Answer:
The city's net investment in capital assets is $30,000
Explanation:
To calculate the city's net investment in capital assets we start with the total amount of capital assets:
Capital assets $800,000
minus accumulated depreciation ($120,000)
<u>minus outstanding bonds ($650,000) </u>
net capital assets $30,000
Answer:
Total deduction 2,443.21
Explanation:
8,288
x 6.20% Sccial Security 513.856
x 1.45% Medicate 120.176
x 6.20% FUTA&SUTA (for 7,000) 434
Income tax witheld 1,375.17
Total deduction 2,443.21
We will multiply his taxable wages for period by the tax rate.
We must noticew FUTA and SUTA applies fdor the first 7,000 only so we multiply by 7,000 not by 8,288
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Chain stores are defined as follows: A chain store system consists of a number of retail stores, which sell similar products, are centrally owned and operated under one management. A chain store is one of the retail units in the chain store system.
