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3 years ago

The following information about the payroll for the week ended December 30 was obtained from the records of Pharrell Co.:

Business

1 answer:

hram777 [196]3 years ago

5 0

Answer:

1) December 30, 202x, wages expense

Dr Wages expense 777,000

Cr Federal income taxes withheld payable 135,975

Cr OASDI taxes withheld payable 46,620

Cr Medicare taxes withheld payable 11,655

Cr Retirement savings (401k) payable 17,094

Cr Group insurance payable 11,655

Cr Wages payable 551,670

December 30, 202x, payroll tax expense

Dr OASDI taxes expense 46,620

Dr Medicare taxes expense 11,655

Dr FUTA taxes expense 240

Dr SUTA taxes expense 2,160

Cr OASDI taxes payable 46,620

Cr Medicare taxes payable 11,655

Cr FUTA taxes payable 240

Cr SUTA taxes payable 2,160

2) December 30, 202x, wages expense

Dr Wages expense 777,000

Cr Federal income taxes withheld payable 135,975

Cr OASDI taxes withheld payable 46,620

Cr Medicare taxes withheld payable 11,655

Cr Retirement savings (401k) payable 17,094

Cr Group insurance payable 11,655

Cr Wages payable 551,670

January 5, 202y, payroll tax expense

Dr OASDI taxes expense 46,620

Dr Medicare taxes expense 11,655

Dr FUTA taxes expense 4,662

Dr SUTA taxes expense 41,958

Cr OASDI taxes payable 46,620

Cr Medicare taxes payable 11,655

Cr FUTA taxes payable 4,662

Cr SUTA taxes payable 41,958

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Paula, a single woman, transferred $2,000,000 to a GRAT naming her two sons as the remainder beneficiaries, while retaining an a

Lelechka [254]

Answer:

$1,140,000

Explanation:

A grantor retained annuity trust (GRAT) is used to lower taxes on financial gifts. After a certain time (it is not specified in the question) Paula's sons will receive the money left in the GRAT tax free.

To calculate Paula's taxable gift we have the total GRAT value minus the value of the annuity she retained for herself:

$2,000,000 - $860,000 = $1,140,000

5 0

4 years ago

Find the mean, median and mode for the above set of data

qwelly [4]

Answer:

a. Mean = 35.2 ≈ 35

b. Median = 35.6 ≈ 36

c. Mode = 36.6 ≈ 37

Step-by-step Explanation:

==>Given:

Class of ages in yrs

No. of cases of each class = f

Midpoint of each class = x

Product of midpoint and no. of cases of each class = fx

==>Required:

a. Mean

b. Median

c. Mode

==>SOLUTION:

a. Mean = (Σfx)/Σf

Σf = sum of no. of cases = 5+10+20+22+13+5 = 75

Σfx = 47.5+195+590+869+643.5+297.5 = 2,642.5

Mean = 2,642.5/75 = 35.2 ≈ 35

b. Median = Lm + [((Σf/2) - Cfb)/fm]Cw

Our median is between the 37th and the 38th term, which can be found in the class interval 35-44. This is our median class.

Lm = Lower class boundary of the median class = lower limit of the Medina class + upper limit of the class before the median class ÷ 2 = (35+34)/2 = 34.5

Σf/2 = 75/2 = 37.5

Cfb = Cumulative frequency of class before the median class = 5+10+20 = 35

fm = frequency of the Medina class = 22

Cw = Class width = upper class boundary - lower class boundary = 44.5-34.5 = 10

Median = 34.5 + [(37.5-35)/22] × 10

= 34.5 + [2.5/22] × 10

= 34.5 + [25/22]

= 34.5 + 1.1

= 35.6 ≈ 36

c. Mode = Lm + [∆¹/(∆¹+∆²)]Cw

Modal class = (35-44) [i.e. the class with the highest frequency, which is where our mode falls in]

Lm = lower class boundary of the modal class = lower limit of the modal class + upper limit of the class before the modal class ÷ 2 = (35+34)/2 = 34.5

∆¹ = difference between the frequency of the modal class & the frequency of the class before the modal class = 22 - 20 = 2

∆² = difference between the frequency of the modal class & the frequency of the class after the modal class = 22 - 13 = 9

Cw == Upper class boundary - Lower class boundary = 44.5 - 34.5 = 10

Mode = 34.5 + [2/(2+9)] × 10

= 34.5 + [2/11] × 10

= 34.5 + [20/11]

= 34.5 + 1.8

Mode = 36.6 ≈ 37

8 0

3 years ago

You are considering purchasing a house in Collin County that costs $350,000. You are debating whether to finance the house for 1

Dennis_Churaev [7]

Answer:

Explanation:

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3 years ago

A teacher is purchasing supplies for the classroom and has three discounts to apply to the purchase one at a time. First discoun

Vesnalui [34]

The teacher will pay $143.18

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3 years ago

Amy and Mack Holly from Rapid City, South Dakota, have been married for three years. They recently bought a home costing $212,00

mihalych1998 [28]

Answer:

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Explanation:

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3 years ago