subject
Business, 20.12.2019 02:31 clickbaitdxl

Richard and linda are the only two employces of carolina company. in january, 2013, richard's gross pay was $5,500 and linda's gross pay was $5,200. each employee pays federal income tax equal to 25% of gross pay. in addition, linda pays $200 for insurance premiums and richard pays $225. each has $25 withheld for life insurance premiums. assume a fica tax rate of 8% on all earnings, a federal unemployment tax rate of 0.8%, and a state nemployment tax rate of 5.4%. the unemployment taxes are based on the first $7,000 of employee annual earnings

the entry to record the payroll 'r janary would include a

a. debt to salary payable to employees for $6,694.
b. credit to federal unemployment tax payable for $86.
c. credit to fica tax payable for $856.
d. credit to state unemployment tax payable for $578.

ansver
Answers: 3

Other questions on the subject: Business

image
Business, 21.06.2019 16:00, bryan505
Corey is trying to save money to buy a new tv. he invests $800 into an account paying 6.5% simple interest. for how long must he save if the tv costs $950? a. 2 years b. 3 years c. 4 years d. 5 years
Answers: 1
image
Business, 22.06.2019 03:30, dontworry48
Lo.2, 3, 9 lori, who is single, purchased 5-years class property for $200,00 and 7-years class property for $420,000 on may 20, 2018. lori experts the taxable income derived form the business (without regard to the amount expensed under ⧠179) to be about $550,000. lori has determined that she should elect immediate ⧠179 expensing in the amount of $520,000, but she doesn’t know which asset she should completely expense under ⧠179. she does not claim any available additional first-year depreciation. a. determine lori’s total cost recovery deduction if the ⧠179 expense is first taken with respect to the 5-year class asset. b. determine lori’s total cost recovery deduction if the ⧠179 expense is first taken with respect to the 7-year class asset. c. what is your advice for lori? d. assume that lori is in the 24% marginal tax bracket and that she uses ⧠179 on the 7-year asset. determine the present value of the tax savings from the depreciation deductions for both assets. see appendix g for present value factors, and assume a 6% discount rate. e. assume the same facts as in part (d), except that lori decides not to use ⧠179 on either asset. determine the present value of the tax savings under this choice. in addition, determine which option lori should choose. f. present your solution to parts (d) and (e) of the problem in a spreadsheet using appropriate microsoft excel formulas. e-mail your spreadsheet to your instructor with a two-paragraph summary of your findings.
Answers: 1
image
Business, 22.06.2019 07:40, sistersquad
Myflvs -question 3 multiple choice worth 2 points)(10.04 hc)in panama city in january, high tide was at midnight. the water level at high tide was 9 feet and1 foot at low tide. assuming the next high tide is exactly 12 hours later and that the height of thewater can be modeled by a cosine curve, find an equation for water level in january for panamacity as a function of time (t).of(t) = 4 + 5of(t) = 5 cost + 4o 460) = 5 cos 1+ 4of(0) = 4 cos + 5
Answers: 1
image
Business, 22.06.2019 21:00, sophiateaches053
Which of the following statements is correct? stockholders should generally be happier than bondholders to have managers invest in risky projects with high potential returns as opposed to safe projects with lower expected returns. potential conflicts between stockholders and bondholders are increased if a firm's bonds are convertible into its common stock. takeovers are most likely to be attempted if the target firm’s stock price is above its intrinsic value. one advantage of operating a business as a corporation is that stockholders can deduct their pro rata share of the taxes the firm pays, thereby eliminating the double taxation investors would face in a partnership.
Answers: 1
You know the right answer?
Richard and linda are the only two employces of carolina company. in january, 2013, richard's gross...

Questions in other subjects:

Konu
Mathematics, 20.10.2020 22:01
Konu
Mathematics, 20.10.2020 22:01