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hichkok12 [17]
4 years ago
13

Bonnie claims single with 2 federal withholding allowances, and contributes state tax of 20% of her federal tax. Below is a copy

of Bonnie's biweekly statement of earnings. Bonnie knows that her gross earnings and federal tax are correct, but she thinks that her net pay is not correct. Using the fact that Social Security is 6.2% and Medicare is 1.45% of gross pay, explain why the given net pay is not correct. Determine how the error can be corrected, and what the net pay should be.
Business
2 answers:
lorasvet [3.4K]4 years ago
6 0

Answer:

The given net pay is not correct because Medicare is not 1.45% of her gross pay. The Medicare should be $11.02, making the correct net pay $641.86.

kolezko [41]4 years ago
5 0

Answer:

The amount of Medicare tax has been calculated incorrectly. The Medicare tax should be $11.02, not $110.20. The actual net pay should be $641.86.

Explanation:

From Ed. :)

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arlik [135]
The right answer for the question that is being asked and shown above is that: • • Mega Mart is a “dog.” A business unit is considered a dog is when the market growth rate is low and the relative market share is also low. 

Business unit that has grown very slowly.
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8 0
3 years ago
The residents of Bucktown, Illinois, place their trash at the curb each Wednesday morning to be picked up by Municipal Crews. Ex
svetoff [14.1K]

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We stock up the local trash collection capacity.Cost of overstocking by 1 ton =MC = 625/5 = $125Cost of understocking by 1 ton = additional cost of using outside trash pick up = MB = $650-$125 = $5

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8 0
3 years ago
Charles, the president of an IT company, is friends with Levi, the CEO of Cyber Industries, a company that develops and manufact
Akimi4 [234]

Answer: Option A

 

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In the given case, Levi deceited Charles by making him believe of a strategy that may or may not exist in his organisation. Thus, he will pay charles from the money that he will gain from the market after the announcement of the new processor.

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7 0
3 years ago
Which of the following should not be recorded in income and expenditure account?
kirill [66]

Answer:

C. honorarium paid to the secretary

Explanation:

6 0
3 years ago
At the beginning of 2021, Artichoke Academy reported a balance in common stock of $153,000 and a balance in retained earnings of
salantis [7]

Answer:

STOCKHOLDERS EQUITY

                                                  Common               Retained      Stockholders

                                                      stock                 earnings        equity

Beginning balance January 1      153.000              53.000          206.000

Issuance of common stock           43.000                                      43.000

Net income for the period                                        33.000           33.000

Cash Dividens                                                           (10.300)          (10.300)

Ending balances December 31   196.000              75.700 271.700

BALANCE SHEET

Cash                    52.900

Supplies               11.200

Prepaid Rent       25.500

Land                   215.000

Total Assets      304.600

Account payable    8.100

Utilities payable      3.000

Salaries payable     3.800

Notes payable      18.000

Total liabilities      32.900        

         

Common stock      196.000

Retained earnigs    75.700

Total stockholders 271.700

Liablities and

Stockholders          304.600        

Explanation:

STOCKHOLDERS EQUITY

                                                  Common               Retained      Stockholders

                                                      stock                 earnings        equity

Beginning balance January 1      153.000              53.000          206.000

Issuance of common stock           43.000                                      43.000

Net income for the period                                        33.000           33.000

Cash Dividens                                                           (10.300)          (10.300)

Ending balances December 31   196.000              75.700 271.700

BALANCE SHEET

Cash                    52.900

Supplies               11.200

Prepaid Rent       25.500

Land                   215.000

Total Assets      304.600

Account payable    8.100

Utilities payable      3.000

Salaries payable     3.800

Notes payable      18.000

Total liabilities      32.900        

         

Common stock      196.000

Retained earnigs    75.700

Total stockholders 271.700

Liablities and

Stockholders          304.600        

6 0
3 years ago
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