Answer:
The correct answer for option (a) is $3,080 and for option (b) is $2,141.
Explanation:
(a). Current pay = $44
After 40 hours, Pay = $44 × 1.5 = $66
So, we can calculate the gross pay by using following formula:
Gross pay = (40 hours × $44 ) + (20 hours × $66)
= $1,760 + $1,320
= $3,080
(b).
Security Tax = Gross pay × 6% = $3,080 × 6% = $184.8
Medicare Tax = Gross pay × 1.5% = $3,080 × 1.5% = $46.2
Federal Income Tax = $708
So, we can calculate the net pay by using following formula:
Net Pay = $3,080 - $184.8 - $46.2 - $708
= $2,141
Answer and Explanation:
The Journal entry is shown below:-
Carter's Capital Dr $600,000
To Able's Capital $450,000 (3 ÷ 4 × $600,000)
To Baker's Capital $150,000
(Being Carter’s withdrawal from the partnership is recorded)
For recording this we debited the carter capital as it shows the withdrawn amount and credited the able capital and baker capital so that the total withdrawn collected from these partners could come
Answer:
For a company using target costing, market price minus profit equals target cost and not target price.
The correct answer is False
Explanation:
Target cost is the excess of market price over target profit margin. In target costing, the company does not fix the selling price because selling price is determined by the market.
The microeconomic factors that are important to consider in business is competition, the supply and demand, elasticity of the goods and similar variables. Depending on the business, each has factor has a unique impact which can either help or ruin the business.Thank you for your question. Please don't hesitate to ask in Brainly your queries.
The most Sheldon should pay in one calendar year is $9,750
Deductible is a term used in Insurance. The amount of deducible refrain the Insurer from liability until a certain level of liability is reached.
Given that :
Premium = $250
Deductible = $3500
Maximum out-of-pocket expenses = $6000.
Then, the maximum he should pay in one calendar year is:
= $250 + $3,500 + $6,000
= $9,750
Therefore, the maximum he should pay in one calendar year is $9,750
Learn more about insurance plan here : brainly.com/question/25676329
