................... 4.6%2.4% or more, but less than 2.6% ........................... 4.3%2.6% or more, but less than 2.8% ........................... 4.0%2.8% or more, but less than 3.0% ............................ 3.7%3.0% or more, but less than 3.2% ............................ 3.4%3.2% or…
The information listed below refers to the employees of Lemonica Company for the year ended December 31, 2019.The wages are separated into the quarters in which they were paid to the individual employees.
For 2019, State D’s contribution rate for Lemonica Company, based on the experience-rating system of the state,was 2.8% of the first $7,000 of each employee’s earnings. The state tax returns are due one month after the end ofeach calendar quarter. During 2019, the company paid $2,214.80 of contributions to State D’s unemployment fund.Employer’s phone number: (613) 555-0029. Employer’s State D reporting number: 00596.Using the forms supplied on pages 5-44 to 5-46, complete the following for 2019:a. Date and amount of the FUTA tax payment for the fourth quarter of 2019 (State D is not a creditreduction state).Tax Payment:Date Amount $b. Employer’s Report for Unemployment Compensation, State D—4th quarter only. Item 1 is the number ofemployees employed in the pay period that includes the…
Chapter 5 Solutions
PAYROLL ACCT.,2019 ED.(LL)-TEXT
Ch. 5 - Prob. 1SSQCh. 5 - Prob. 2SSQCh. 5 - Prob. 3SSQCh. 5 - _____ 1. Reciprocal arrangements A. Extra state...Ch. 5 - What two alternative tests are applied to a...Ch. 5 - What condition would make a household employer a...Ch. 5 - Prob. 3QRCh. 5 - Prob. 4QRCh. 5 - Prob. 5QRCh. 5 - Prob. 6QR
Ch. 5 - Prob. 7QRCh. 5 - An employer, because of a favorable experience...Ch. 5 - Prob. 9QRCh. 5 - Prob. 10QRCh. 5 - Prob. 11QRCh. 5 - Prob. 12QRCh. 5 - Prob. 13QRCh. 5 - Prob. 14QRCh. 5 - Prob. 15QRCh. 5 - Prob. 16QRCh. 5 - Prob. 17QRCh. 5 - Prob. 18QRCh. 5 - Prob. 19QRCh. 5 - Prob. 20QRCh. 5 - Can the owner of a small business receive...Ch. 5 - Prob. 2QDCh. 5 - Prob. 4QDCh. 5 - Prob. 1PACh. 5 - Peyton Companys payroll for the year is 737,910....Ch. 5 - Prob. 3PACh. 5 - Prob. 4PACh. 5 - Prob. 5PACh. 5 - Prob. 6PACh. 5 - Prob. 7PACh. 5 - Prob. 8PACh. 5 - Prob. 9PACh. 5 - Prob. 10PACh. 5 - Prob. 11PACh. 5 - Prob. 12PACh. 5 - Prob. 13PACh. 5 - Prob. 14PACh. 5 - Prob. 15PACh. 5 - Prob. 16PACh. 5 - Prob. 17PACh. 5 - Prob. 1PBCh. 5 - Prob. 2PBCh. 5 - Prob. 3PBCh. 5 - Prob. 4PBCh. 5 - Prob. 5PBCh. 5 - Prob. 6PBCh. 5 - Prob. 7PBCh. 5 - During 2019, Jake Gore worked for two different...Ch. 5 - Prob. 9PBCh. 5 - Prob. 10PBCh. 5 - Prob. 11PBCh. 5 - Prob. 12PBCh. 5 - Prob. 13PBCh. 5 - Prob. 14PBCh. 5 - Prob. 15PBCh. 5 - Prob. 16PBCh. 5 - Prob. 17PBCh. 5 - Prob. 1CP
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