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Drupady [299]
3 years ago
11

How do withholding taxes work

Business
1 answer:
mariarad [96]3 years ago
6 0

Answer:

Explanation:

A withholding tax is an amount that an employer withholds from employees' wages and pays directly to the government. The amount withheld is a credit against the income taxes the employee must pay during the year. ... After the Civil War in 1872, tax withholding and the income tax was abolished entirely.

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Daniel ordered 64 cases of oil for his store. Each case had 254 bottes of oil. Thirty-
AlekseyPX

Answer:

$ 5,625

Explanation:

Each case contained 254 bottles

Costs per case

High grade: @$225

Lower grade-grade: @ $150

Daniel is paying for what arrived only. He received

19 case of high grade

9 cases of lower-grade

The amount that Daniel paid:

For high grade: = 19 x $225 = $ 4,275

For lower-grade = 9 x $150 = $ 1, 350

Total amount = $ 5,625

8 0
3 years ago
On July 4, Blossom's Restaurant accepts a Visa card for a $150 dinner bill. Visa charges a 2% service fee. Prepare the entry on
Tpy6a [65]

Answer:

The journal entry is shown below.

Explanation:

According to the scenario, the journal entry for the given data are as follows:

Journal entry

Jul.4 Cash A/c Dr    $147

        Card charges A/c Dr.   $3

        To Sales revenue A/c   $150

(Being card transaction is recorded)

Computation:

Cash = $150 - 2% × $150 = $147

Card charges = $150 × 2% = $3

3 0
3 years ago
Assume that Jack and Hal and Sophia enter into an agreement for the sale of the restaurant. Hal and Sophia get a loan from the F
QveST [7]

Answer:

The best answer would be C. Fourth National Bank made an assignment.

Explanation:

The Fourth National Bank made an allocation of the loan as it was belonging to the Bank of North America stating that they got a loan.

6 0
4 years ago
A technology company is growing rapidly and needs to hire experienced developers and marketing professionals. The best people in
Vitek1552 [10]

Answer:

A technology company is growing rapidly and needs to hire experienced developers and marketing professionals. The best people in these fields usually have jobs and need to be enticed to apply elsewhere. To identify individuals who are likely to be a good match, hiring managers should<u> use social media.</u>

EXPLANATION:

Nowadays, social media has taken over and has helped in making several tasks easier. Job search and hiring have been made a lot easier by the use of social media platforms.

The hiring managers of the technology company should use social media platforms, for example, LinkedIn to reach out for all people that fit into the job. Using social media, one can easily screen out for people having experience similar to the job requirements.

6 0
3 years ago
15) One year ago, you purchased 400 shares of Romy’s Roses stock at a price of $24.15 a share. The stock pays an annual dividend
alukav5142 [94]

Answer:

= $2,748

Explanation:

Number of shares purchased = 400

Price per share (a year ago)= $24.15

Total price paid a year ago = 400*$24.15 = <em>$9,660 </em>

Annual dividend per share = $1.82

Total dividend earned = 400 * $1.82 =<em> </em><em>$728</em>

Price per share (today)= $29.20

Proceeds from sale of shares today = 400*$29.20 = <em>$11,680</em>

Next, find total dollar return;

<em>Total dollar return</em><em> = </em>Total dividend earned + Proceeds from sale of shares today - Total price paid a year ago

= <em>$728+ $11,680 - $9,660 </em>

<em>= $2,748</em>

4 0
3 years ago
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