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Finger [1]
3 years ago
15

Beth Corbin’s regular hourly wage rate is $16, and she receives an hourly rate of $24 for work in excess of 40 hours. During a J

anuary pay period, Beth works 45 hours. Beth’s federal income tax withholding is $95, and she has no voluntary deductions. Use January 15 for the end of the pay period and the payment date.
Business
1 answer:
Vika [28.1K]3 years ago
8 0

Answer:

Gross Earnings $760

Net Earnings $606.86.

Explanation:

Beth's regular hourly wage is 40 hours at the rate of $16 per hour.

40 x 16 = $640

Overtime hourly wage is additional hours after the normal 40 hours at the rate of $24.

5 x 24 = $120

Gross earnings is calculated by adding both the above amounts.

640 + 120 = $760

Her employer will charge FICA rate of 7.65% for the amount she earns (Gross Earnings).

760 x 7.65% = 58.14

Net Earnings will be Gross Earnings less FICA and federal income tax $95.

760 - 58.14 - 95 = 606.86

Hence, Beth's Gross Earnings are $760 and Net Earnings are $606.86.

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Answer:

Report of the Independent Accountants

Explanation:

From the question we are informed about An investor who found the following in an annual report: "The financial statements, in our opinion, present fairly the financial position, operating results, and cash flows, in conformity with accounting principles generally accepted in the United States." The section which the annual report was fond by the investor is Report of the Independent Accountants. Independent Accountant's Report can be regarded as a report that encompass broad spectrum of work that has been carried out through an accountant of an independent firms. And this is usually carried for

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Because we often cant choose who our coworkers will be we should
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3 years ago
Knox operates an electronics store as sole proprietor. On April 5, Knox was involuntarily petitioned into bankruptcy under the l
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Answer:

$800

Explanation:

Since $50,800 are available for distribution, the payments will start with the trustee, the lawyers and the suppliers:

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  • lawyers will receive $10,000
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After the suppliers, lawyers and trustee are paid, only $800 are left and they will be given to Boyd. The creditors with unsecured claims will get $0.

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a self-employed taxpayer may be eligible to deduct amounts paid for medical insurance for themselves and for their families, as
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A self-employed taxpayer may be eligible to deduct amounts paid for medical insurance for themselves and for their families, as long as neither they nor their spouse was eligible for employer-sponsored health insurance. This deduction claimed to Claim a non -refundable tax credit based on the cost of the insurance.

insurance is a settlement that transfers the risk of monetary loss from an individual or business to a coverage organization. They acquire small quantities of money from clients and pool that cash collectively to pay for losses. Coverage is split into essential classes: belongings and Casualty coverage (percent).

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7 0
1 year ago
What countermeasure could it take to prevent the Congress from expanding the money​ supply? A. Increase regulations to prevent t
Vika [28.1K]

Answer:

B. Sell government securities to prevent the expansion of the money supply.

Explanation:

  • The federal reserve can expand the money supply by modifying the money supply and refers to the amounts of the finds the banks must hold against the deposits and thus by allowing the reserves needs the banks are able to load more money and increases the supply in the economy. Thus by selling the securities the banks can control the supply and interest rates and is called an open market.
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3 years ago
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