1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Reil [10]
3 years ago
13

Karen Wilson and Katie Smith are looking at the company's health care options and trying to determine how much their net pay wil

l decrease if they sign up for the qualified cafeteria plan offered by the company. Karen, a married woman with four exemptions, earns $2,250 per biweekly payroll. Katie, a single woman with one exemption, also earns $2,075 per biweekly payroll. The biweekly employee contribution to health care that would be subject to the cafeteria plan is $115.
Required:


Compute the taxable income for Karen and Katie.



Karen’s taxable income if she declines to participate in the cafeteria plan: _____


Karen’s taxable income if she participates in the cafeteria plan: _____


Katie’s taxable income if she declines to participate in the cafeteria plan: _____


Katie’s taxable income if she participates in the cafeteria plan:______
Business
1 answer:
Rufina [12.5K]3 years ago
7 0

Answer:

Without cafeteria plan Karen taxable income is 2250 dollars and with cafeteria plan the taxable income is $2135.

Without cafeteria plan Katie taxable income is 2075 dollars and with cafeteria plan the taxable income is $1960.

Explanation:

A married women Karen earns = $2250

Katie single women earn = $2075

Employee contribution to health care = $115

If the Karen decline to participate in the cafeteria then her taxable income is $2250 (wages).

If the Karen accept to participate in the cafeteria then her taxable income is $2250 - $115 (contribution) = $2135

If Katie declined to participate in the cafeteria then her taxable income is $2075 (wages).

If Katie accept to participate in the cafeteria then her taxable income is $2075 - $115 (contribution) = $1960

You might be interested in
A firm has $800 in inventory, $1,400 in fixed assets, $500 in accounts receivables, $100 in net working capital, and $50 in cash
Alex777 [14]

Answer:

Add it all Together?

Explanation:

2850?

3 0
2 years ago
Which of the following careers is most likely to require business skills? a)Systems Analyst b)Hardware Engineer c)Software Engin
mezya [45]

Answer:

System Analysis

Explanation:

5 0
3 years ago
Read 2 more answers
Two guys walk into a bar; the third one ducks. If these three men acted independently, and the probability is 0.7 that a person
allsm [11]

Answer:

0.063

Explanation:

Given

Probability of a person to not enter into a bar or ducking   is 0.7

Probability of a person to  enter into a bar  

1 - (Probability of a person to not enter into a bar or ducking)

Substituting the given value, we get

Probability of a person to enter into a bar  

= 1 - 0.7 \\= 0.3

Total three men attempts to enter into the bar and their course of action is independent of each others

Thus, probability of observing the first two walking into the bar and the third ducking will be equal to the product of individual probabilities

= 0.7 * 0.3 * 0.3\\= 0.063

7 0
3 years ago
"Trade raises the economic well-being of a nation in the sense that the gains of the winners exceed the losses of the losers." T
kondaur [170]

Answer:

B) False

Explanation:

Trade usually benefits all the nations involved. We can use an extreme example, Chinese-American trade. America has a huge trade deficit with China, but still the whole country benefits from it. America lost some manufacturing jobs, but they have been replaced by higher paying service related jobs (currently service related jobs account for more than 70% of the total jobs in America).

And more important, American citizens are able to buy very good and cheap products from China and other places. Imagine if we had to pay for only domestic products, we would spend a much larger portion of our income in them.

8 0
3 years ago
Use a well labelled graph to explain why the introduction of maximum prices in the petrol industry will not be an ideal decision
-Dominant- [34]

A country's economy will go on a decline if there is a hyperinflation in the petrol prices.

<h3>What is hyperinflation?</h3>

Extreme increase in prices in a very short span of time is regarded as the condition of hyperinflation. If there is hyperinflation in the petrol prices, its demand will be lowered and people will look for substitutes.

Thus, increase or hyperinflation in the petrol prices will lead to declining of a country's economy and will not serve as a wise decision.

Learn more about hyperinflation here:

brainly.com/question/22313119

#SPJ1

5 0
2 years ago
Other questions:
  • Belle Co. has beginning inventory of 12 sets of paints at a cost of $1.50 each. During the year, the store purchased 7 at $3.00,
    6·2 answers
  • financial calculator Bruno's Lunch Counter is expanding and expects operating cash flows of $23,900 a year for 5 years as a resu
    13·1 answer
  • Waterproof Roofing Company has provided the following​ information:
    14·1 answer
  • Select the answer that most accurately describes the effects of NAFTA.
    11·2 answers
  • 6. Describe at least 5 skills or characteristics you could develop while working for someone else
    10·1 answer
  • Inflation is steadily increasing price levels.<br><br> Question 4 options:<br> True<br> False
    14·1 answer
  • Every year, 7 Days, a large retail chain, organizes a large annual function in which it gives an "Employee of the Year" award to
    14·2 answers
  • Which of the following is the reason behind the slow growth in U.S. incomes during the 1970s and 1980s?
    12·1 answer
  • Technology can either shift the labor demand to the right or to the left, depending on its effect on the marginal product of lab
    15·2 answers
  • Teenage workers are assumed to have ________ labor supply, therefore a 5% increase in wage would result in ________ percentage c
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!