Business
Business, 03.06.2020 13:26, magicpuppydance

Note: For this textbook edition the rate 0.6% was used for the FUTA tax rate for employers. The information listed below refers to the employees of Lemonica Company for the year ended December 31, 2016. The wages are separated into the quarters in which they were paid to the individual employees. Name Social Security # 1st Qtr. 2nd Qtr. 3rd Qtr. 4th Qtr. TotalRobert G. Cramer 000-00-0001 $5,800 $5,000 $5,000 $5,200 $21,000 Daniel M. English (Foreman) 000-00-0003 13,000 13,400 13,400 13,400 53,200 Ruth A. Small 000-00-1998 2,000 2,300 2,300 2,400 9,000 Harry B. Klaus 000-00-7413 11,600 11,700 11,700 11,700 46,700 Kenneth N. George (Manager) 000-00-6523 13,600 14,000 14,500 15,000 57,100 Mavis R. Jones 000-00-6789 1,600 1,700 1,700 -0- 5,000 Marshall T. McCoy 000-00-3334 11,400 11,400 -0- -0- 22,800 Bertram A. Gompers (President) 000-00-1014 24,500 25,000 25,500 26,300 101,300 Arthur S. Rooks 000-00-7277 -0- 700 1,700 1,700 4,100 Mary R. Bastian 000-00-8111 8,000 8,200 8,200 8,200 32,600 Klaus C. Werner 000-00-2623 2,300 2,500 2,500 2,500 9,800 Kathy T. Tyler 000-00-3534 -0- -0- 11,300 11,700 23,000 Totals $93,800 $95,900 $97,800 $98,100 $385,600 For 2016, 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 of each calendar quarter. During 2016, the company paid $2,214.80 of contributions to State D's unemployment fund. The president of the company prepares and signs all tax forms. The company uses Magnetic Media UC-2A when completing the form. Employer's phone number: (613) 555-0029. Employer's State D reporting number: 00596.Using the forms below, complete the following for 2016. When required, round amounts to the nearest cent. Use the rounded answers for subsequent computations, if required. a. What is the date and amount of the FUTA tax payment for the fourth quarter of 2016? State D is not a credit reduction state. Enter date in mm/dd/ format. Tax Payment:Date AmountReport the amount of your FUTA tax liability for each quarter; do NOT enter the amount you deposited. If you had no liability for a quarter, leave the line blank.16a 1st quarter (January 1 – March 31) . . . . . . . . . . . . . . . . . . . . . . . . . 16a 16b 2nd quarter (April 1 – June 30) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16b 16c 3rd quarter (July 1 – September 30) . . . . . . . . . . . . . . . . . . . . . . . . . 16c 16d 4th quarter (October 1 – December 31). . . . . . . . . . . . . . . . . . . . . . . 16d 17 Total tax liability for the year (lines 16a + 16b + 16c + 16d = line 17) 17

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Note: For this textbook edition the rate 0.6% was used for the FUTA tax rate for employers. The info...

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