Employee annual earnings subject to the tax

Assignment Help Accounting Basics
Reference no: EM13258956

For which of the following taxes is there no ceiling on theamount of employee annual earnings subject to the tax?

a. only FICA tax

b. only federal income tax

c. only federal unemployment compensation tax

d. only state unemployment compensation tax

Reference no: EM13258956

Questions Cloud

What are the moral justifications for the free market system : What are the moral justifications for the free market system? How are they jeopardized by monopolies and oligopolistic markets? Fully explain your answer and reasoning.
State the chemical equation for the nuetralization : A solution is initially 0.050M in acetate, CH3COO- (Kb = 5.6 x 10^-10). 10.0mL of 0.10 M HCl is added. a) Write the chemical equation for the nuetralization reaction that occurs.
Determine the benefits : Compare and contrast the free market systems with planned economies. determine the benefits and drawbacks of each. analyze the different ways to evaluate economic performance.
Compute cost of goods available for sale : Compute cost of goods available for sale and the number of units available for sale. Compute the number of units in endinginventory.
Employee annual earnings subject to the tax : For which of the following taxes is there no ceiling on theamount of employee annual earnings subject to the tax?
What are the implications of the information : People in a particular south american country have high power distance and high collectivism. what does this mean, and what are the implications of this information when you( a senior executive) visit employees working for your company in that countr..
How far does the boat move : You are with 11 other people on a boat at rest in frictionless water. The group's total mass is 858kg, How far does the boat move
Compute the equilibrium concentrations of the four gases : Kc for this reaction is 5.1 at 400 degrees C. Calculate the equilibrium concentrations of the four gases if the initial concentration of each of them is 0.050M.
Type of adjusting entries : Based on this information, what type of adjusting entries does the Ritz Manor have? How are the amounts of these adjustments determined?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Different types of dividends

What are the different types of dividends that corporations may issue? When should a corporation pay dividends? Would you prefer a stock dividend or a cash dividend? Why?

  Franco capital account balance

At the beginning of the year, the capital account balances were: franco capital, $40000; elisa capital, $58000. franco's capital account balance at the end of the year is ??

  Prepare a comparative condensed income statement

Prepare a comparative condensed income statement for 2001 under FIFO and LIFO. Which cost flow method (FIFO or LIFO) produces the most meaningful inventory for the balance sheet? Why? Which cost flow method produces the most meaningful net income? Wh..

  Break-even point and operating leverage

Explain how the break-even point and operating leverage are affected by the choice of manufacturing facilities (labor intensive versus capital intensive).

  Absorption and variable costing income statements

Explain the difference between absorption and variable costing income statements and discuss which method has a greater chance of manipulation by management.

  What is the effect of each system on the product cost

What are the differences between job cost and process cost systems? When would it be appropriate to use each type of system? What is the effect of each system on the product cost?

  Determine the variable cost component per machine hour

Utilities are typically a ‘mixed cost,' containing both a fixed and variable element. Given the following history of electric bills and machine hours, use the "High/Low Method" to determine the variable cost component per machine hour:

  Comparative income statement with horizontal analysis

Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease) for 2010 when compared with 2009. Round to one decimal place.

  Common errors-frauds in personnel and payroll cycle

What are the common errors and frauds in the personnel and payroll cycle? Which control characteristic are auditors looking for to prevent or detect these errors and frauds?

  S how they employ the various elements of the promotion mix

. Sea Ray is one of today's most successful manufacturers of sport boats, cruisers, and yachts. They have models ranging from a small 17-foot sport boat up to a 61-foot motor yacht. Take a look at the company Learn about their product offering. Most ..

  Classified as a sales-type lease

The lease is appropiately classified as a sales-type lease. Asuming the interest rate for the lease is 10% what will the balance reported as a liability be by the lessee on dec 31, 2007?

  Shares of warner company stock

During each of the next two years, warner declared and paid cash dividends of $0.85 per share, and its net income was $72,000 and $67,000 for 2007 and 2008, respectively. The January 12, 2009, entry to record the sale of 3,000 shares of warner com..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd