Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. spring inc paid wages of $ 102,568 for the year. o

Spring Inc paid wages of $ 102,568 for the year. Of this amount, $ 80,260...

60.1K

Verified Solution

Question

Accounting

Spring Inc paid wages of $ 102,568 for the year. Of this amount, $ 80,260 was taxable for SUTA and FUTA. The SUTA rate for Spring is 3.4%. Due to cash flow problems, Spring did not make any SUTA payments until after the form 940 filing date.

a. What is the amount of credit that the company will receive against the FUTA tax? Do not put a $ in your answer. Put a comma in your answer. For example: 3,054.15

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

4. One of the many immune system functions is to protect individuals from pathogens such as...

Biology
Q

What do the terms \"diversity\" and \"health disparities\" mean to you? How are the two terms...

Psychology
Q

Which of the following is a polynomial?A. (x6-2)/(x4 + 3)B. + x4 + 16C. xy...

Basic Math
Q

17 X 2 7 0 2 where 0 05 Round your answer to the nearest...

Statistics
Q

Sketch the region bounded by y 2 x 1 y 3 x 1 and x...

Calculus
Q

Explain in your own words how to find the slope of a line. Find the...

Algebra
Q

Additional information for 2027: 1. Net income was $30,500. 2. Sales on account...

Accounting
Q

M.T. Glass, Inc. purchased the following investments on January 1, 2028: 1. 21,000 shares (representing...

Accounting
Q

#7 (due Wednesday, 10/25) Extra problem: Record sales and purchases on credit with discounts Provide...

Accounting
Q

Prepare journal entries to record each of the following transactions. The company records purchases using...

Accounting
Q

The cost of goods sold in Priyank retail store totaled $520,000. Fixed selling and administrative...

Accounting
Q

Anita Vasquez received $200,000 from her mother

Accounting