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pav-90 [236]
3 years ago
7

Freedom Inc. has 40 employees within Denver City and County. All of the employees worked a predominant number of hours within th

e city. The employees earned $8.30 per hour and worked 160 hours each during the month. The employer must remit $4.00 per month per employee who earns more than $500 per month. Additionally, employees who earn more than $500 per month must have $5.75 withheld from their pay.
What is the employee and company Occupational Privilege Tax for these employees? (Round your answers to 2 decimal places.)
Business
1 answer:
Paraphin [41]3 years ago
5 0

Answer:

the employee and company Occupational Privilege Tax for these employees is $92.00 and $64.00 respectively

Explanation:

The computation of the  employee and company Occupational Privilege Tax for these employees is shown below:

The Total amount with held from employees is

= 16 × $5.75

= $92.00

And, the total amount to be paid by the employer is

=16 × $4.00

= $64.00

hence, the employee and company Occupational Privilege Tax for these employees is $92.00 and $64.00 respectively

The same is relevant

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Uptown Men's Wear has accounts payable of $2,214, inventory of $7,950, cash of $1,263, fixed assets of $8,400, accounts receivab
Jlenok [28]

Answer:

The value of the net working capital to total assets ratio is 0.5067≅0.51

Explanation:

Given Data:

Accounts payable =$2,214

Inventory= $7,950

Cash=$1,263

Fixed Asset=$8,400

Accounts receivable=$3,907

Long-term debt=$4,200

Required:

The value of the net working capital to total assets ratio=?

Solution:

Net working Capital=Inventory+Cash+Accounts receivable-Accounts payable

Net working Capital= $7,950+$1,263+$3,907-$2,214

Net working Capital= $10,906.

Total assets=Inventory+Cash+Accounts receivable+ Fixed assets

Total assets= $7,950+$1,263+$3,907+$8,400

Total assets=$21,520

Ratio=\frac{Net\ working\ Capital}{Total\ assets}

Ratio=\frac{\$10,906}{\$21,520} \\Ratio=0.5067

The value of the net working capital to total assets ratio is 0.5067≅0.51.

6 0
3 years ago
Smith Corporation has provided the following information: Cash sales totaled $135,000. Credit sales totaled $289,000. Cash colle
klasskru [66]

Answer:

$434,000

Explanation:

The total amount that should be included in the operating income as follows:

1. Cash sales $135,000

2. Credit sales $289,000

3. Gain from the sale of property and the equipment $10,000

Operating income $434,000

hence, the $434,000 should be included in the operating income

3 0
3 years ago
Janelle is very innovative and attentive to detail. As she starts her own company, she leads her employees and ensures that ever
OleMash [197]

Answer: Stage 3- Success stage.

Explanation:

Businesses are different in capacity and size for growth and are characterized by different organization structures, independence of action, and varied management styles.

The success stage is the stage at which companies seek whether to exploit their accomplishments and expand or rather enhance the stability of the company stable and profit. The main issue is to use the firm as an avenue for growth or means of support for the owners as they engage in complete or partial disengagement from the firm. During this stage, as the company grows, employers are more interested in the product and its growth.

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Within her company, maria utilizes a management style that varies according to the individual and environmental situation, with
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3 years ago
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Suppose Sally borrows $1,000 from Harry for one year and agrees to pay a nominal interest rate of 10%. When she borrows the mone
Lynna [10]

Answer:

The expected real interest rate on the loan is 5%.Suppose that when Sally pays back the loan after one year, the actual inflation rate turns out to be 2%. The actual real interest rate on the loan is 8%.

a. If the inflation rate turned out to be higher than expected, then: the real interest rate would be lower than expected.

b. But if inflation turned out to be lower than expected, then: the real interest rate would be higher than expected.

Explanation:

Expected real interest rate = nominal interest rate - expected inflation = 10% - 5% = 5%

Actual interest rate = nominal interest rate - actual inflation rate = 10% - 2% = 8%

8 0
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