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vovangra [49]
3 years ago
5

George Clausen (age 48) is employed by Kline Company and is paid a salary of $42,640. He has just decided to join the company’s

Simple Retirement Account (IRA form) and has a few questions. Answer the questions for Clausen. (use 2015 tax information)
a.What is the maximum that he can contribute into this retirement fund? b.What would be the company’s contribution?
c.What would be his weekly take-home pay with the retirement contribution deducted(married, 2 allowances,wage-bracket method,and a 2.3%state income tax on total wages)?
d.What would be his weekly take-home pay without the retirement contribution deduction?
Business
1 answer:
Slav-nsk [51]3 years ago
3 0

Answer: a) Maximum contribution - $11,500

b). The contribution by the $1,279.20

C). Take home pay with the retirement contribution deduction = $487.26

d). Take home pay without the retirement contribution deduction = $675.41

Explanation: George being a contributor to the retirement savings account is entitled to some allowances.

The maximum contribution he can make is $11,500 while the complany contributes 3% of his salary. That is 3% × $42,640 = $1,279.20

Having a weekly pay of $820 ($42,640/52 weeks) and being married his take home will be; Weekly Retirement contribution ($11,500 ÷ 52 weeks) = (221.15)

FIT ($820.00 – $221.15 = $598.85 taxable) (30.00)

State income tax ($820.00 × 0.023) =$18.86

Therefore take home =$ 487.26 *Married, 2 allowances.

Finally, George’s take-home pay without the retirement contribution deducted:

Weekly pay =$820.00

FICA—OASDI =($50.84)

FICA—HI = (11.89)

FIT (on $820.00) =(63.00)

State income tax ($820.00 × 0.023) = (18.86)

Therefore, Take-home pay =$675.41

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SCORPION-xisa [38]

Answer: Prospecting stage

Explanation:

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The prospecting stage is basically refers to the database, social contacts, various types of trading show that are used for locating the potential consumers according to the requirement.

Therefore, Prospecting stage is the correct answer.

5 0
2 years ago
What collective name do we refer to: natural resources, labor, capital, education or know-how?
pshichka [43]

Answer:

Factors of production

Explanation:

The general name is factors of production. They are also the 'inputs' in the production process.

The factors of production are combined or put together for the productions of goods and services to happen.  The four factors include land, which represents the natural resources in this case.

<u>Land</u> refers to the space used to set up a business, and fertile lands used for agriculture, minerals, oil and gas, forest, and other natural resources.

<u>Labor </u>is the human input in production. It involves workers' knowledge, skills, strength, and time spent on the production process.

<u>Capital </u>is the money and assets used to start and maintain the business operation. It includes plant and machinery, equipment, building, factories used in making products for sale.

<u>Know-how </u>refers to entrepreneurship. It is the skills, willingness, and ability to put together and manage the other factors to produce goods.

3 0
3 years ago
79% of employees believe that it is important to have what in the workplace?
kupik [55]

79% of American workers say company culture is an important factor in their job satisfaction. 83% of millennials cite work-life balance as the most important factor when evaluating their future jobs.

Culture is an umbrella term encompassing the social behaviors, establishments and norms of human societies and the expertise, ideals, arts, laws, customs, abilties and customs of people in those groups. subculture regularly originates from or is attributed to a specific area or area.

Way of life can be defined as all of a populace's manner of existence which includes arts, beliefs and establishments which might be passed down from era to era. tradition has been described as “the manner of life of the complete society”.

As such, it consists of codes of conduct, dress, language, religion, rituals, and artwork.

Learn more about culture here:brainly.com/question/25010777
#SPJ4

3 0
1 year ago
A single taxpayer earns $500,000 of salary income and $20,000 of interest income in 2019. The taxpayer is a material participant
sukhopar [10]

Answer:

$220,000,

Explanation:

Given that:

  • $500,000 of salary income
  • $20,000 of interest income in 2019

So the total income of the taxpayer is: $500,000 + $20,000 = $520,000

As we know that, AGI (Adjusted gross income) is used to calculate how much income of a taxpayer is taxable. They are expenses incurred by the earner which are deducted before taxing.

In this situation, his share of the partnership's loss for the year is $300,000, so the taxpayer will report an AGI of:

$520,000  -  $300,000

=  $220,000

I hope it will find you well.

6 0
3 years ago
Read 2 more answers
PLZ HELP
pochemuha

Answer:

D. Government agency report

Explanation:

D. makes the most sense!! Good luck!

7 0
2 years ago
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