Although you did not includes the salaries of the employees, it will be simple for you to calculate. FICA is the Federal Insurance Contributions Act, which is made up of social security and Medicare fees. For 2019, the Social Security tax rate is 6.2% on the first $132,900 wages paid. The Medicare tax rate is 1.45% on the first $200,000 and 2.35% above $200,000.
So, for every employee who earned $132,900 or less, it is calculated by multiplying the total earnings by 7.65% (6.2% social security +1.45% Medicare).
For all earnings that are between more than $132,900 and $200,000, it is calculated by multiplying the total earnings by 1.45%. (Medicare)
All earnings above $200,000 are taxed at 2.35% (Medicare).
After calculating each of the people, you will add up the total. The employer matches each of the contributions, so they are the exact same as the total of the employees.
Answer:
Equipment $ 16,216 (debit)
Note Payable $ 16,216 (credit)
Explanation:
The Present Value of the Note is used as the measurement Cost of the Equipment
From this value we would subsequently calculate the depreciation as the equipment is being used.
The Note Payable will be amortised over three years to reflect the Carrying amount of the Liability
Answer:
The correct answer is letter "D": tend to be logical, analytical, and action oriented.
Explanation:
Low-context cultures prefer clear explanations at the moment of doing business. They are characterized for being specific and based on past facts at the moment of starting a new venture. Among low-context cultures, we can identify the United States, Canada, and Western Europe.
Answer:
Current multi factor productivity for 640 work hours per month is 0.24 loaf/dollar
Explanation:
Employees are being paid $8 per hour,
Constant utility cost per month will remain same as $600
and loaf ingredient cost $0.35/loaf
Current multi factor productivity for 640 work hours per month is 0.24 loaf/dollar
640 hours * $8/hour = $5,120
1500 loaves * $0.35 = $525
$5,120 + $525 + $600 = $6,245
= 1500 loaves / $6,245
=0.24 loaf/dollar
Answer:
A. The value of the preferred stock is $77.78 per share