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Dahasolnce [82]
2 years ago
14

Roland Purcell, a technical writer, has a gross monthly income of $2,400. His earnings to date for this year are $24,000. How mu

ch is deducted this month for Social Security? How much for Medicare? ​
Business
1 answer:
kipiarov [429]2 years ago
7 0

Answer:

Deduction for Social Security = $0

Deduction for Medicare = $348

Explanation:

Given:

Annual income = $24,000

Find:

Deduction for Social Security

Deduction for Medicare

Computation:

Deduction for Social Security is 6.2 % over $84,900.

So,

Deduction for Social Security = $0

Deduction for Medicare is 1.45%

Deduction for Medicare = $24,000 × 1.45%

Deduction for Medicare = $348

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Sony introduces a new compact music player to compete with Apple's iPod that carries a two-year warranty against manufacturer's
iris [78.8K]

Answer: $651,000

Explanation:

From the above question, Apple's iPod carries a two-year warranty against manufacturer's defects.

warranty costs are expected to be approximately 3% of sales.

Total sales are $30.7 million, and actual warranty expenditures are $270,000.

Total warranty cost = $30.7 million x 3% = $921,000

During the 1st year only $270,000 of warranty expenses was made.

Therefore the company will carry as liability at the end of the year a total of $921,000 - $270,000 = $651,000

3 0
3 years ago
Esther and Elizabeth are equal partners in the EE Partnership. The partners formed the partnership seven years ago by contributi
Ber [7]

Answer: Esther does not recognize any gain or loss on the distribution and her remaining basis in EE is $15,000

Explanation:

Base on the scenario been described in the question, repayment of liabilities is treated as a cash distribution. Esther's share of the debt reduction is Since this amount is lower than her outside basis ($40,000) she does not recognize a gain or loss.reduces her outside basis by the $25,000, which leaves her $15,000 of outside basis in EE afterthe debt repayment.

8 0
3 years ago
When the price of candy bars decreased from $0.55 to $0.45, the quantity demanded changed from 19,000 per day to 21,000 per day.
just olya [345]

Answer:

0.5

Explanation:

A screenshot is attached to get the full solution

Since the coefficient is < 1, it is inelastic

8 0
3 years ago
I would like to set up a company that has operational flexibility and tax efficiencies, but I would also like reduce my personal
Natalka [10]
Aisisiizuddyhee. Shsdiuejebsvz
6 0
3 years ago
If the government uses tax money to pay for long-term investments such as roads or other infrastructure, what happens to the eco
coldgirl [10]

Is this a theory type of question?

If it is and if it took place under president Calvin Coolidge then taxes likely would have gone up.

If you are talking about now, then investment might go up but in order to pay for it, the government will just print more money, so that taxes shouldn't go up.

I'd pick C.

4 0
3 years ago
Read 2 more answers
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