1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
forsale [732]
2 years ago
13

Given the pay rate, hours worked, tax deductions, and social security deduction, determine the gross earnings, group health insu

rance (assuming 14% of gross earnings), pension deduction (assuming 6% of gross earnings), total deductions, and net pay. 1. Gross Earnings $21.60 2. Group Health Insurance $360.00 3. Pension Deduction $186.15 4. Total Deductions $50.40 5. Net Pay $173.85
Business
2 answers:
QveST [7]2 years ago
7 0

Answer:

1. Gross Earnings                   $360

2. Group Health                     $50.40

3. Pension deduction            $21.60

4. Total deductions.              $173.85

5. Net pay                              $186.5

Had to work it out

user100 [1]2 years ago
3 0

Answer:

Gross Income - $2570 ($21.60*119)

Group Health Insurance - $360 ($2570*0.14)

Pension Deduction- $154 ($2570*0.06)

Total Deduction- $514 ($360 + $154)

Net Pay- $2056 ($2570 - $514)

Explanation:

As the question states given the pay rate and hours worked, No Data of pay rate and hours worked is provided. Gross Earnings are $21.60 which doesn’t seem accurate when compared with Group Health Insurance and Pension figures. However let’s assume the pay rate to be $21.60 and hours worked to be 119 hours then we will have the following results:  

Gross Income - $2570 ($21.60*119)

Group Health Insurance - $360 ($2570*0.14)

Pension Deduction- $154 ($2570*0.06)

Total Deduction- $514 ($360 + $154)

Net Pay- $2056 ($2570 - $514)

I hope this is the type of answer you must be looking for!

You might be interested in
Briefly explain whether you agree or disagree with the following​ statement: ​"Assets are things of value that people own. Liabi
iragen [17]

Answer:

I disagree. It is clearly a bank liability.

3 0
3 years ago
Precision Tool is trying to decide whether to lease or buy some new equipment for its tool and die operations. The equipment cos
makvit [3.9K]

Answer:

$4,200

Explanation:

Cost of equipment = $52,000

Life of equipment = 3 years

Depreciation through straight line method = 52,000/3 = $17,333

Tax rate = 33%

Pretax cost of debt = 10%

Lease amount of equipment = $18,500

After tax cost of debt = 10%*(1-0.33)

After tax cost of debt = 10%*(0.67)

After tax cost of debt = 0.067

After tax cost of debt = 6.7%

After tax lease payment amount = 18,500*(1-0.33)

After tax lease payment amount = 18,500*0.67

After tax lease payment amount = 12,395

Present Value of 3 lease payment = 12,395/(1+0.067) + 12,395/(1+0.067)^2 + 12,395/(1+0.067)^3

Present Value of 3 lease payment = 12395/1.067 + 12395/1.1385 + 12395/1.2148

Present Value of 3 lease payment = 11616.68 + 10887.13 + 10203.33

Present Value of 3 lease payment = $32,707.14

Present Value of cost involved in purchasing the equipment is $52,000, however there will be a tax shield from depreciation therefore, this amount would reduce the company's cost.

Annual depreciation tax shield = 17,333*0.33 = $5719.89. There will be tax shield on depreciation for 3 years. Therefore, present value of $5719.89 is calculated for three years:

= $5719.89/(1+0.067) + $5719.89/(1+0.067)^2 + $5719.89/(1+0.067)^3

= $5719.89/1.067 + $5719.89/1.1385 + $5719.89/1.2148

= $5360.72 + $5024.06 + $4708.50

= $15,093.28

Present Value of the cost of buying the equipment = $52,000 - $15,093.28 = $36,906.72

Net Advantage Leasing = Present Value of the cost of buying the equipment - Present Value of 3 lease payment

Net Advantage Leasing = $36,906.72 - $32,707.14

Net Advantage Leasing = $4,199.58

Net Advantage Leasing = $4,200.

7 0
3 years ago
How long does a trademark last? _____
4vir4ik [10]

Answer:

for ten years please thanks

4 0
2 years ago
Read 2 more answers
Assume that you purchased a $1,000 perpetual bond (coupon payment is $50) and the interest rate on that bond declined from 5 per
Svetlanka [38]

Answer:

D) all of the above

Explanation:

First find the present value for each alternative  using PV of perpetual cashflow formula;

PV = CF / rate

CF = 50

If rate= 5%;

PV = 50/0.05 = $1,000

If rate = 2%;

PV = 50/0.02 = $2,500

With these two calculations, we see that;

-the bond price increased by $1,500

-you could sell this bond at a capital gain, meaning you can sell it a higher price that what you bought it for.

-at an interest rate of 2%, the speculative demand for money would increase

Hence , all these choices are correct!

5 0
3 years ago
Marvin Gaye's song "Gotta Give It Up" was protected by ___________ .
monitta

Answer:

d. not selected option d copyright

6 0
3 years ago
Read 2 more answers
Other questions:
  • Ring Company designs and builds jewelry. During June it had applied overhead of $120,000. Overhead is applied at the rate of 75%
    6·1 answer
  • You need to have $32,000 in 14 years. You can earn an annual interest rate of 3 percent for the first 4 years, 3.6 percent for t
    8·1 answer
  • Tina is a human resource executive at Savvy Savers, a financial planning firm. The executives want to introduce electronic monit
    5·1 answer
  • Crash​ Sports, Inc. has two product lineslong dashbatting helmets and football helmets. The income statement data for the most r
    9·1 answer
  • Friendly’s Quick Loans, Inc., offers you "eight for ten or I knock on your door." This means you get $8 today and repay $10 when
    13·1 answer
  • 1. Why have OpenTable competitors had a difficult time competing against OpenTable? 2. What characteristics of the restaurant ma
    15·1 answer
  • The 2013 income statements of Leggett & Platt, Inc. reports net sales of $3,746.0 million. The balance sheet reports account
    14·2 answers
  • Aldo has just been audited by the IRS. He does not agree with the agent's findings but believes that he has only two choices: pa
    7·1 answer
  • On July 1, a company sells 8-year $250,000 bonds with a stated interest rate of 6%. If interest payments are paid annually, each
    13·1 answer
  • Suppose 10 new hair salons open in this city. Would this have an effect on the supply and / or demand curves? Explain
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!