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3 years ago

8

Assuming a FICA tax rate of 8% on the first $100,000 in wages, and a federal income tax rate of 20% on all wages, what would be

an employee's net pay for the year if he earned $120,000 for the year?

1 answer:

blondinia [14]3 years ago

3 0

Answer:

the answer is c

Explanation:

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In economics, the best definition of technology is: A. the speed of communication. B. the development of new products. C. the p

luda_lava [24]

Answer:

C

Explanation:

4 0

3 years ago

Trinkle Co., Inc. made several purchases of long-term assets in Year 1. The details of each purchase are presented here.

Orlov [11]

Answer:

New Office Equipment $42,863

Basket Purchase Of Copier, Computer, Scanner $61,500

Land For New Warehouse $310,050

Explanation:

Calculation to determine the amount of cost to be capitalized in the asset accounts

NEW OFFICE EQUIPMENT

Amount of cost to be capitalised in the asset accounts = $41,900*0.98+$860+$510+$431

Amount of cost to be capitalised in the asset accounts =$41,062+$860+$510+$431

Amount of cost to be capitalised in the asset accounts =$42,863

BASKET PURCHASE OF COPIER, COMPUTER AND SCANNER

Amount of cost to be capitalised in the asset accounts = $22,755 + $6,765 + $31,980

Amount of cost to be capitalised in the asset accounts= $61,500

LAND FOR NEW WAREHOUSE with an old building torn down

Amount of cost to be capitalised in the asset accounts = $82,400 + $4,750 - $1,800 + $7,700 + $217,000

Amount of cost to be capitalised in the asset accounts = $310,050

Therefore The Amount of cost to be capitalised in the asset accounts are:

New Office Equipment $42,863

Basket Purchase Of Copier, Computer, Scanner $61,500

Land For New Warehouse $310,050

5 0

3 years ago

The increase in total revenue that results from selling one more unit of output is A. marginal revenue. B. average revenue. C. m

egoroff_w [7]

Answer:

(i) Option (A) is correct.

(ii) Option (A) is correct.

Explanation:

(i) Marginal revenue refers to the change in total revenue obtained from the sale of an extra unit of a commodity. It is calculated by differentiating total revenue with respect to output. It is shown as:

$Marginal\ revenue=\frac{dTR}{dq}$

where,

TR = Total revenue

q = output

(ii) In a perfectly competitive market, price is equal to both average revenue and marginal revenue. Since, firms in a competitive market are not required to reduce the price of their product for selling more number of units. Hence, the average revenue remains the same at all the level of output. That's why average revenue in equal to the price under perfect market conditions.

Therefore, every additional unit of an output is sold at a same price, so the marginal revenue obtained from an extra unit is constant and hence, price is equal to the marginal revenue.

4 0

3 years ago

In 2011, the fixed costs of a company were $500,000, and its variable costs equaled $150,000. In 2010, the company made an a

Elina [12.6K]

Answer:

$650,000

Explanation:

The total cost of a company may be grouped into fixed and variable cost. The fixed cost remains constant at a given range of activity levels while the variable cost increases proportionately as the level of activities.

The total variable cost is the product of the unit variable cost and the number of units produced.

Hence, total cost in 2011

= $500,000 + $150,000

= $650,000

4 0

3 years ago

n R&D lab will receive $250,000 when a proposed contract is signed, a $200,000 progress payment at the end of Year 1, and $4

AfilCa [17]

Answer:

$726,370.51

Explanation:

The present value of the contract is the sum of the discounted cash flows.

Present value can be calculated using a financial calculator:

Cash flow in year 0 = $250,000

Cash flow in year 1 = $200,000

Cash flow in year 2 = $400,000

Discount rate = 15%

Present value = $726,370.51

I hope my answer helps you

8 0

3 years ago