1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Rina8888 [55]
3 years ago
5

Use the net FUTA tax rate of 0.6% on the first $7,000 of taxable wages. Michael Mirer worked for Dawson Company for six months t

his year and earned $11,200. The other six months he earned $6,900 working for McBride Company (a separate company). The amount of FUTA taxes to be paid on Mirer's wages by the two companies is
Business
1 answer:
lisov135 [29]3 years ago
5 0

Answer:

$83.4

Explanation:

Under FUTA, only the first $7000 earning per year will be taxed. Any amounts above $7000 will be tax-exempt.

For Michael, the tax will be calculated as follows.

for the$11200 earned in Dawson company

=0.6% x $7000

=0.06/100 x 7000

=0.006 x 7000

=$42

Amount earned working at McBribe

=0.06% x 6900

=0.006 x $6900

=$41.4

Total to be paid by the two companies

=$42 + $ 41.4

=$83.4

You might be interested in
Does Apple's common stock have a par value? If so, how much was the reported par value per share? How many shares of common stoc
vlabodo [156]
The par value for shares of Apple is $0.000015
7 0
3 years ago
A player in a game theoretic model is: a. anyone working for a firm that is operating strategically b. a firm that is operating
nadezda [96]

Answer:  c. a decision-making entity at a firm involved in a strategic game

Explanation:

In a theoretical game, there are two players that have to embark on different strategies such that they make the maximum payoff. This maximum payoff strategy is known as the dominant strategy.

These two players are the decision making entities in the firms that are competing in the game because they are the ones that decide how the firm should react and what strategy to use. For instance, the owners of the two bakeries down the street are the players because they control what either bakery will do.

3 0
3 years ago
"In a Real Estate Limited Partnership, the general partner refinances an existing $5,000,000 mortgage on a $10,000,000 property
OlgaM077 [116]

Answer:

Increase interest deductions for the limited partners.

Explanation:

In the given scenario the general partner refinances an existing $5,000,000 mortgage on a $10,000,000 property to the original amount of $8,000,000. The interest rate on both mortgages is the same.

Refinancing a loan means that more money is disbursed to the borrower before the termination of the loan.

When a loan is refinanced at the same interest rate the borrower pays more interest.

For example if the mortgage remains at $5,000,000 the interest paid on this principal will be lower.

When the loan is refinanced to $8,000,000 at the same Interest rate the interest paid will be higher because principal is higher.

So the general partner aims to increase the amount of interest paid.

4 0
3 years ago
If a family spends its entire budget in a given time frame, the family can afford either 90 cans of soup or 60 frozen dinners. A
g100num [7]

Answer:

0.67

Explanation:

Opportunity cost is the cost of the next best option forgone when one alternative is chosen over other alternatives.

If the family buys one can of soup, the opportunity cost is the frozen food forgone.

Opportunity cost of one can of soup = 60 / 90 = 0.67

I hope my answer helps you

8 0
3 years ago
17. Which of the following is a false statement about the goals of management? A. Management's concern is that a union will crea
love history [14]
I think it's either A) or B) Let me know
6 0
3 years ago
Other questions:
  • There is an employment test, a distance test, and a time test that must be met in order to deduct qualifying moving expenses
    9·1 answer
  • Mary wants to help pay for beth's education(her granddaughter). she has decided to pay for  half of the tuition costs, which are
    6·1 answer
  • The following information is available for completed Job No. 402: Direct materials, $120,000; direct labor, $180,000; manufactur
    14·1 answer
  • Like every individual business must have
    15·1 answer
  • Sam wants to grow in his current role, and he decides to take a three-month skill enhancement course. Sam is demonstrating .
    7·1 answer
  • (1) Quality of products available in superstore.
    15·1 answer
  • Miranda Company borrowed $125,000 cash on September 1, 2019, and signed a one-year 5%, interest-bearing note payable. Assume no
    11·1 answer
  • On July 31, 2017, Crane Company had a cash balance per books of $6,355.00. The statement from Dakota State Bank on that date sho
    5·1 answer
  • Last year, baldwin corp paid their workers $26. 81 per hour. how much will they be paying them 2 rounds from then?
    8·1 answer
  • Spotnick Enterprises is exploring options for entering into international markets. The key stakeholders have expressed that the
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!