All categories

3 years ago

When working in the gig economy, what statement is true regarding your payroll taxes?

Business

1 answer:

juin [17]3 years ago

6 0

Answer:

c. You only have to pay half of your payroll taxes for Social Security but not for Medicare

Explanation:

This is true due to the fact that, payroll taxes is exempted from medicare as a result of the individual medicare subscription of the employees. On the other hand, there is need for them to pay social security taxes towards the provision of the social amenities to the citizens.

You might be interested in

Which of the following statements regarding special journals is not true? a. Special journals provide a specialized format for r

den301095 [7]

Answer:

The correct answer is

c. The balances in a special journal must always reconcile to the general ledger.

good luck

4 0

3 years ago

The Smith Company manufactures insulated windows. Costs for March were as follows. Direct labor $53,000 Indirect labor 18,000 Sa

Marat540 [252]

Answer:

$27,000

Explanation:

The following costs were incurred by Smith's company during the month of March

Direct labor $53,000

Indirect labor 18,000

Salary of corporate vice president for advertising 25,000

Direct materials 48,000

Indirect materials 4,000

Interest expense 7,500

Salary of factory supervisor 3,000 Insurance on manufacturing equipment 2,000

Therefore the actual manufacturing overhead for March can be calculated as follows

= Indirect labour + indirect materials + salary of factory supervisor + insurance on manufacturing equipments

= $18,000 + $4,000 + $3,000 + $2,000

= $27,000

Hence the actual manufacturing overhead for March is $27,000

8 0

3 years ago

Government actions taken to mange a country’s money supply are called ————-policy

elena55 [62]

Answer:

Government actions taken to mange a country’s money supply are called ——Monetary——-policy

8 0

3 years ago

Read 2 more answers

On June 1, 2015, Ivanhoe Company and Shamrock Company merged to form Bridgeport Inc. A total of 752,000 shares were issued to co

kompoz [17]

Solution:

a-1) Calculation of the number of shares used for calculating Basic Earning per share

No. of shares period

752000 3/12 188000

1314000 9/12 985500

Weighted average No of shares outstanding 1173500

a-2) Calculation of the number of shares used for calculating Diluted Earning per share

No. of shares period

752000 3/12 188000 1314000 3/12 328500 with Bonds 1340400 6/12 670200

Weighted average No of shares outstanding 1186700

Each bonds to per converted into 44 common stock

i.e. 600 Bonds *44 common=26400 Potential equity shares

b-1) Calculation of earning figures to be used for calculating Basic Earning per share

After Tax net Income will be earnings = $1614000

b-2) Calculation of earning figures to be used for calculating Diluted Earning per share

After tax net Income 1614000

Interest for the 2017 =600000*7*6/12 21000

Tax effect on Interest @40% 8400 12600 1626600

Earnings = 1626600

7 0

3 years ago

Consider Pacific Energy Company and Atlantic Energy, Inc., both of which reported earnings of $961,000. Without new projects, bo

lys-0071 [83]

Answer:

A. 7.14

B. 7.96

C.8.71

Explanation:

A. Calculation for the the current PE ratio for each company

First step is to find the market value of the stock using this formula

Market value of stock=Earnings/Return percentage

Let plug in the formula

Market value of stock =$961,000/0.14

Market value of stock =6,864,285

Last step is to find the current PE ratio for each company using this formula

Current PE ratio=Market value of stock/Earnings

Let plug in the formula

Current PE ratio=6,864,285/$961,000

Current PE ratio=7.14

Therefore the Current PE ratio is 7.14

B. Calculation for the new PE ratio of the company

First step is to find the market value of the stock using this formula

Market value of stock =(Earnings+Additional earnings) /Return percentage

Let plug in the formula

Market value of stock =($961,000+$111,000) /0.14

Market value of stock=$1,072,000/0.14

Market value of stock=7,657,142

Last step is to find the new PE ratio of the company using this formula

New PE ratio=Market value of stock/Earnings

Let plug in the formula

New PE ratio=7,657,142/$961,000

New PE ratio=7.96

Therefore the New PE ratio is 7.96

C.Calculation for the new PE ratio of the firm

First step is to find the market value of the stock using this formula

Market value of stock =(Earnings+Increase in earnings) /Return percentage

Let plug in the formula

Market value of stock =($961,000+$211,000) /0.14

Market value of stock=$1,172,000/0.14

Market value of stock=8,371,428

Last step is to find the new PE ratio of the company using this formula

New PE ratio=Market value of stock/Earnings

Let plug in the formula

New PE ratio=8,371,428/$961,000

New PE ratio=8.71

Therefore the New PE ratio is 8.71

7 0

3 years ago