Posted: August 8th, 2016

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10) Jake’s earnings during the month of March were $1,500. His earnings for the year prior to March were $5,500. Jake’s employer is subject to state unemployment of 2.0% and federal unemployment taxes of 0.8% on the first $7,000. The employer’s unemployment payroll tax expense for March is:
A) $36.40.
B) $56.40.
C) $154.00
D) $42. Unit

11) Bay Online Auction’s payroll for July includes the following data:
Gross salaries $40,000
Salaries subject to FICA:
6.2% Social Security 35,000
1.45% Medicare 40,000
Salaries subject to:
0.8% FUTA 2,000
2.0% SUTA 2,000
The employer’s payroll tax for the period would be:
A) $2,806.
B) $2,226.
C) $3,206.
D) $2,096.

12) The account for Payroll Tax Expense includes all of the following except:
A) federal income tax.
B) unemployment taxes for the year to date.
C) employer payroll taxes for the year to date.
D) FICA taxes (Social Security and Medicare) paid by the employer for the latest payroll period.

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