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4 years ago

Jenny earns $44,500 in 2016. calculate the fica tax that must be paid by:

1 answer:

8 0

Given that Jenny earned $44,500 in 2016.

Her contribution to the Social Security is given by: 6.2% of $44,500 = 0.062 x 44500 = $2,759

Her employer's contribution to the Social Security is given by: 6.2% of $44,500 = 0.062 x 44500 = $2,759

Her contribution to the medicare is given by: 1.45% of $44,500 = 0.0145 x 44500 = $645.25

Her employer's contribution to the Social Security is given by: 1.45% of $44,500 = 0.0145 x 44500 = $645.25

Therefore, her total FICA tax is 2(2,759) + 2(645.25) = $5,518 + $1,290.50 = $6,808.50

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Grace Co. had a Chinese yuan payable resulting from imports from China and a Mexican peso receivable resulting from exports to M

bogdanovich [222]

Answer:

Possible options:

A. Yuan increase, Peso increase

B. Yuan increase, Peso decrease

C. Yuan decrease, Peso increase

D. Yuan decrease, Peso decrease

Answer is B

Explanation:

8 0

3 years ago

Five years ago, you invested in the Future Investco Mutual Fund by purchasing shares of the fund at the price of per share. Bec

tigry1 [53]

Answer:

7.12%

Explanation:

Full question <em>"Three years? ago, you invested in the Future Investco Mutual Fund by purchasing 1,000 shares of the fund at the price of $ 19.51 per share. Because you did not need the? income, you elected to reinvest all dividends and capital gains distributions. ? Today, you sell your 1,100 shares in this fund for ?$22.02 per share. If there were a 1?% load on this? fund, what would your rate of return? be? The compounded rate of return on this investment over the? three-year period is?"</em>

Value of investment three year ago = 1,000 * $19.51 = $19,510

Value of investment today = 1,100 * $22.02 = $24,222

Load = 1%. Net Proceed from sale of investment = $24,222 * (1 - 1%) = $23,979.78

Rate of return in three year = ($23,979.78 - $19,510) / $19,510

Rate of return in three year = $4,469.79 / $19,510

Rate of return in three year = 0.229103

Rate of return in three year = 22.91%

Annual Return = [(1 + 22.91%)^(1 / 3)] - 1

Annual Return = 1.0712 - 1

Annual Return = 0.712 - 1

Annual Return = 7.12%

5 0

3 years ago

Wheeler LLC purchased two assets during the current year (a full 12-month tax year). On November 16 Wheeler placed in service co

Leni [432]

Answer:

The maximum depreciation expense is $2,792

Explanation:

In order to calculate the maximum depreciation expense we would have to calculate the depreciation of service computer equipment and the service furniture as follows:

depreciation of service computer equipment=$15,500*5%

depreciation of service computer equipment=$775

depreciation of service furniture=$11,300*17.85%

depreciation of service furniture=$2,017

Therefore, maximum depreciation expense=depreciation of service computer equipment+depreciation of service furniture

maximum depreciation expense=$775+$2,017

maximum depreciation expense=$2,792

5 0

3 years ago

What is the difference between an optimistic approach and a pessimistic approach to decision making under assumed uncertainty

Hitman42 [59]

Answer:

The optimistic approach examines the best possible outcome in a given situation and chooses the 'best of the best' while the pessimistic approach examines the worst possible outcome in a given situation and chooses the 'best of the worst'.

Explanation:

Decision making under assumed uncertainty is an approach that is taken when the outcomes of future events are not entirely known. The Hurwicz criterion provides a basis on which the pessimistic and optimistic outcomes can be balanced. This criterion allows the person who makes the decision to chose a coefficient of pessimism signified by alpha (α) and it is a decimal that is graded between 0 and 1. This number signifies the worst possible outcome whereas, the number (1-α) signifies the best outcome.

So, the optimistic approach examines the best possible outcome in a given situation and allows the decision-maker to choose the 'best of the best', while the pessimistic approach examines the worst possible outcome in a given situation and the decision-maker to choose the 'best of the worst'

3 0

3 years ago

Luke heads the human resource department at a technology development company. There, he monitors trends of the labor markets wit

olasank [31]

Answer:

The correct answer would be, This scenario illustrates Luke's competency in Critical Evaluation.

Explanation:

When you critically evaluate a situation or scenario, and then make suggestions for that, it is called as Critical Evaluation. In this question, Luke monitors the trends of labor market in the industry and realizes the need of employees who must be skilled in Robotics. He realizes that his company is going to need Skilled employees in Robotics. He gathers information about the best robotic training programs in the region where the company operates. He then searched for best schools who provide training on such programs. He is basically critically evaluating the need of his business in the coming months or years and he is planning for that in advance by looking at all options and selecting the best before the need becomes serious. So Luke is using his Critical Evaluation Competency in this situation.

4 0

3 years ago