The amount of her post-tax deductions is $120.
<h3>What is post-tax deductions?</h3>
Amount automatically taken out of an employee's post-tax income is known as an after-tax deduction. This sum represents what is left over after payroll taxes and pre-tax deductions from paychecks have been applied.
Post-tax deductions are made from an employee's paycheck following the withholding of all necessary taxes. Post-tax deductions don't cut the overall tax burden for the person because they lower net compensation rather than gross pay.
An after-tax 401(k) contribution is made exactly as the name implies, after taxes have been paid. Earnings increase tax-deferred, much like a Roth 401(k). Contrary to a Roth 401(k), the account's profits are taxed when they are withdrawn. The after-tax choice existed before the Roth 401. (k).
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Answer:
$102,348.034
Explanation:
It is a simple problem of Compound Interest, we have to find the Principle amount invested.
Given:
Future value (F) = $260,000
Rate(R) = 6% = 6/100 = 0.06
Number of years (n) = 16 years
Initial deposit (C) = ?
Calculation:
$260,000/2.54035168 = C
$102,348.034 = C
So, Initial cash Deposit = $102,348.034
Market values: reflect expected selling prices given the current economic situation.
<h3>
What is market value?</h3>
Market value is the price buyers are willing to pay for an asset in the marketplace. In the case of publicly-traded assets or entities, it is also known as market capitalization and is calculated by multiplying the current price by the number of outstanding units.
There are a few components that go into calculating the market value of some assets such as businesses and with real estate, it involves a lot more than knowing about share prices. The business market value determination can also take components such as the value of intangibles and the future value of related assets into consideration.
Market value is more than a price but denotes the true underlying and not only the perceived value.
Thus , the correct answer is that Market values is reflect expected selling prices given the current economic situation.
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Answer:
Total cost is $24060
Explanation:
Total demand per year = 12000 units
Size of one order = 3000 units
Total number of orders = 12000 / 3000 = 4
Per order cost = $15
Per unit cost = $2
Below is the calculation to find the total cost.
Total cost = Number of orders × Per order cost + Total demand per year × Per unit cost
Now insert the values.
Total cost = 4 ×15 + 12000 × 2
Total cost = $24060
Answer and Explanation:
The journal entry required to close the income summary account is given below:
Income summary Dr ($202,000 - $112,200) $89,800
To retained earnings $89,800
(Being the closing of the income summary is recorded)
The above entry should be passed for closing out the income summary account
The same is to be considered
