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
Anuta_ua [19.1K]
3 years ago
11

Sabrina Duncan had gross earnings for the pay period ending 10/15/16 of $5,835. Her total gross earnings as of 9/30/16 were $104

,400. If Social Security taxes are 6.2% on a maximum earnings of $106,800 per year, Sabrina's Social Security withheld from her 10/15/16 paycheck would be:A. $212.97B. $361.77C. $205.08D. $148.80
Business
1 answer:
ivann1987 [24]3 years ago
7 0

Answer:

option (A) $212.97

Explanation:

Data provided in the question:

Gross earnings for the pay period ending 10/15/16 = $5,835

Total gross earnings as of 9/30/16 = $104,400

Social Security tax rate = 6.2%

Now,

Total earnings

= Gross earnings for the pay period ending 10/15/16 + Total gross earnings as of 9/30/16

=  $5,835 + $104,400

= $110,235

since,The Social Security taxes are on a maximum earnings of $106,800 per year

therefore,

Sabrina's Social Security withheld from her 10/15/16 paycheck will be

= ( Total earnings - $106,800 ) × Social Security tax rate

= ( $110,235 - $106,800 ) × 0.062

= $3,435 × 0.062

= $212.97

Hence,

The answer is option (A) $212.97

You might be interested in
Dionne just learned that her company will be announcing layoffs at the end of the month. She is completely overwhelmed by the ne
pochemuha

The answer to the blank space is stress. To be more specific, what Dionne is experiencing a form of stress known as distress, because it is causing her negative or adverse effects, since she is overwhelmed because of it.

There is also another type of stress called eustress which will give the person who is perceiving it a better performance or even a better feeling.

3 0
3 years ago
Suppose we are looking at a cash flow statement constructed using the INDIRECT method. We see a NEGATIVE adjustment of $5000 rel
ozzi

Answer:

It implies that the firm paid $5,000 to its supplier this accounting period (e.g. year) out of the amount the firm is owing the supplier.

Note: The correct answer is as stated above it is not included in the option. Kindly confirm the options again from your teacher.

Explanation:

Accounts payable refers to the amount of money a firm is owing its suppliers.

Account payable is one of the component of the current liabilities in the balance sheet, and non-cash current liability item that is adjusted for in the cash flow statement to arrive at net cash from operating activities when an indirect method is being used.

Since accounts payable is the amount of money a firm is owing its suppliers, a negative  a NEGATIVE adjustment to its implies that company has paid its supplier the negative amount in the accounting period.

Therefore, a NEGATIVE adjustment of $5000 related to Accounts Payable implies that the firm paid $5,000 to its supplier this accounting period (e.g. year) out of the amount the firm is owing the supplier.

7 0
3 years ago
What are examples of withdrawals from the circular flow of income? Check all that apply. A sharp increase in taxes affects many
Readme [11.4K]

A sharp increase in taxes affects many middle-class families.

A sports-apparel company cuts jobs as a result of slow sales.

A fast-food chain goes out of business and shuts down all of its restaurants.

Explanation:

The circular income or circulated flow is a model for the economy where the big transactions between the market participants are represented as cash flows, goods and services, etc. The cash and goods flows transferred in a closed circuit complement the interest but are going in the reverse direction.

Retirements are factors in an economy that escapes from distributed labor flows and reduces national income sizes.

Withdrawals include: savings, taxes and imports.

6 0
3 years ago
Read 2 more answers
Which of the following reflects the order of operations?
Gnesinka [82]
If you are talking about the priority of the order of operations. It is C.
5 0
3 years ago
Read 2 more answers
If you buy a share of stock for $15 and sell it two years later for $18.50, what is the annual percent return (on a compounded b
nadya68 [22]

Answer:

11%

Explanation:

Compounding is the method used to determine the future worth of an amount today while discounting is the method used to determine the present value of a future amount.

Both are related by

Fv = Pv(1 + r)^n

where Fv is the future amount

Pv is the present value

r = rate

n = time

As such,

18.5 = 15 (1 + r)^2

1.2333 =  (1 + r)^2

1 + r = 1.11

r = 0.11

the annual percent on returns is 11%

7 0
3 years ago
Other questions:
  • Not all the items in your office supply store are evenly distributed as far as demand is concerned, so you decide to forecast de
    6·1 answer
  • Laurent saves money from his lawn service to buy a new $20,000 mower and trailer. He would like to buy the new equipment as soon
    7·1 answer
  • rippett Industries manufactures cleaning products. During the year, the company spent $600,000 on chemicals and $728,000 on conv
    11·1 answer
  • Geneva Company manufactures dolls that are sold to various distributors. The company produces at full capacity for six months ea
    8·1 answer
  • To create a successful advertising campaign on facebook, a good strategy a brand manager can use is to
    5·1 answer
  • Your friend remarks that longer movies are a better deal than shorter movies because the ticket price is the same in both cases.
    11·1 answer
  • Pincher Company purchased 50 Issac Company 12%, 10-year, $1,000 bonds on January 1, 2020, for $50,000. The bonds pay interest se
    14·1 answer
  • The effect on existing deferred income tax accounts when a change in the tax rate is enacted into law should be Group of answer
    15·1 answer
  • A work system has five stations that have process times of 5, 9, 4, 9, and 8. What is the bottleneck time
    9·1 answer
  • Employees at House of Pancakes pretend that they like their boss even though most of the time they do not. These employees are e
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!