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Luda [366]
4 years ago
14

Portia Grant is an employee who is paid monthly. For the month of January of the current year, she earned a total of 8,438. The

FICA tax for social security is 6.2% of the first $128,400 of employee earnings each calendar year and the FICA tax rate for Medicare is 1.45% of all earnings. The FUTA tax rate of 0.6% and the SUTA tax rate of 5.4% are applied to the first $7,000 of an employee's pay. The amount of federal income tax withheld from her earnings was $1,400.07. Her net pay for the month is: (Round your intermediate calculations to two decimal places.)
Business
1 answer:
kupik [55]4 years ago
7 0

Answer:

Her net pay for the month is $6,392.42

Explanation:

In order to calculate Her net pay for the month we would have to calculate the following formula:

net pay for the month=Gross earnings-Total Deductions

Gross earnings=$8,438.00

Deductions:

Social security tax=$8,438*6.2% =$523.16

Medicare tax=$8,438*1.45% =$122.35

Federal income tax=$1,400.07

Total deductions=$523.16+$122.35+$1,400.07

=$2,045.58

Therefore, Net pay=$8,438.00-$2,045.58=$6,392.42

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Ingram Electric Products is considering a project that has the following cash flow and WACC data. What is the project's MIRR? No
SpyIntel [72]

Answer:

the project's MIRR is 13.50 %.

Explanation:

MODIFIED INTERNAL RATE OF RETURN (MIRR)

-It is the rate that causes the Present Value of the Terminal Value (Future Cash flows at the end of the Project) to equal Present Value of Cash outflows.

-MIRR assumes a reinvestment rate at the end of the project

The First Step is to Calculate the Terminal Value at end of year 3.

Terminal Value (FV) = Sum of (PV x (1 + r) ^ 3 - n)

                                 = $350 x (1.11) ^ 2 + $350 x (1.11) ^ 1 + $350 x (1.11) ^ 0

                                 = $431.24 + $388.50 + $350.00

                                 = $1,169.74

The Next Step is to Calculate the MIRR using a Financial Calculator :

(-$800)        CFj

0          CFj

0          CFj

$1,169.74  CFj

Shift IRR/Yr 113.50 %

Therefore, the MIRR is 13.50 %

6 0
3 years ago
Sarah grows rosebushes that she decided to sell online. She ships them using an airline. If a rosebush dies, to whom is the carr
Tpy6a [65]

If the rosebush dies while in transit, the carrier will be liable to Sarah, the principal.

<h3>Who is the carrier liable to?</h3>
  • The carrier will be liable to the person that it engaged in a business transaction to ship goods to another person.

In other words, the carrier will be liable to Sarah because it was Sarah that they got into business with. Sarah will then be liable to the buyer for the death of the rosebush.

In conclusion, option B is correct.

Find out more on liability at brainly.com/question/24777053.

7 0
3 years ago
Read 2 more answers
At December 31, 2020, the following information was available for Concord Corporation: ending inventory $35,750, beginning inven
Evgen [1.6K]

Answer:

a. Inventory Turnover = 5.299 times or 5.30 times

b. Days in Inventory = 69 days

Explanation:

a)

To calculate the inventory turnover, we first need to find out the avergae inventory. The average inventory is calculated by adding the opening and the closing inventory and dividing the sum by 2.

  • Average Inventory = (35750 + 63500) / 2 = $49625

The inventory turnover is,

  • Inventory Turnover = Cost of Sales / Average Inventory
  • Inventory Turnover = 263000 / 49625 = 5.299 times or 5.3 times

b)

Days in inventory is the period for which, on average, the inventory is kept and sold completely.

We can calculate days in inventory simply by dividing the number of days for which we are calculating the ratio for, say in this case one years or 365 days by the inventory turnover ratio we calculated.

Days in inventory = 365 / 5.30 = 68.8679 or 69 days

4 0
3 years ago
A client who has been training at high intensities in preparation for a triathlon reports joint pain, excess fatigue, and the in
ser-zykov [4K]

Answer:

The correct answer to the following question is option B) Exhaustion .

Explanation:

The general adaptation syndrome can be described as 3 stage response , that body has to stress. These are alarm reaction, resistance and exhaustion. Exhaustion is the third stage in the general adaptation syndrome, where the body has already lost its energy resources by continuously trying but the body is not able to recover from the first alarm reaction stage. In this stage body is no longer able to fight the stress.

7 0
3 years ago
A company has bonds outstanding with a par value of $100,000. The unamortized premium on these bonds is $2,700. If the company r
Lunna [17]

Answer:e. $3,700 gain.

Explanation:

Par value of Bonds =$100,000    

Unamortized premium= $2,700    

Carrying/ Book value of bonds=  Par value of Bonds +Unamortized premium

= $100,000 + $2,700 =$102,700    

Amount at which bonds retired $100,000 x 99% = $99,000  

Gain on retirement of bonds =Book value of bonds- Amount at which bonds retired

=$102,700- $99,000 = $3,700

4 0
3 years ago
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