Given:
130,500 net pay to employees
19,000 income tax withholding
5,000 FICA withholding
130,500 + 19,000 + 5,000 + 5,000 = 159,500
<span>The total wages and payroll tax expense to the company for this pay period, excluding any unemployment taxes, is $159,500.
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The 5,000 is added twice because the first 5,000 is withheld from the employees salary as the employees share. The employer also has to pay off 5,000 as employer's share to the employee's FICA withholding. Thus, the presence of the 2nd 5,000.
FICA, <span> Federal Insurance Contributions Act,</span> is composed of
1) <span>6.2 % Social Security tax;
2) <span>1.45 % Medicare tax (the “regular” Medicare tax); and
3) 0.9 % of a Medicare surtax starting 2013 for employees earning over $200,000.
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Answer:
6
Explanation:
Marketplace simulations are designed for university business courses and for executive programs. It is developed by Innovative Learning Solutions Inc. The simulation enables students to experiment business strategies, test run their business ideas and get the consequences of their actions. This is gotten in a virtual business environment.
Answer:
the money will spend for people who are struggling to survive
actually the right answer is it will increase. got proof too. ;)
ik its a little late but you know... better to give you the right answer though then get it wrong
Answer:
a. 8.1%
Explanation:
Calculation to determine the rate earned on total assets for this company
Using this formula
Rate earned on total assets=Net income /Total Assets
Let plug in the formula
Rate earned on total assets=$25,000/$310,000
Rate earned on total assets=0.0806*100
Rate earned on total assets=8.06%
Rate earned on total assets=8.1% (Approximately)
Therefore the rate earned on total assets for this company will be 8.1%
