Marcy’s cumulative earnings before this pay period were $6,200

Marcy’s cumulative earnings before this pay period were $6,200, and gross for the week is$500. How much of this week’s pay is subject to taxes for SUTA and FUTA? The rates forSUTA is 5.4% and FUTA is 0.8% with a base of $7,000.
A) $300
B) $0
C) $6,700
D) $500

Emily has gross earnings of $300 and withholdings of $23 for FICA (Social Security and Medicare)and $40 for income taxes. The employer pays $23 for FICA (Social Security and Medicare)and $2.40 for FUTA. The total cost for employee Emily incurred by the employer is:
A) $325.40.
B) $303.00.
C) $342.40.
D) $328.00.

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

Company 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.

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.

The correct journal entry to record the payment of SUTA is:
A) debit SUTA Expense; credit Cash.
B) debit SUTA Payable; credit Cash.
C) debit Cash; credit SUTA Payable.
D) debit Cash; credit SUTA Expense.
I think correct answer is D

The normal balance of the Sales Returns and Allowances account is:
A) zero.
B) a debit.
C) a credit.
D) It does not have a normal balance.

A customer returned merchandise that had been paid for within a discount period for credit.
The entry was recorded with a debit to Sales Returns and Allowances and a credit to Accounts
Receivable for the net amount. This error will cause:
A) the net income for the period to be overstated.
B) the net income is unaffected.
C) the net income for the period to be understated.
D) None of these are correct.

Collected from a charge customer: This will be recorded with:
A) a credit to a liability account.
B) a credit to an owner’s equity account.
C) a credit to an asset account.
D) None of these are correct.