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bonganh1996 bonganh1996
wrote...
Posts: 336
Rep: 1 0
6 years ago
A 1,00 . bond, with interest at 9 on March 1 and September 1, was sold on October 30 at 105 plus accrued interest. Compute the dollar amount of the sale the seller received. (Assume a 360-day year and a commission of 5 per bond.)

Q. 2

During the first quarter, Jason Beverage Distributors paid wages of 978,800 . Of this amount, 146,00 . was paid to employees who had been paid 7,00 . earlier in the quarter. What was the employer's liability for FUTA and SUTA taxes, assuming that the state rate was 5.7? (Round down to the nearest 1.)

Q. 3

A 1,00 . bond, with interest at 9 on March 1 and September 1, was purchased on November 4 at 107 plus accrued interest. Compute the entire purchase cost of the bond. (Assume a 360-day year and a commission of 5 per bond.)

Q. 4

During the first quarter, Robert's Medical supply paid wages of 360,000 . Of this amount, 60,00 . was paid to employees who had been paid 7,00 . earlier in the quarter. What was the employer's liability for FUTA and SUTA taxes, assuming that the state rate was 5.4?

Q. 5

A 1,00 . bond, with interest at 7 on January 1 and July 1, was purchased on May 11 . Compute the dollar amount of accrued interest that will be paid to the seller. (Assume a 360-day year)
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Replies
wrote...
6 years ago
Ans. #1

1,059.75

Ans. #2

54,131
978,800 - 146,00 . = 832,800 subject to FUTA and SUTA taxes
832,800  0.00 . = 6,662.4 FUTA tax payment
832,800  0.057 = 47,469.6 SUTA tax payment
6,662.4 + 47,469.6 SUTA tax payment = 54,132

Ans. #3

1,091

Ans. #4

18,600
360,00 . - 60,00 . = 300,00 . subject to FUTA and SUTA taxes
300,00 .  0.00 . = 2,400 FUTA tax payment
300,00 .  0.054 = 16,200 SUTA tax payment
2,400 + 16,200 SUTA tax payment = 18,600

Ans. #5

25.28
bonganh1996 Author
wrote...
6 years ago
Thank you for your assistance, again and again
wrote...
6 years ago
My pleasure
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