<u>Answer:</u>$500
<u>Explanation:</u>
It is mandatory to deduct the social security, medicare and federal income taxes from the individuals paycheck. At first the federal income tax has to be deducted from the income. Secondly the social security has to be deducted, thirdly the state taxes have to be deducted and finally the medicare will be deducted.
Calculation of Net pay
Salary of Juanita = $12 per hr x 50hrs
=$600
Federal income tax 600 x 10%
=$60
Social security 540 x 6.2%
=$33.48
Medicare= 506.52 x 1.45%
=$7.34
So the net pay= Gross pay- deductions
=600-60-33.48-7.34
=499.17
Which is approximately $500 is the net pay.
C: The higher the risk on the investments the higher the pay out is.
Answer:
Explanation:
December 31, 2017
DR Cash $30,868
CR Lease Receivables $20,569
CR Interest Revenue $10,299
(To record less payment receipt)
Workings
Interest Revenue
= ( Present Value - Rental Payment for year) * Interest Rate
= ($178,002 - $30,868 )*7%
= $10,299.38
= $10,299
Lease Receivables
= 30,868 - 10,299
= $20,569
Answer:
debit cost income is $23000
Explanation:
given data
discounts = $100
sold = $22,000
expenses = $1,100
to find out
The second entry in the closing process
solution
we know that sale discount is $100 and other expensive is $1100
so total debit cost income is in 2nd entry would be here $100 +$1100 + good sold
so we say in 2nd entry
debit cost income = $1200 + $22000
debit cost income is $23000
Answer:
5 and 2
Explanation:
5 because Tara works $8.50 per hour which she is scheduled to work for 4hours that afternoon is
8.50*4=34 and because she does not do this, it costs her $34
2 because it is stated that kayla called her to go to the movie so meaning she too is going to the movie and she will spend $9.50 so she cannot spend that same money elsewhere and $9.50 becomes her opportunity cost
