Answer:
$2142.57
Explanation:
-The first step is to calculate the security tax and Medicare tax
If the total earning of Portia grant for the month of January is $8,838 then the security tax and FICA Medicare tax can be calculated as follows
Security tax= 6.2/100×8,838
= 0.062×8,838
= 547.95%
Medicare tax= 1.45/100×8,838
= 0.0145×8,838
= 128.15%
-The next step is to calculate the total amount of taxes
The SUTA and FUTA taxes is the amount of tax that is paid by the owner of the organization and as such they are not included in Portia's earning
If the Federal income tax withheld is $1,466.47 then, the total amount of tax withheld from Portia's earning can be calculated as follows
= 547.95+128.15+1,466.47
= $2142.57
Hence the total amount of taxes withheld from Portia's earning is $2142.57
Answer:
1)
Debit Cash/Bank 27,000 (4,500 shares x $6 per share)
Credit Common Stock 13,500 (4,500 shares x $3 per share)
Credit Paid-In Capital in Excess of Stated Value—Common 13,500 (4,500 shares x $3 per share)
2)
Debit Cash/Bank 135,000 (4,500 shares x $30 per share)
Credit preferred Stock 135,000 (4,500 shares x $30 per share)
Explanation:
any issuing price of stock above par value will be credited in "Paid-In Capital in Excess of Stated Value—Common"
Answer: This is the correct and complete question ; The demand function for a product is given by p = -0.05x2 - 0.3x + 0.8, where p is the unit price in dollars and x is the weekly demand for the product each week, measured in thousands of units. Find the consumer's surplus if the market price for the product is $5.
Answer for the consumer surplus is 7033.3million
Explanation:
The concept of consumer surplus shows the disparity between the price that consumers are willing to pay for a product in the market and the actual price they do pay on a product. Consumer Surplus is also the difference between the price that a consumer is willing to pay for a commodity and the price that the consumer actually pays. For example, if you would pay 76p for a cup of tea, but can buy it for 50p – your consumer surplus is 26p
Consumer surplus is measured as the area below the downward-sloping demand curve, or the amount a consumer is willing to spend for given quantities of a good, and above the actual market price of the good, depicted with a horizontal line drawn between the y-axis and demand curve.
The attached below shows the detailed calculations with steps.
Answer:
True
Explanation:
INTERPERIOD EQUITY is a government's obligation for enterprise to disclose whether current-year revenues were sufficient to pay for current-year benefits, or was payments defer to future taxpayers. That is, interperiod equity refers to whether the revenues gotten in the current-year are sufficient enough to pay for the services provided that same year.
Answer:
C
Explanation:
Inflation is a persistent rise in general price level
Rise in Inflation rate = 220 / 200 - 1 = 10%
Rise in tuition fees = 115 / 100 - 1 = 15%
From the calculations, the percentage change in tuition fees is higher than the percentage change in inflation rate
