Determine if the following situations describe a game or a decision. Indicate what specific features of the situation caused you
1 answer:
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Answer:
Please check the images attached below
Explanation:
Salaries Payable = (Salariesexpense - Socialsecurity taxes - Medicaretaxes - Incometaxes - MedicalcareInsurance Education - Union dues)
=$28,000−$1,736−$406−$3,800−$678−$190
=$28,000−$6,810
=$21,190
Hence, the salaries payable are $21,190.
Compute the social security taxes using the equation as shown below:
\begin{array}{c}\\{\rm{Social security taxes}} = {\rm{FICA tax rate}} \times {\rm{Salaries expense}}\\\\ = 6.2\% \times \$ 28,000\\\\ = \$ 1,736\\\end{array}
Socialsecuritytaxes=FICAtaxrate×Salariesexpense
=6.2%×$28,000
=$1,736
Hence, social security taxes are $1,736.
Compute the Medicare taxes using the equation as shown below:
Medicaretaxes=Medicaretaxrate×Salariesexpense
=1.45%×$28,000
=$406
Hence, Medicare taxes are $406.
Answer:
$1,247.12
Explanation:
For computing the asked price we need to apply the present value formula i.e to be shown in the attachment below
Given that,
Future value = $1,000
Rate of interest = 4.151% ÷ 2 = 2.076%
NPER = 17 years × 2 = 34 years
The 20 years come from May 2019 to May 2036
PMT = $1,000 × 6.193% ÷ 2 = $30.965
The formula is shown below:
= -PV(Rate;NPER;PMT;FV;type)
So, after applying the above formula, the present value or the ask price is $1,247.12
