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
Liula [17]
3 years ago
8

Baker earned $113,300 of salary as an employee in 2012. How much should his employer have withheld from his paycheck for FICA ta

xes (rounded to the nearest whole dollar amount)?$1,643$8,667$6,267$6,401
Business
1 answer:
Murrr4er [49]3 years ago
5 0

Answer:

Employer should withheld $1,643 from Baker's salary

Explanation:

Baker earned $113,300 in 2012. As on 2012, FICA tax rate withheld from employee's salary is 7.65% that constitutes 4.5% of social security, 1.45% of medicare taxes and 2% additional for employees whose wages exceed $18,350.

The gross income base for social security part has increased in 2012 to $110,100. This is not applicable for medicare tax of 1.45%.

Here, Baker's salary of $113,300 is above social security limit, so his income will not be withheld for social security. However, 1.45% of his salary will be withheld for medicare tax.

Therefore, $1,643 that is 0.0145×113,300 is withheld from his salary.

You might be interested in
Upper A report about the decline of Western investment in third world countries included this: "After years of daily flights com
Ksenya-84 [330]

Answer:

True

Explanation:

The actual amount of the decrease in foreign investment is less than​ 100% therefore, if foreign investment fell by​ 100%, it would be cut in half.​ Apparently, a decrease of​ 200% means that it would be totally​ eliminated, and a decrease of more than​ 200% is impossible.The the statement does not mention the initial amount of foreign investment.

8 0
3 years ago
Esteban's job responsibilities were recently changed as part of a decentralization effort taking place at his place of employmen
REY [17]

Answer:

The correct answer is d. enriched.

Explanation:

The enrichment of tasks is a system that seeks to redesign jobs, increasing motivation and job satisfaction among workers. Therefore, the main objectives of the enrichment of the tasks are:

  • Increase the effectiveness of work organization.
  • Provide jobs that are stimulating for the person.

The advantages achieved by implementing this system in the organization of the company are:

  1. Feeling of satisfaction and motivation among workers: it breaks with the monotony and / or repetitiveness of the work.
  2. Workers are given a greater capacity for autonomy and responsibility in the tasks they carry out: as responsibility increases, workers may be encouraged to participate more frequently in decision-making, as well as in the solution of technical or organizational problems (proposals and suggestions).
  3. Better use of workers' capacities: with the new distribution of tasks, synergies may arise during collaboration between departments or even within the same.
  4. Improvement of personal relationships at work: greater collaboration during the performance of different tasks leads to increased communication and dialogue among all, thus achieving a better working environment.
  5. Greater involvement of workers: it is necessary that individuals know their role within the organization, the importance of the task they perform, as well as the results of it.
  6. Simplification of company structures: by redesigning jobs and their functions, a simplification of the organizational pyramid is achieved, resulting in a horizontal structure or flat organization. This allows workers to make their own decisions that report to a single manager, there is no intermediate link that limits the innovative capacity of the worker.
5 0
3 years ago
Nathan Long is entering into a partnership with Terri. Nathan is investing $2,000 in cash and equipment currently on Nathan’s bo
horsena [70]
The answer is

D. Debit Cash $2,000; debit Equipment $4,000; credit Nathan’s Capital $6,000
8 0
3 years ago
For each of the following corporate formations, (1) write the amount of gain or loss that will be recognized by the shareholders
Maslowich

Answer:

Back Stop, Inc.

1. The amount of gain or loss that will be recognized by the company:

a. $30,000 gain

b. $80,000 loss

2. The corporation's basis in the property after the transfer:

a. $150,000

b. ($80,000)

Explanation:

1) Data and Calculations:

a. Building $150,000 Capital, Kelly $120,000 Unrealized gain $30,000

b. Unrealized loss $80,000 Capital, Kelly $80,000

2) The building contributed by Kelly is worth $150,000 for the corporation.  However, the contribution by John is worth nothing in real terms.  Instead, an unrealized loss is being suffered by the corporation.

3 0
2 years ago
Suppose that all social programs simultaneously become more generous. In particular suppose that there is an increase in UI bene
Tatiana [17]
  • Increase in unemployment
  • Increase in vacancy rate
  • Decrease in labor force
  • Decrease in # of labor firms
  • Tightening of the labor forces

3 0
3 years ago
Other questions:
  • Sally is not feeling well so her mother takes her to the doctor. The doctor tells her she has strep throat, gives her medication
    11·2 answers
  • Drag the tiles to the correct boxes to complete the pairs.
    7·2 answers
  • To become an architect, you need six years of education. To become a physical therapist, you need two years of education. Which
    11·2 answers
  • Which of the following effects best explains the downward slope of the aggregate demand curve? A. A multiplier effect B. An expe
    5·1 answer
  • A convertible bond has a face value of $5,000, a conversion price of $40, a coupon rate of 6 percent, semi-annual payments, and
    5·1 answer
  • The Federalist party _________.
    11·1 answer
  • Of the following companies, which one would not likely employ the specific identification method for inventory costing?
    14·1 answer
  • The 2017 balance sheet of Kerber's Tennis Shop, Inc., showed long-term debt of $6.4 million, and the 2018 balance sheet showed l
    13·1 answer
  • Great Landscapes Company estimates its doubtful accounts by aging its accounts receivable and applying percentages to various ag
    7·1 answer
  • The Subdivided Lands Act disclosure requirements applies to: any subdivider working with or for the property owner. any licensee
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!