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omeli [17]
3 years ago
14

Assuming a FICA tax rate of 7.65% on the first $127,200 in wages, 1.45% on amounts in excess of $127,200, and a federal income t

ax rate of 20% on all wages, what would be an employee's net pay for the year if he earned $206000 for the year
Business
1 answer:
Lelechka [254]3 years ago
7 0

Answer:

$154524

Explanation:

If a federal tax rate is 20% on all wages then we subtract that amount from the total wage of $206000 for the year

20% from $206000 is $41200

$206000 - $41200 = $164800

We have deducted the federal tax rate and got the amount $164800

After we apply the FICA tax rate of 7.65% on the amount $127200 we get

7.65% of $127200 is $9730,8 so the first amount we have to remember is

$127200 - $9370,8 = $117469,2

Regarding the amount that excess $127200 that amount stands at

$164800 - $127200 = $37600

We apply the 1.45% rate to the amount $37600

1.45% of the $37600 is $545,2 so the second amount we have to remember is

$37600 - $545,2 = $37054,8

We now simply add the two calculated amounts

$117469,2 + $37054,8 = $154524

So the net pay for the year is $154524

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Performance Bike Co. is a wholesaler of motorcycle supplies. An aging of the company's accounts receivable on December 31 and a
maw [93]

Answer:

$36,648

Explanation:

age                                      balance     % uncollectible           total

Not past due                   $890,000               3/4%                 $ 6,675

1-30 days past due           $97,900                   2%                   $ 1,958

31-60 days past due         $44,500                   6%                  $2,670

61-90 days past due         $32,000                 16%                  $ 5,120

91-180 days past due         $23,100                40%                 $ 9,240

<u>Over 180 days past due    $16,900                65%                $10,985  </u>

Total                                  $1,104,400                                    $36,648

journal entry should be:

December 31, 202x, bad debt expense

Dr Bad debt expense 36,648

    Cr Allowance for doubtful accounts 36,648

8 0
3 years ago
Why might you choose an investment with high risk instead of one with low risk?
NeX [460]

The reason of choosing of investment with high risk instead of one with low risk because the high risks stocks, bonds are having more returns as compared to low risks,  especially long term stocks.

<h3>What is high risk investment?</h3>

High risk investment is the one who have high chance of loss of capital or under-performance or have a great percentage of amount invested in some stocks.

Some high risk investments are Cryptocurrency, Individual Stocks, Initial Public Offerings, Venture Capital or Angel Investing, Real Estate and others.

Thus, The reason of choosing of investment with high risk instead of one with low risk

For more details about high risk investment, click here:

brainly.com/question/27627260

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8 0
2 years ago
Complete the sentence. "When a market failure arises because marginal social benefit exceeds the ability and willingness to​ pay
pochemuha

Answer:

The correct answer is option C.

Explanation:

Market failure refers to the situation when the market is not able to efficiently allocate resources and the government has to intervene. Market failure generally happens because of the presence of externalities.  

When the marginal social cost is greater than the ability and willingness to pay, the market will fail to optimally allocate resources. The government, as a result, will intervene.  

The government will use vouchers which will cause the marginal private benefit curve to shift upwards by the size of the per-unit voucher.

6 0
2 years ago
Define the mergers and acquisitions of Tesla and define what has the company gained?
Phoenix [80]
Tesla has made 6 acquisitions and 2 investments. The company has spent over $ 2.82B for the acquisitions. Tesla has invested in multiple sectors such as Energy Storage Tech, Autonomous Vehicles and more.

It confirms that Hibar and Deepscale were relatively small acquisitions for Tesla.

Deepscale appears to be mostly what some people call “acqui-hire,” and the people who join Tesla probably got a bunch of shares.

As for Maxwell, which was a $207 million acquisition, and Hibar, which had to be less than $96 million, I think those two acquisitions combined is a somewhat inexpensive way to supercharge their now obvious move into manufacturing their own battery cells.

Again, we expect to hear more about Tesla’s effort to invest heavily into its own battery cell production in the next few months.

Tesla has acquired 6 companies, including 3 in the last 5 years. A total of 2 acquisitions came from private equity firms.

Tesla’s largest acquisition to date was in 2016, when it acquired SolarCity for $2.6B. Tesla has acquired in 3 different US states, and 2 countries. The Company’s most targeted sectors include machinery (34%) and automotive (17%).

Join Mergr and gain access to Tesla’s M&A summary, the M&A summaries of companies just like it, as well as recent M&A activity in the automotive sector.

M&A SUMMARY
M&A Total Activity6
M&A Buy Activity6
Total Sectors Invested 5
Total Countries Invested 2
M&A Buy/Sell Connections 2
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5 0
2 years ago
An offer is made to sell a house, and the offeree has deposited an acceptance letter in the mailbox, but it has not been receive
mash [69]

Answer:

False

Explanation:

As the contract was formed when the offeree has deposited acceptance letter in the mailbox, hence the offeror is bond to sell the house.

4 0
3 years ago
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