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Verizon [17]
3 years ago
10

Joe Bob is an employee of Rollo Corporation who receives a salary of $16,800 per month. How much Social Security tax will be wit

hheld from Joe Bob's salary for the months listed?
Business
1 answer:
kolbaska11 [484]3 years ago
7 0

Answer:

<u>$1041.6 monthly</u>

Explanation:

Note that as an employee half (6.2%) of the Social Security tax will be withheld by his employer. In the social security tax, a fixed rate of 12.4% is paid up to a salary limit of $132,900.

Therefore, as long as he maintains a fixed salary, Joe would continue to pay the same social security tax rate.

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Concord Company purchased equipment for $25200 on December 1. It is estimated that annual depreciation on the equipment will be
Ray Of Light [21]

Answer:

Debit Depreciation Expense, $525;

Credit Accumulated Depreciation, $525.

Explanation:

Based on the information given in a situation where the financial statements are to be prepared on December 31, which means that the company should make the following adjusting entry:

Debit Depreciation Expense, $525

Credit Accumulated Depreciation, $525

Calculated as:

Debit depreciation expense $6,300/12

Debit depreciation expense=$525

7 0
3 years ago
Determinants of how long a firm should borrow money include?
mario62 [17]

Determinants of long a firm should borrow money include are:

⇒the seasonal environment of the business

⇒the cost of inventory

⇒the cash flow forecast

The term "capital structure" describes how a company decides to finance its projects and assets through a combination of internal resources, debt, and equity.

To lower their risk of insolvency, remain effective, and ultimately maintain or become profitable, a company should determine the ideal debt to equity ratio.

The capital structure of a company is influenced by a wide range of variables, including leverage or trading on equity, company growth, the nature and scale of the business, the desire to maintain control, the flexibility of the capital structure, investor requirements, the price to float new securities, the timing of the issue, the corporate tax rate, and the legal requirements.

To learn more about Capital Structure here

brainly.com/question/15041466

#SPJ1

4 0
1 year ago
What is the best scam ever in Business
mixas84 [53]

Like toys r us it failed because they always had low costs and low profits from their toys.

6 0
2 years ago
Read 2 more answers
How much should you save each year for maintaining your home
slega [8]

Answer:

According to the one percent rule, you should set aside at least one percent of your home's value every year for home maintenance. For a $360,000 house, this works out to $3,600 per year, or $300 per month.

6 0
2 years ago
Read 2 more answers
What does it mean that stocks and bonds are relatively liquid? a. They are easier to buy and sell than other forms of investment
Ksenya-84 [330]

Answer:

The answer is A.

Explanation:

They are easier to buy and sell than other forms of investment. When they say an asset is liquid, it means it can easily be turned or converted to cash. Liquid stocks and bonds are easier to sell and buy because they will be see a buyer and seller to pay in exchange for cash.

Illiquid means they are difficult to sell and buy or they are difficult to be converted to cash

8 0
3 years ago
Read 2 more answers
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