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
Zepler [3.9K]
3 years ago
12

Brent is a full-time exempt employee in Clark County, Indiana. He earns an annual salary of $39,360 and is paid semimonthly. He

is married with 3 withholding allowances. His state income tax is $52.97, and Clark County income tax is $29.52 per pay period. What is the total of FICA, Federal, state, and local deductions per pay period, assuming no Pre-Tax Deductions
Business
1 answer:
serious [3.7K]3 years ago
3 0

Answer:

  • Federal Income tax ⇒ $80
  • FICA ⇒ $125.46
  • State income tax ⇒ $52.97
  • Local deduction - Clark County Income tax ⇒ $29.52

Explanation:

Brent gets paid semi-monthly so his pay per period is:

= 39,360 / (12 months *2)

= $1,640

Based on the table therefore, his federal tax is:

= $80

This figure is based on the intersection between income of $1,640 and 3 withholding allowances.

FICA tax rate is 7.65% so his FICA tax is:

= 1,640 * 7.65%

= $125.46

State income tax = $52.97

Local deduction - Clark County Income tax = $29.52

Total deductions:

= Federal tax + FICA + State income tax + Clark County income tax

= 80 + 125.46 + 52.97 + 29.52

= $287.95

You might be interested in
is creating a vision for the organization and guiding, training, coaching, and motivating others to work effectively to achieve
Rama09 [41]

By setting a vision for the organisation, a leader can inspire and motivate others to work toward shared goals and objectives. Controlling entails determining if the organization's objectives are met by what really happens.

Creating a vision for the organisation and directing, educating, mentoring, and inspiring others to work productively to meet the organization's goals and objectives on schedule is what it means to LEAD.

In a learning organisation, what is vision?

An organization's vision is what it hopes to become and accomplish in the future. The Vision is crucial since it is intertwined with all other organisational strategy components.

A company's mission statement, goals, and aspirations are all outlined in a vision statement. The majority of vision statement writers find the process to be satisfying and motivating. It gives them the ability to describe the traits that affect the strategy of the firm.

Learn more about learning organisation

brainly.com/question/14820782

#SPJ4

8 0
1 year ago
Mega Corporation repurchased 1,000 shares of its $1 par value common stock for $8,000. The effect of this transaction on the acc
Nitella [24]

Answer:

Explanation:

Since in the question the shares are repurchased which impact the accounting equation in a negative manner

Accounting equation would be

Total assets = Total liabilities + Stockholder equity

The assets are decreased as it reduces the balance of cash account as well as it reduced the stockholder equity also by the same amount

4 0
4 years ago
What is scarcity? And give one example of scarcity <br><br><br><br> GUYS HELP MEE PLSSSS
Sati [7]
The state of being scarce or in short supply; shortage:

An example is scarcity of rain is drought. 
3 0
3 years ago
Read 2 more answers
For the Dividend Growth Model, the equation can be written as follows: P0 = =D1/(RE – g). How can this equation be rearranged?
zmey [24]

Answer:

C) RE = D1/P0 + g

Explanation:

The formula above is the cost of retained earnings or the cost of equity.

The first portion of the formula (D1/P0) is known as dividend yield which is simply dividend divided by price.

The second part(g) is known as the growth rate of dividends.

The initial formula is rearranged thus:

P0=D1/(RE – g)

P0*(RE – g)=D1

RE – g=D1/P0

RE=D1/P0+g

4 0
3 years ago
A store offers two payment plans. Under the installment plan, you pay 25% down and 25% of the purchase price in each of the next
aev [14]

Answer:

a-1. The present value of Plan 1 = $93.08

a-2. The deal 2 which involves paying immediately adn taking the 10% discount is better.

Explanation:

a-1.

The interest rate of 5% is taken as the discount rate to convert future cash flows into the present value.

The First payment plan with installments has a present value of,

Present Value-Plan 1 = 25 + 25/1.05 + 25/1.05² + 25/1.05³ = $93.08

a-2.

The first plan will cost $93.08 in the present value.

The second plan will involve immediate payment and a discount of 10%vwhch makes the present value of plan 2 as $90 (100 - (100*0.1)).

Thus, the second deal or deal involving immediate payment and taking the discount is better.

6 0
3 years ago
Other questions:
  • Free-market economies have _____ .
    14·2 answers
  • Veronica owns a home, and when her children went to college, she was looking for a way to help finance their education. She went
    14·2 answers
  • The type of cover letter written to request assistance and support from the author’s job network:
    6·1 answer
  • The following is a listing of some of the balance sheet accounts and all of the income statement accounts for Orange Company as
    5·1 answer
  • The September 30 bank statement for Cadieux Company and the September ledger account for cash are summarized here: BANK STATEMEN
    7·1 answer
  • Harry was unable to complete a task assigned to him by his superior. He also refused to work overtime. Consequently, Harry's sup
    11·1 answer
  • Hazel transferred the following assets to Starling Corporation: Adjusted Basis Fair Market Value Cash $120,000 $120,000 Machiner
    7·1 answer
  • Match each type of tax with an example of its use.
    7·1 answer
  • Q OB10.9: One of the most common reasons for conflict in an organization is
    13·1 answer
  • Company manufactures luggage sets. sells its luggage sets to department stores. expects to sell luggage sets for each in and lug
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!