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3 years ago

How to find out how much your social security will be?

1 answer:

4 0

It depends on how much money you've earned. You have to work a minimum of 10 years. You get credits based on how much you made. The amount varies, but for about every $1300 you earn you get one credit towards your social security. Each year you get 4 credits max. After 40 credits you can claim it. Even if you change jobs or stop working your credit remains.

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Elize’s regular hourly wage rate is $20, and she receives an hourly rate of $30 for work in excess of 40 hours. During a January

saveliy_v [14]

Answer:

(a) Debit Wages expense for $950; Credit Federal income tax withholding for $94; and Credit Wages payable for $856

(b) Debit wages payable for $856; and Credit Cash for $856.

Explanation:

The entries will look as follows:

a) Prepare the journal entries to record Elize’s pay for the period

Date Account title Dr ($) Cr ($)

Jan 15 Wages expense (w.3) 950

Federal income tax withholding 94

Wages payable (w.4) 856

(To Elize’s pay for the period.)

(b) Prepare the journal entry to record the payment of Elize’s wages.

Date Account title Dr ($) Cr ($)

Jan 15 Wages payable (w.4) 856

Cash 856

(To record the payment of Elize’s wages.)

Workings:

Normal hours = 40

Number of hours worked = 45

Overtime hours = Number or hours worked - Normal hours = 45 - 40 = 5

Normal hourly wage rate = $20

Overtime hourly rate = $30

Federal income tax withholding = $94

w.1: Normal wage amount = Normal hours * Normal wage rate = 40 * $20 = $800

w.2: Overtime pay = Overtime hours * Overtime hourly rate = 5 * $30 = $150

w.3: Wages expense = Normal wage amount + Overtime pay = $800 + $150 = $950

w.4: Wages payable = Total wage amount - Federal income tax withholding = $950 - $94 = $856

3 0

3 years ago

When leasing nonresidential properties,owners would prefer to rent exclusively to high quality tenants.Such owners will tend to

Inessa [10]

Answer:

B) credit tenants

Explanation:

A credit tenant is a nonresidential person who has entered and continued to be subject under the lease of the property and has a rating assigned to as investment grade and has the long term debt obligations.

A rating of BBB U.S rating grade is usually applied to them, the other agencies that give this rating score are credit rating agencies, are the Standard & Poor's (S&P), the Moody's, and the Fitch Group. S&P and the Moody's etc.

6 0

3 years ago

Return on assets is computed as net income divided by total assets. true false question. true false

zvonat [6]

The statement, return on assets is computed as net income divided by total assets, is true.

Return on assets (ROA) is a profitability ratio, which measures that how efficiently a company uses the assets it owns to generate profits. If a company wants increase the return on assets then the company tries to increase the profit margin.

So the return on asset of a company is computed by dividing the net income earned by the company by average total assets employed by the company. Thus, it measures how much percentage of profit the company is generating in respect to its assets.

Hence, the higher the percentage of return on assets, the better it is.

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5 0

1 year ago

Duffert Industries has total assets of $1,080,000 and total current liabilities (consisting only of accounts payable and accrual

iris [78.8K]

Answer:

ROIC is 9.26%

ROE is 12.63%

Explanation:

According to the given data we have the following:

Total assets = $1,080,000

Total liabilities = Current liabilities + Debt + Common equity = $1,080,000

D/(D + E) = 0.40

D / ($1,080,000 - 100,000) = 0.40

D = $392,000

Common equity = Total liabilities - Current liabilities - Debt = $1,080,000 - 100,000 - 392,000= $588,000

BEP = 0.15 = EBIT/TA

= EBIT/$1,080,000

Therefore, EBIT = $162,000

In order to calculate the ROIC we would have to make the following calculation:

ROIC = [EBIT(1 – T)]/(D + E) = [$151,200(0.6)]/($392,000 + $588,000) = 9.26%

ROIC is 9.26%

To calculate the ROE we would have to calculate first net income from income statement as follows:

EBIT=$151,200

Less: Interest ($392,000 x 7%) 27,440

EBT= 123,760

Less: Tax 40% 49,504

Net Income= 74,256

Therefore, ROE = NI/E = $74,256/$588,000 = 12.63%

ROE is 12.63%

6 0

3 years ago

What is the best explanation for the slope of the keynesian zone of the aggregate supply curve?

Bond [772]

An increase in aggregate demand when the economy is below potential output increases real output and has little or no effect on price levels.

The Keynesian aggregate supply curve shows that the AS curve is fairly flat. This means that during economic downturns, firms supply the quantity of goods demanded at a particular price level.

The Keynesian zone is on the left side of his SRAS curve and is fairly flat, so movements in aggregate demand affect production but have little effect on price levels.

The Keynesian model suggests that in the short term less flexible wages and prices will push the aggregate supply curve upward. This model makes it more likely that the economy will fall below the full employment level. This means companies can hire new workers and increase production without raising wages or prices.

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8 0

2 years ago