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ArbitrLikvidat [17]
3 years ago
7

Portia Grant is an employee who is paid monthly. For the month of January of the current year, she earned a total of $8,838. The

FICA tax for social security is 6.2% and the FICA tax rate for Medicare is 1.45%. 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 $1,466.47. What is the total amount of taxes withheld from the Portia's earnings
Business
1 answer:
Setler79 [48]3 years ago
7 0

Answer:

$2142.57

Explanation:

-The first step is to calculate the security tax and Medicare tax

If the total earning of Portia grant for the month of January is $8,838 then the security tax and FICA Medicare tax can be calculated as follows

Security tax= 6.2/100×8,838

= 0.062×8,838

= 547.95%

Medicare tax= 1.45/100×8,838

= 0.0145×8,838

= 128.15%

-The next step is to calculate the total amount of taxes

The SUTA and FUTA taxes is the amount of tax that is paid by the owner of the organization and as such they are not included in Portia's earning

If the Federal income tax withheld is $1,466.47 then, the total amount of tax withheld from Portia's earning can be calculated as follows

= 547.95+128.15+1,466.47

= $2142.57

Hence the total amount of taxes withheld from Portia's earning is $2142.57

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Answer:

Best estimate of the current stock price= $42.64

Explanation:

Price of the stock today = \frac{D1}{(1+ke)^1}+\frac{D2}{(1+ke)^2}+\frac{P2}{(1+ke)^2}.

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Price of the stock today = \frac{1.75(1.25)}{(1+0.12)^1}+\frac{1.75(1.25)(1.25)}{(1+0.12)^2}+\frac{1.75(1.25)(1.25)(1.06)}{(0.12-0.06)(1+0.12)^2}. = $42.64

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3 years ago
A travel agency discovers that it has been charged for payments to a print shop drawn on checks written by an unknown third part
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Answer:

Forgery or Alteration Coverage Form.

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The travel agency loss would be covered under Forgery or Alteration coverage form.

Under Commercial Crime insuring agreement, It insures an individual or business against the forgery or alteration of financial instruments e.g promissory notes, drafts, and checks with respect to payment of a sum of money that was made or drawn by the insured or anyone acting on his/her behalf such as next of kin.

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Answer:

The major faults of measurement are:

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Explanation:

During business research, the data collected during the survey can become very unusable due to errors arising from the factors listed above.

The problem of coverage arises when for instance an electronic survey is used to collect data from a sample population where 69% for instance, do not have access to a mobile phone or a computer.

Measurement problems during a survey speak to the ability to properly design a questionnaire in such a way that it elicits the right kinds of responses. This means asking the right questions so that the responses or answers are accurate. The irony of measurement error is that one's survey is useless if they got the questionnaire design wrong, regardless of whether or not the response rate was very high.

After administering a survey and there is little or no response, one is said to have an error in response rate. A low response rate increases the error margin of the survey as well as it's unreliability.

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Another error can occur when the researcher includes the wrong population or excludes the right population. This is called <em>Error in Population Specification. </em>

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