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Using the following information, provide the net FUTA tax. Show...

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Question

Accounting

Using the following information, provide the
net FUTA tax.
Show your calculations (use of Excel preferred but not required).
Total amount charged to wages during the year 126,000
Wages not paid until the next year 1,440
Wages paid in excess of $7,000 limit 28,920
Credit rate available to company

5.4%

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