The total amount of social insurance taxes you owe the federal government is $3,596.
The social insurance taxes will be tax rate (6.2%) of gross income amount of $58,000 which is calculated using this formula
Social insurance taxes=Social security tax rate× Gross income
Where:
Social security tax rate=6.2%
Gross income=$58,000
Let plug in the formula
Social insurance tax=6.2%×$58,000
Social insurance tax=$3,596
Inconclusion the total amount of social insurance taxes you owe the federal government is $3,596.
Learn more here:brainly.com/question/10714904
Answer:
interest payable 66,000
note payable 384,000
Land 325,000
Gain on disposal 125,000
Explanation:
600,000 x 11% = 66,000 interest payable
the land is being used to settle the note along with the accrued interest at the time:
the accounting of Transit developments record the land at cost: 325,000
as the market valuye is 450,000 so a gain for 125,000 will be recognize.
450,000 market value - 66,000 interest payable: 384,000 payment on the note principal
the entry will write-off the interest payable, decrease the note by that amount and recognize the land gain on disposal
The condition for which revenues are recognized even when the cash is collected in a different accounting period is;
- Services are provided even if cash has not yet been collected, in cases of accrual basis accounting
<h3>Revenue recognition</h3>
Two major forms of revenue recognition exist;
- When Cash is collected from customers. This is the case when the organisation uses cash basis accounting
- When services are provided even if cash has not yet been collected. This is the case when the organisation used accrual basis accounting
Read more on revenue recognition;
brainly.com/question/26274038
You notice that when a new yoga class is offered at the student recreation center at a highly desirable time, some students from the other yoga classes go to the new class instead. This statement best represents this economic concept people usually exploit opportunities to make themselves better off.
Recreation includes all of the pursuits people make for the purpose of renewing their bodies and brains and adding interest and enjoyment to their free time. Exercises like walking, swimming, meditating, reading, playing games, and dancing are examples of leisure activities.
At its most fundamental level, economics aims to explain how and why we choose the products we do. Scarcity, supply and demand, costs and benefits, and incentives are four fundamental economic ideas that can be used to explain a variety of human decisions.
Learn more about economic concepts here
brainly.com/question/27569024
#SPJ4
Answer:
Personal skills and qualities that employers look for in candidates for ... Overall, employers look for job candidates with strong personal skills because ... They are just as, if not more, important to employers, though you'll need a mix of both. ... two employees utilizing their information technology skills working on fixing a tech ...
Explanation:
