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What is Federal unemployment tax
Federal unemployment tax (FUTA) requires the payment of taxes to provide benefits for workers during periods of temporary unemployment. This is paid ONLY by employer. It can't be withheld from the pay of employees. Set by federal legislation. Current rate is 6.2% for the first $7,000 of wages paid to every employee during calendar year. Employer may take a credit of up to 5.4% for timely contributions to state unemployment funds. This leaves an effective FUTA rate of only 0.8%.
Weston Corporation manufactures a product that is available in both a deluxe and a regular model. The company has made the regular model for years; the deluxe model was introduced
“Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.” Elaborate and explain why journal is necessary.
what is the basic meaning of debit and credit
An accounting ledger that reveals the transaction history and amounts owed independently for each supplier from whom the business gets credit for purchases. The balance in the cust
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Dunmore Coal and Iron purchased $1,000,000 in corporate bonds and 500,000 shares of common stock in its competitor, Olyphant Iron. Dunmore plans to hold onto the bonds until the ma
is money deposited to the municipality for electricity current assets
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at the end of May he has a voucher for expenditure of $270 and a balance in hand of $30. explain what the imprest amount is
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