Reserve ratio   ……………………………………………………… Contribution Rate   0.0%

Reserve ratio   ……………………………………………………… Contribution Rate   0.0% or more but less than 1.0%     …………………………………………… 6.7%   1.0% or more but less than 1.2%……………………………………………….. 6.4%   1.2% or more but less than 1.4%……………………………………………….. 6.1%   1.4% or more but less than 1.6%……………………………………………….. 5.8%   1.6 or more but less than 1.8% …………………………………………………. 5.5%   1.8% or more but less than 2.0% ………………………………………………. 5.2%   2.0% or more but less than 2.2% ………………………………………………. 4.9%   2.2% or more but less than 2.4% ………………………………………………. 4.6%   2.4% or more but less than 2.6% ………………………………………………. 4.3%   2.6% or more but less than 2.8%……………………………………………….. 4.0%   2.8% or more but less than 3.0% ………………………………………………. 3.7%   3.0% or more but less than 3.2% ………………………………………………. 3.4%   3.2% or more   ……………………………………………………………………………. 3.1%       Hyram Co. which is located in State A had an average payroll of $850,000 for the three 12 month periods ending on June 30, 2013 (computation date for the tax year 2014).  As of June 30, 2013, the total contributions that had been made to Hyram Company’s reserve account, in excess of the benefits charged amounted to $17,440.  Compute:       5–12A.   (a)   Hyram’s reserve ratio for 2013 $XX,XXX ÷ $XXX,XXX =                   (b)   2014 contribution rate for the company _______ %                   (c)    Smallest contribution that the company can make in order to reduce its tax rate if State A permits voluntary contributions                   Balance needed to qualify for 4.6% rate: $XXX,XXX × X.XXX=$XX,XXX                           Less: Actual balance……………………………………………………….                XX,XXX                           Contribution needed……………………………………………………….                $X,XXX       Tax savings realized by the company, taking into consideration made in (c) if the taxable payroll in 2014 is $980,000                           (d)   Tax without voluntary contribution…. $XXX,XXX × X.XXX     =        $XX,XXX                           Tax with voluntary contribution………. $XXX,XXX × X.XXX     =        XX,XXX                           Tax decrease resulting from voluntary contribution………..                $X,XXX                           Less: Amount of voluntary contribution…………………………..                   X,XXX                           Tax savings realized……………………………………………………….                $X,XXX       Marlene Grady and Pauline Monroe are partners engaged in operating The G&M Doll shop which has employed the following persons since the beginning of the year. Grady and Monroe are each paid a weekly salary allowance of $950.  The doll shop is located in a state that requires unemployment compensation contribution of employers of one or more individuals.  The company  is subject to state contributions at a rate of 3.1% for wages not in excess of $8100.  Compute each of the following amounts based upon the 41st weekly payroll period for the week ending October 10, 2014:   5–14A.   (a)                                                                        Taxable            OASDI             HI                                                                                               Earnings           (6.2%)        (1.45%)                           V. Hoffman…………………………………           $392.31                                                                      A. Drugan…………………………………..             288.46                                                                      G. Beiter……………………………………..             180.00                                                                      S. Egan………………………………………             220.00                                                                      B. Lin………………………………………….             160.00                                                              Grady and Monroe (partners are not taxed under FICA)                       (b)   Taxable payroll: $1,240.77                           OASDI……………………………………………… $1,240.77 × 0.062        =                                                 HI……………………………………………………… $1,240.77 × 0.0145     =                                             (c)    Taxable earnings:                           G. Beiter………………………………………………………………..    $XXX                           B. Lin…………………………………………………………………….    XXX                                                                                                                        $XXX                           SUTA tax………………………………………………….. $XXX × 0.031     =         $XX.XX                       (d)   Taxable earnings:                           B. Lin…………………………………………………………………….    $XXX                           Net FUTA tax……………………………………………. $XXX × 0.006     =           $X.XX                           The remaining employees are beyond the $7,000 limit; therefore,                           there is no FUTA tax on their salaries.                       (e)   FICA………………………………………………………………..    $XX.XX                           SUTA………………………………………………………………       XX.XX                           Net FUTA………………………………………………………..          X.XX                           Total payroll taxes…………………………………………… $XXX.XX

Struggling to find relevant content? Order a custom essay on
Reserve ratio   ……………………………………………………… Contribution Rate   0.0%
Let our experts save you the hassle
Order Now
Calculate the price
Make an order in advance and get the best price
Pages (550 words)
$0.00
*Price with a welcome 15% discount applied.
Pro tip: If you want to save more money and pay the lowest price, you need to set a more extended deadline.
We know how difficult it is to be a student these days. That's why our prices are one of the most affordable on the market, and there are no hidden fees.

Instead, we offer bonuses, discounts, and free services to make your experience outstanding.
Sign up, place your order, and leave the rest to our professional paper writers in less than 2 minutes.
step 1
Upload assignment instructions
Fill out the order form and provide paper details. You can even attach screenshots or add additional instructions later. If something is not clear or missing, the writer will contact you for clarification.
s
Get personalized services with GPA Fix
One writer for all your papers
You can select one writer for all your papers. This option enhances the consistency in the quality of your assignments. Select your preferred writer from the list of writers who have handledf your previous assignments
Same paper from different writers
Are you ordering the same assignment for a friend? You can get the same paper from different writers. The goal is to produce 100% unique and original papers
Copy of sources used
Our homework writers will provide you with copies of sources used on your request. Just add the option when plaing your order
What our partners say about us
We appreciate every review and are always looking for ways to grow. See what other students think about our do my paper service.
Education
Thank you so much
Customer 452631, October 5th, 2021
Management
Comprehensively done. Thank you
Customer 452583, July 20th, 2021
Nursing
Excellent as usual. Thank you!
Customer 452707, June 24th, 2023
Nursing
Thank you so much. I didn't know where to start and you did an amazing job. Thanks and have a great night.
Customer 452925, March 16th, 2023
Education
Thank you so much for all the help, I really appreciate it!
Customer 452631, November 3rd, 2021
Technology
Excelled job on the paper!
Customer 452885, December 28th, 2022
Social Work and Human Services
Excellent Work!
Customer 452587, September 16th, 2021
Psychology
Excellent!!!!
Customer 452587, July 28th, 2021
nursing
Thank you!
Customer 452707, April 2nd, 2022
Nursing
Great! Thanks again!
Customer 452707, July 4th, 2022
IT, Web
Great job on the paper!!
Customer 452885, January 30th, 2023
Nursing
Work is always perfectly done.
Customer 452707, January 11th, 2024
OUR GIFT TO YOU
15% OFF your first order
Use a coupon FIRST15 and enjoy expert help with any task at the most affordable price.
Claim my 15% OFF Order in Chat

Good News ! We now help with PROCTORED EXAM. Chat with a support agent for more information