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Kay [80]
3 years ago
7

Calculate Social Security taxes, Medicare taxes, and FIT for Jordon Barrett. He earns a monthly salary of $11,300. He is single

and claims 1 deduction. Before this payroll, Barrett’s cumulative earnings were $128,070. (Social Security maximum is 6.2% on $128,400 and Medicare is 1.45%.) Calculate FIT by the percentage method. (Use Table 9.1 and Table 9.2) (Round your answers to 2 decimal
Business
1 answer:
FromTheMoon [43]3 years ago
8 0

Answer:

1) social security taxes = (accumulated earnings - social security maximum) x 6.2% = ($139,370 - $128,070) x 6.2% = <u>$700.60</u>

2) medicare taxes = monthly earnings x 1.45% = $11,300 x 1.45% = <u>$163.85</u>

3) in order to calculate federal income taxes, I used the 2019 tables and allowance:

2019 allowance = $350 per person

monthly paycheck between $7,333 - $13,710

must withhold $1,198.46 plus 24% in excess of $7,333

federal income taxes under percentage method = $11,300 - $350 (1 monthly allowance 2019) = $10,950

$1,198.46 + [($10,950 - $7,333) x 24%] = $1,198.46 + $868.08 = <u>$2,066.54</u>

For 2020, there are no more personal allowances.

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Answer:

free cash flow is 2.352 million

Explanation:

Given data:

operating income is $2.30 million

depreciation $1.20

tax rate is 25%

free cash flow is calculated by using below formula

free cash flow = operating  income ( 1- Tax) + depreciation -  fixed working capital

                       = 2.75( 1 - 0.25) + 1.20 - 0.6

                       = 2.352 million

free cash flow is 2.352 million

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3 years ago
Michelle Lansbury Company deposits all receipts and makes all payments by check. The following information is available from the
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The solution is given in the table file attached below

Explanation:

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3 years ago
Harrison is generally satisfied with his current work, but he is not satisfied with how much he is being paid and the benefits h
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Harrison is generally satisfied with his current work, but he is not satisfied with how much he iAs being paid and the benefits he is receiving. Which type of job satisfaction is low for Harrison is facet satisfaction.

Job satisfaction is described as the level of contentment employees sense with their activity. This goes past their each day obligations to cover satisfaction with team participants/managers, satisfaction with organizational rules, and the impact in their process on employees' personal lives.

Activity pride, job satisfaction, or painting pride is a measure of employees' contentedness with their activity, whether or not they just like the job or character factors or sides of jobs, which includes the nature of labor or supervision. activity pride can be measured in cognitive, affective, and behavioral components.

Job satisfaction is primarily based on how we experience our activity – the good profession additives that make us feel valued or let us feel like we've got a cause, vs. the terrible additives, which include long hours or ugly tasks, or feeling undervalued as a worker.

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8 0
2 years ago
Vertical marketing systems are best described as ______. Multiple choice question. the elimination of costly backward and forwar
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professionally managed and centrally coordinated marketing channels.

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Marketing can be defined as the process of developing promotional techniques and sales strategies by a firm, so as to enhance the availability of goods and services to meet the needs of the end users or consumers through advertising and market research. Thus, it comprises of all the activities such as, identifying, anticipating set of medium and processes for creating, promoting, delivering, and exchanging goods and services that has value for customers. It typically, involves understanding customer needs, building and maintaining healthy relationships with them in order to scale up your business.

Vertical marketing systems used as a promotional and sales technique of goods and services by various business firms are best described as professionally managed and centrally coordinated marketing channels.

6 0
2 years ago
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KIM [24]

Answer:

Growth rate is 6%

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Dividend growth model is used to calculate the stock price based on the dividend growth.

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