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3 years ago

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The social security deduction is 6.2 percent of a person's salary up to a limit of 102k the medicare deduction ais up to 1.45 pe

rcent of a person's salary with no limit gabriel earned 175k last year find the amount of his social security and medicare deduction for the year

1 answer:

Fed [463]3 years ago

6 0

Answer:

fghjkl

Explanation:

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You want to buy a new sports coupe for $75,500, and the finance office at the dealership has quoted you a 7.9 percent APR loan f

MAVERICK [17]

Answer:

$1,295.03

Explanation:

To find the answer, we will use the present value of an annuity formula:

PV = A ( 1 - (1 + i)^-n) / i

Where:

PV = Present Value of the investment (in this case, the value of the loan)
A = Value of the Annuity (which will be our incognita)
i = interest rate
n = number of compounding periods

Now, we convert the 7.9 APR to a monthly rate. The result is a 0.6% monthly rate.

Finally, we plug the amounts into the formula, and solve:

75,500 = A (1 - (1 + 0.006)^-72) / 0.006

75,500 = A (58.3)

75,500 / 58.3 = A

1,295.03 = A

Thus, the monthly payments of the car loan will be $1,295.03 each month.

8 0

4 years ago

The following are the typical classifications used in a balance sheet:

goldfiish [28.3K]

Answer:

<u>a. Current assets</u>

Allowance for uncollectable accounts

Inventories

Prepaid rent for next 9 months

Cash

<u>b. Investments and funds </u>

Investment in xyz corporation

<u>c. Property, plant, and equipment </u>

Equipment

Land in use

Building in use

<u>d. Intangible assets </u>

Patents

<u>e. Other assets</u>

Land held for investment

<u>f. Current liabilities</u>

Accounts payable

Deferred rent revenue for the next 12 months

Notes payable due in 6 months

Accrued liabilities

Taxes payable

<u>g. Long-term liabilities</u>

Notes payable due in 5 years

<u>h. Paid-in-capital</u>

Common stock

<u>i. Retained earnings</u>

Income less dividend accumulated

Explanation:

A Balance Sheet shows the balances of Assets, Liabilities and Equity as at the reporting date.

Assets

There are two major asset categories which are Current Assets and Non- Current Assets. Current Assets are assets not exceeding 12 months examples are Inventories and Cash. Whilst Non-Current Assets are assets exceeding a period of 12 months examples are Property, Plant and Equipment items such as Land, Investments and Intangible Assets

Liabilities

There are two major asset categories which are Current Liabilities and Non- Current Liabilities. Current Liabilities are liabilities due to be paid within a period not exceeding 12 months examples are Accrued liabilities and Accounts payable. Whilst Non-Current Liabilities are assets liabilities payable in a period exceeding 12 months examples are Notes payable due in 5 years.

Equity

We have Paid In Capital such as Common Stock and Retained Earnings comprising of Profits and dividends.

Classification of items as will be shown in the balance sheet will be done as above.

3 0

3 years ago

During the current period, Department A finished and transferred 50,000 units to Department B. Of the 50,000 units, 20,000 were

antoniya [11.8K]

Answer:

A. $1,615

Explanation:

Provided information,

Total transferred units = 50,000

Opening units = 20,000 which were 1/5 th complete

Equivalent units = 4,000

That means on the remaining 20,000 - 4,000 = 16,000 units full overheads were applied.

30,000 units were started and completed during the month, for which entire overheads will be added.

Newly started = 10,000 units 3/5th complete = 6,000 units completed in closing inventory.

Therefore total equivalent completed units on which overheads applied = 16,000 + 30,000 + 6,000 = 52,000 units

Ending goods in inventory = 10,000 units which are 6,000 equivalent units completed

Total overheads for the month = $14,000

Overheads = $14,000/52,000 = 0.269 per unit

For 6,000 units = $1,615 .38

Therefore correct option is

A. $1,615

8 0

3 years ago

If a corporate bond is issued with a coupon rate that varies directly with the required return, the price of the bond will

dedylja [7]

The answer to this question is that the price of the bond will be equal to the face value.

<span>Bonds are type of investments in which the investor can receive money on the investment with a fixed interest. Bonds are also known as fixed income securities. This type of investment is less risky because the insurer will return the face value of the investment and interest from the investment is in a fixed rate.</span><span> </span>

4 0

3 years ago

Indicate the missing amount for each letter (a) through (i). Case A Case B Case C Direct materials used $ (a) $72,720 $131,700 D

Mars2501 [29]

Answer:

Case A Case B Case C

Direct materials used $ 91,200 $72,720 $131,700

Direct labor 59,280 90,560 18,500

Manufacturing overhead 49,120 82,680 105,500

Total manufacturing costs 199,600 245,960 255,700

Work in process 1/1/20 26,710 17,110 84,200

Total cost of work in process 226,310 263,070 339,900

Work in process 12/31/20 37,910 13,240 71,550

Cost of goods manufactured 188,400 249,830 268,350

Explanation:

Given:

Case A Case B Case C

Direct materials used $ (a) $72,720 $131,700

Direct labor 59,280 90,560 (g)

Manufacturing overhead 49,120 82,680 105,500

Total manufacturing costs 199,600 (d) 255,700

Work in process 1/1/20 (b) 17,110 (h)

Total cost of work in process 226,310 (e) 339,900

Work in process 12/31/20 (c) 13,240 71,550

Cost of goods manufactured 188,400 (f) (i)

Therefore, we have:

<u>Case A</u>

a. Direct materials used = Total manufacturing costs - Direct labor - Manufacturing overhead = 199,600 - 59,280 - 49,120 = 91,200

b. Work in process 1/1/20 = Total cost of work in process - Total manufacturing costs = 226,310 - 199,600 = 26,710

c. Work in process 12/31/20 = Total cost of work in process - Cost of goods manufactured = 226,310 - 188,400 = 37,910

<u>Case B</u>

d. Total manufacturing costs = Direct materials used + Direct labor + Manufacturing overhead = 72,720 + 90,560 + 82,680 = 245,960

e. Total cost of work in process = Total manufacturing costs + Work in process 1/1/20 = 245,960 + 17,110 = 263,070

f. Cost of goods manufactured = Total cost of work in process - Work in process 12/31/20 = 263,070 - 13,240 = 249,830

<u>Case C</u>

g. Direct labor = Total manufacturing costs - Direct materials used - Manufacturing overhead = 255,700 - 131,700 - 105,500 = 18,500

h. Work in process 1/1/20 = Total cost of work in process - Total manufacturing costs = 339,900 - 255,700 = 84,200

i. Cost of goods manufactured = Total cost of work in process - Work in process 12/31/20 = 339,900 - 71,550 = 268,350

4 0

3 years ago